FraudBaron.com

Chinese Gang Involved in Billion Dollar Money Laundering Scheme

businessweek.com| 8/11/09 |

Police in south China announced Monday they had broken up a money laundering ring that sent $1.46 billion abroad in illegal transfers, mainly to Vietnam.

LA Rabbis Charged in Charity Scheme to Evade Taxes

bloomberg.com | 8/5/09 | suspect:  Naftali Tzi Weisz | victim:  IRS

In Los Angeles, U.S. prosecutors charged Naftali Tzi Weisz, grand rabbi of a Brooklyn-based Orthodox Jewish group, seven other people and five charities with a scheme to evade taxes through use of phony donations.

Bank Teller Falsifies SAR Reports in Money Laundering Scheme

miami.fbi.gov | 8/5/09 | $1.8 million |suspect:  Michelle Torres  | victim:  Bank of America

A former Bank of America employee was sentenced in connection with a $1.8 million money laundering scheme. Defendant Michelle Torres was sentenced to 41 months in prison for her role in a scheme that laundered the fraud proceeds of a Miami-based durable medical equipment company, S.Y.C. Home Medical Equipment, Inc.

Former CEO Files Whistleblower Suit Against Ecuadorian Owned Bank

bizjournals.com | 6/9/09 |  suspect:  Pacific National Bank

The ex-president and CEO of Miami-based Pacific National Bank filed a federal whistle-blower lawsuit against his former employer.

Mortgage Fraud was Vehicle to Launder Drug Profits

miami.fbi.gov | 5/18/09  | suspects:  Garry, Yvonne & Gamaliel Souffrant

three South Florida residents and a real estate brokerage corporation with participating in a long term mortgage fraud scheme designed to launder drug money.

GUILTY VERDICT ANNOUNCED AGAINST LA BAMBA CHECK CASHING

usdoj.gov | 2/9/09 | $132 million | suspect:  Juan Rene Caro/La Bamba Check Cashing

The Southern District of Florida has convicted Juan Rene Caro, 41, and the company he owned and operated, La Bamba Check Cashing, on one count of conspiracy and 15 substantive counts of failing to file currency transaction reports (CTRs). The verdicts came after two weeks of deliberations following a three and one half month trial before U.S. District Court Judge Joan A. Lenard.

Past probes sought to tie Stanford to drugs

chron.com | 2/23/09 | suspect: R. Allen Stanford

Authorities for years have investigated R. Allen Stanford, looking for ties to organized drug cartels and money laundering, going back at least a decade when the Texas billionaire's offshore bank surrendered $3 million in drug money, state and federal sources told the Houston Chronicle Friday.

Car dealership investigated in money-laundering probe

clevland.com | 2/16/09 | suspect: Reuben Lloyd | victim: Cityside Wholesale Drug dealers don't like banks. If they were to deposit their ill-gotten cash into an account, they eventually might have to explain where the money came from. Unless they launder their cash first. One way is to buy a car or boat, and then use it or resell it.

Man Convicted for running Offshore Gaming Website

usdoj.gov | 12/16/08 | $300 million | suspect: Anurag Dikshit | victim: US Government The FBI announced that ANURAG DIKSHIT -- a founder and former officer and director of PartyGaming PLC, an internet gambling business -- pleaded guilty today before United States District Judge JED S. RAKOFF to charges that he used the wires to transmit in interstate and foreign commerce bets and wagering information.

Police find $1.6M in hidden car compartment

courierpostonline.com | 11/7/08 | $1.6 million | suspects:  Various

Police arrested 39-year-old Luis Reyes of Jersey City, 31-year-old Carlos Roman of Lyndhurst, and 29-year-old Mario Reynoso of Newark after finding more than $1.6 million in cash hidden inside an expensive SUV Reyes was driving.