All posts tagged: laundering

Why Is the New York Times Laundering the Reputation of a Sleazy AI Startup That’s Selling GLP-1s via a Dishonest Dumpster Fire of Fake Doctors, Phony Before-and-After Pictures, a Warning From the FDA, and Other Glaring Red Flags?

Why Is the New York Times Laundering the Reputation of a Sleazy AI Startup That’s Selling GLP-1s via a Dishonest Dumpster Fire of Fake Doctors, Phony Before-and-After Pictures, a Warning From the FDA, and Other Glaring Red Flags?

Published by José Betancourt

Sign up to see the future, today Can’t-miss innovations from the bleeding edge of science and tech On Thursday, the New York Times published a glowing profile of a company called Medvi. The basic premise of the piece is that a single guy named Matthew Gallagher had used AI to rapidly build a pharmaceutical enterprise that’s on track to do nearly $2 billion in sales this year, while hiring only a skeleton crew of humans to operate the vast AI-powered venture. According to the NYT, it’s a stunning achievement that heralds a new era of business; OpenAI CEO Sam Altman, who predicted the rise of this kind of company back in 2024, told the newspaper that he’d “like to meet the guy” behind the project. “A $1.8 billion company with just two employees?” the NYT rhapsodized. “In the age of AI, it’s increasingly possible.” The NYT‘s tech coverage is generally pretty solid. But the framing of its story, and what it left out, left us pretty stunned. That’s because back in May of last year, we ran …

Billion-dollar money laundering case: Two former bank employees handed prohibition orders

Billion-dollar money laundering case: Two former bank employees handed prohibition orders

Published by Sam Flores

SINGAPORE: Prohibition orders have been issued against two former bank relationship managers convicted of offences related to money laundering, said the Monetary Authority of Singapore (MAS) on Tuesday (Mar 17). Given “the gravity of their misconduct”, the authority said that it issued a 16-year prohibition order against Wang Qiming and a seven-year prohibition order against Liu Kai. Under the prohibition orders, Wang, 26, and Liu, 36, are not allowed to perform any MAS-regulated or authorised activity or business. They are also barred from participating in the management of any financial institution and from acting as a director, partner or manager of any financial institution. In addition, the pair are prohibited from becoming, or increasing their interest as a substantial shareholder of, any financial institution that is a corporation. Wang and Liu, both Chinese nationals, were convicted of charges related to a major money-laundering case in August 2023. Wang, a former Citibank relationship manager, was convicted of four offences, including forgery, money laundering, and obstructing justice, in October 2025. He held S$481,678 (US$377,100) in laundered cash …

Unhappy Ending: Chinese National Pleads Guilty To Money Laundering Over Prostitution Scheme

Unhappy Ending: Chinese National Pleads Guilty To Money Laundering Over Prostitution Scheme

Published by Jenni Sidey

Authored by Frank Fang via The Epoch Times (emphasis ours), A Chinese national has pleaded guilty to laundering more than $2 million from a prostitution enterprise run through spa businesses in New York’s capital region, the U.S. Attorney’s Office for the Northern District of New York announced on March 11. The U.S. Department of Justice in Washington on Aug. 7, 2025. Madalina Kilroy/The Epoch Times Xia Ming, 41, of Flushing, New York, pleaded guilty to conspiracy to commit money laundering on March 3. According to his plea agreement, Xia operated a prostitution enterprise from 2019 to 2025. The enterprise consisted of “illicit massage businesses” disguised as “legitimate spas,” with employees providing “commercial sex services,” according to the court document. The establishment included Central Spa, Body and Skin Spa, Zen Body Works, Sisters Body Works, Relaxation Spa, and Physical Wellness Spa. “Mr. Xia did not merely run an illegal business, he built a multimillion-dollar enterprise on the commodification of women, treating them as instruments for financial gain while laundering the proceeds to enrich himself through cash …

Spanish police bust gambling money laundering ring exploiting Ukrainian war refugees

Spanish police bust gambling money laundering ring exploiting Ukrainian war refugees

Published by skeptic

Spanish police have arrested 12 people accused of running a criminal network that washed millions of euros through online gambling platforms while exploiting Ukrainian women who had fled the war. The arrests came after an international investigation coordinated by Europol. Authorities say the group built a complex financial setup that used gambling systems and bank accounts to disguise illegal profits. Thanks to Europol, Spain & Ukraine a network exploiting Ukrainian woman has been disrupted one has to continue to be vigilant and take the right measures to prevent and protect from #HumanTrafficking facilitated by war#EUvsHumanTrafficking https://t.co/ShtWZ7x1Pn — Diane Schmitt (@DianeSchmittEU) March 5, 2026 Coordinated action days in June 2025 led to eight arrests in Alicante and four more in Valencia. Investigators also carried out searches in Ukraine during the operation. In total, officers searched nine properties across Spain and another eight in Ukraine. During those raids, police seized electronic equipment, cash and other tools believed to have been used to manage the laundering scheme. Investigators say the organization centered its operation on online betting accounts …

Taipei prosecutors charge 62 in massive Prince Group laundering case

Taipei prosecutors charge 62 in massive Prince Group laundering case

Published by skeptic

Prosecutors in Taipei have filed charges against dozens of people in a sprawling money laundering case tied to the Cambodia-based Prince Group, wrapping up a months-long investigation into a network authorities say moved billions of New Taiwan dollars through the island’s financial system. The Taipei District Prosecutors Office announced Wednesday (March 4) that 62 defendants and 13 companies have been indicted. The charges include alleged organized crime activity, money laundering, illegal gambling operations, accounting violations and document forgery. This agency immediately initiated an investigation the following day (October 15, 2015) and directed the aforementioned judicial police agency to conduct a 140-day investigation, carrying out eight waves of search operations. The prosecutor applied to the court for the detention of nine defendants, which was granted, and bail was granted to 732 other defendants. Luxury goods, cars, mansions, and financial accounts with a total value exceeding HK$5.5 billion were seized. The investigation concluded today (4th). Taipei District Prosecutors Office Investigators say more than NT$10.7 billion ($340 million), flowed through the suspected network in Taiwan. The indictment identifies …

