Raymond Christopher Reggie, a business owner in Mandeville, is now facing federal fraud allegations for the second time in the last eight years. In an indictment released last Wednesday, Reggie was accused of five counts of wire fraud and six counts of money laundering in a scheme that allegedly ran
A London-based bank has been heavily fined by the Financial Conduct Authority (“FCA”) for failures relating to its anti-money-laundering controls. Guaranty Trust Bank Ltd (“GTB”) was fined over £500,000 by the FCA earlier this month for numerous and systematic failures to put in place procedures to monitor the risk that
Shawon McClung, who began Flint-McClung Capital LLC in Indiana, has pled guilty to running a Ponzi scheme totaling losses of over $1.7 million. According to court documents, McClung entered into financial discussions in 2008 with a software programmer to create proprietary software to make automated trades on the foreign currency
The Arizona couple that helped to lead a drug and money laundering conspiracy to distribute more than 1,000 kilograms of marijuana, received their sentence on Monday, July 29th. Jose Valenzuela and his wire, Beatriz Valenzuela, were sentenced to 137 months and 125 months in prison, respectively. The couple will also
In December 2012, HSBC Holdings admitted ignoring evidence its clients were engaged in criminal money laundering, and agreed to pay $1.9 billion in settlement to the United States Department of Justice and other United States law enforcement agencies. As a result of this settlement, criminal charges will be avoided. White
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