Plus: Holy Deceit โ€“ Franciscan Friar Charged With Wire And Mail Fraud For Fake Charity Scam In Beirut...
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8/20/24

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Greetings!  Itโ€™s August 20, and weโ€™re tracking today's top stories: The accountability-free university in Morningside Heights, American con man who pioneered offshore finance, sanctions-obsessed America, Manhattan Franciscan friar charged with fraud for fake charity scam in Beirut, and much more...

 

๐Ÿ”ฅ Illicit Edge is the world's financial crime news hub. 

 

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Featured Story

 

๐ŸŽฏ The Accountability-Free University. Twenty-two students occupied Columbia's Hamilton Hall in April. Eighteen of them remain in good standing with the university and will return to campus in days โ€“ this after the university said they would face expulsion. Free Beacon 

 

Top Stories

 

๐ŸŒŽ The American Con Man Who Pioneered Offshore Finance. How a now-obscure financier turned the Bahamas into a tax haven โ€“ and created a cornerstone of global plutocracy. Atlantic

 

๐ŸŒŽ Why is the U.S. obsessed with sanctions? The U.S. has imposed economic sanctions on roughly one-third of the countries in the world, with more than 15,000 sanctions currently in effect. WaPo

 

๐ŸŒŽ Manhattan Franciscan Friar Charged With Wire And Mail Fraud Related To Fake Medical Charity In Lebanon. Bielecki engaged in a fraudulent scheme related to fake medical clinics he claims to operate in Lebanon. DOJ

 

๐ŸŒŽ Kidnapping, capture, cover-up? Cremated body baffles Mexican officials in โ€˜El Mayoโ€™ arrest. The tale of kidnapping, secret deals and betrayal that saw two of Mexicoโ€™s most wanted drug lords taken into U.S. custody last month has taken another twist. LAT

 

๐ŸŒŽ Investor Carl Icahn charged with hiding billions in loans. The investigation came after a report from short-seller Hindenburg Research sent shares in Icahnโ€™s investment firm spiraling last year. CNN

 

๐ŸŒŽ Bankers Charged by Singapore Were Stars of Race for Chinaโ€™s Rich. Less than two years out of college, Wang Qiming was making waves within Citibank Singapore by bringing in millions in deposits from his rich clients. Bloomberg

 

๐ŸŒŽ It Was Supposed to Be an Economic Hub. It Became a Criminalโ€™s Paradise. How the Golden Triangle Special Economic Zone in Laos became a notorious hub for drugs, scammers and human traffickers. Bloomberg

 

๐ŸŒŽ An economic catastrophe is lurking beneath Russiaโ€™s GDP growth as Putin โ€˜throws everything into the fireplaceโ€™. Resurgent cynics have painted an unrealistically optimistic picture of a supposedly resilient Russian economy despite sanctions and the exit of over 1,000 global multinational corporations. Fortune

 

๐ŸŒŽ U.S. mulls applying fiat reporting mandate on crypto transfers. The U.S. Treasury and Fed plan to redefine โ€œmoneyโ€ used under the BSA, as they aim to include cryptocurrencies and digital assets in new reporting requirements. Cointelegraph

 

๐ŸŒŽ Shaquille O'Neal Will Have to Defend Some of the Allegations Against Him in the Astrals NFT Lawsuit. The case alleged that O'Neal acted as the face of Astrals urging investors to "[h]op on the wave before itโ€™s too late." CoinDesk

 

๐ŸŒŽ North Korea Is Reopening Its Doors to Tourists. Visitors will be allowed to travel to the city of Samjiyon, while other parts of the country will remain restricted. Robb Report

 

Visit Illicit Edge for much more financial crime news...

IN THE NEWS

Russia

 

๐Ÿ‡ท๐Ÿ‡บ Russia Blacklists Clooney Foundation AFP

 

๐Ÿ‡ท๐Ÿ‡บ Putin's Suddenly Worried About Corruption in Russia Newsweek

 

๐Ÿ‡ท๐Ÿ‡บ Russia Hunts Down Deserters to Backfill Its Massive War Losses WSJ

 

๐Ÿ‡ท๐Ÿ‡บ Are Georgia and Kyrgyzstan Facilitating Russia's Evasion of Sanctions? Eurasianet

 

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China

 

๐Ÿ‡จ๐Ÿ‡ณ China now classifies crypto transactions as money laundering Cryptopolitan

 

๐Ÿ‡จ๐Ÿ‡ณ Bob Casey Held Stake in CCP-Owned Oil Company as Pennsylvania Blacklisted It Over Ties to Tehran Free Beacon

 

๐Ÿ‡จ๐Ÿ‡ณ Ron DeSantis-backed law barring Chinese from owning land in Florida galvanizes Asian Americans NBC

 

๐Ÿ‡จ๐Ÿ‡ณ Two more top Chinese football officials netted in corruption crackdown SCMP

 

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Corruption & Financial Crime

 

๐Ÿ’ธ As Democrats kick off convention, House GOP unveils Biden impeachment report USAT

 

๐Ÿ’ธ Former Rep. George Santos pleads guilty to fraud charges NBC

 

๐Ÿ’ธ All Eyes are on Singapore and its Fight Against Dirty Money RUSI

 

๐Ÿ’ธ Former Saudi official alleges Prince Mohammed forged kingโ€™s signature on Yemen war decree AP

 

๐Ÿ’ธ Mike Lynch, the UK tycoon who defeated US fraud charges, missing at sea BBC

 

๐Ÿ’ธ Law firm Simpson Thacher must face UK tribunal over money laundering controls Reuters

 

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Crypto & Cyber

 

๐Ÿ” FBI concludes Iran was behind Trump campaign hack Hill

 

๐Ÿ” Ukrainian bank's service for military donations targeted by โ€˜massiveโ€™ DDoS attack Record

 

๐Ÿ” Ava Labs COO confirms X account hacked after posting memecoin Cointelegraph

 

๐Ÿ” Hackers linked to $14M Holograph crypto heist arrested in Italy Bleepingcomputer

 

๐Ÿ” Solana's Former Top Decentralized Crypto Exchange Faces SEC Securities Violations CoinDesk

"He who does not punish evil commands it to be done."
--Leonardo da Vinci

๐Ÿ“ฉ

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