As Epstein Brokered Rothschild Bank Deals, DEA Ran Secret Probe Into M Laundering Scheme

As Epstein Brokered Rothschild Bank Deals, DEA Ran Secret Probe Into $50M Laundering Scheme

Published by Jenni Sidey

A newly uncovered DEA document from the DOJ’s Jeffrey Epstein files release reveals that Epstein was the subject of a secret, 5-year investigation by the Drug Enforcement Agency (DEA) on suspicions of laundering approximately $50 million through a web of illicit drug and prostitution networks – yet federal prosecutors pursuing his 2019 trafficking case had no idea.  The DEA investigation, code-named “Chain Reaction,” was launched by the DEA’s New York office on December 17, 2010, and targette4d Epstein (listed as “Target 4”) – as well as 14 other individuals whose names have been redacted. Chain Reaction focused on “illegitimate wire transfers” suspected of funding “illicit drug and/or prostitution activities” in New York City and the US Virgin Islands, where Epstein owned his notorious Little St. James island.  Drawing from a multi-agency dragnet – including the DEA, FBI, ICE, CBP, FinCEN, and others – the memo compiles biographical data, border crossings, criminal histories, and financial red flags. It reveals roughly $50 million in suspicious transactions from 2010 to 2015, routed through accounts in Switzerland, France, the Cayman Islands, and New York. Epstein himself was flagged in seven Unified …

Harwich man admits laundering K in romance fraud fueling gambling spiral

Harwich man admits laundering $12K in romance fraud fueling gambling spiral

Published by skeptic

A Harwich man has admitted laundering more than £9,000 in a romance fraud that not only drained his victim’s savings but also pushed him into compulsive gambling and a spiral of depression. Adam Mowle, 34, of Larksfield Crescent in Essex, appeared before Ipswich Magistrates’ Court and pleaded guilty to acquiring criminal property by fraud. The charge relates to £9,165 ($12,363) paid into his bank account over several months in 2019. Prosecutors said the money came from a man who believed he was sending financial help to a woman he had met through a dating app. I felt the need to gamble to try and get something back, this has led to me losing £93,000 to try and recoup the money I paid into Mowle’s bank account, going into a deep state of depression and having to seek help via medication and counselling. Victim impact statement The investigation was carried out by Suffolk Trading Standards. Mowle is scheduled to be sentenced on March 18, 2026. Magistrates were told that the victim began speaking online in early …

Norway fines Norsk Tipping 5K over anti-money laundering failures

Norway fines Norsk Tipping $105K over anti-money laundering failures

Published by skeptic

Norway’s state gambling operator has been ordered to pay a NOK 1 million ($105,000) fine after regulators concluded it fell short of key anti-money laundering obligations. In a decision dated Thursday (February 12), the Norwegian Lottery Authority (Lottstift) said Norsk Tipping violated several provisions of the Money Laundering Act. The findings come after a lengthy supervisory review carried out through 2025, culminating in a formal administrative penalty. Regulators determined that the company’s systems were not strong enough to uncover and stop potential money laundering or terrorist financing, particularly when it came to identifying customers and tracking their activity over time. The investigation covered a comprehensive sweep of the operator’s controls. Inspectors reviewed risk assessments, internal compliance routines, customer due diligence measures, transaction monitoring processes and reports sent to Norway’s financial intelligence unit. Authorities examined documents submitted between February and August 2025, ran sample checks in the spring and summer, and conducted on-site interviews in September. Gambling regulator points out serious gaps in Norsk Tipping anti-money laundering customer controls At the center of the ruling were …

Ukraine ex-energy minister named suspect in laundering investigation

Ukraine ex-energy minister named suspect in laundering investigation

Published by Sam Flores

Ukraine’s former energy minister German Galushchenko has been formally named as a suspect in a high-profile money laundering probe, investigators said Monday. The announcement comes one day after Galushchenko was detained by law enforcement attempting to leave Ukraine, and is the latest development in a corruption scandal in the energy sector that rocked the government last year. FRANCE 24’s Emmanuelle Chaze reports from Kharkiv. Keywords for this article Source link

Ukraine’s Former Energy Minister Charged With Money Laundering As ‘Operation Midas’ Expands

Ukraine’s Former Energy Minister Charged With Money Laundering As ‘Operation Midas’ Expands

Published by Jenni Sidey

Months after Ukraine was shaken by a sweeping corruption probe into state nuclear giant Energoatom, and subject of international embarrassment given it even touched Zelensky’s office, former Energy Minister Herman Halushchenko has now been formally charged – after authorities detained him while he was allegedly attempting to leave the country. Halushchenko had been suspended by Zelensky in mid-November, when news of the scandal first hit global headlines. On Monday, Ukraine’s National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) announced that Halushchenko faces formal charges of money laundering and participation in a criminal organization tied to what investigators call the Midas case or Operation Midas. The former Minister of Energy, Herman Galushchenko, Creative Commons “The former minister of energy (2021–2025) has been exposed for money laundering and participation in a criminal organization,” the joint statement said, adding that investigators have “expanded the circle of suspects.” The investigation is focused on members of the alleged network which established an investment fund in Anguilla (the British Overseas Territory in the Eastern Caribbean) in February 2021. …