Fiat crime (financing terror, money laundering, fraud, ponzi, etc.)

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In one of the largest cash heists in Los Angeles history, thieves made off with as much as $30 million in an Easter Sunday burglary at a San Fernando Valley money storage facility, an L.A. police official revealed Wednesday.

The burglary occurred Sunday night at a facility in Sylmar where cash from businesses across the region is handled and stored, according to L.A. Police Department Cmdr. Elaine Morales.

The burglars were able to breach the building as well as the safe where the money was stored, Morales said. Law enforcement sources said the break-in was among the largest burglaries in city history when it comes to cash, and the total surpassed any armored-car heist in the city as well.
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www.latimes.com

In one of L.A.'s largest cash heists, burglars steal as much as $30 million in elaborate operation

Thieves stole as much as $30 million Sunday night at a facility in Sylmar where cash from businesses across the region is handled and stored.
www.latimes.com www.latimes.com

Why did they rob a bank money storage facility?

Because that's where the money cash is.
 
www.scmp.com

Singapore jails Fujian native in US$2.2 billion money laundering case

Su Wenqiang, 32, pleaded guilty during a court hearing on Tuesday. He was one of 10 foreigners holding multiple citizenships who were arrested in Singapore in August last year in simultaneous raids.
www.scmp.com www.scmp.com

www.scmp.com

Singapore jails second man in US$2.2 billion money laundering case

Cypriot national Su Haijin was sentenced to 14 months’ jail and is the second defendant jailed in Singapore’s biggest-ever money laundering probe.
www.scmp.com www.scmp.com
 

British Billionaire Joe Lewis The Insider Trading Case and Sentencing Decision​

The recent sentencing decision in the insider-trading case involving British billionaire Joe Lewis has sparked significant debate and scrutiny. Lewis, 87 years old and worth an estimated $6.2 billion, pleaded guilty to securities-fraud charges for tipping off associates about confidential information regarding companies he was invested in. Despite his guilty plea, Lewis will not serve prison time, with the judge citing his advanced age and poor health as mitigating factors.

The case against Lewis centers on allegations that he provided insider information to a romantic partner, a poker buddy, and the pilots of his private jet, allowing them to profit from trading on the information. While Lewis himself did not directly profit from the scheme, his associates collectively made millions of dollars, raising questions about his culpability and the broader implications of white-collar crime in the financial world.

At his sentencing hearing, U.S. District Judge Jessica Clarke imposed a sentence of three years probation and a $5 million fine, deviating from federal sentencing guidelines that recommended a prison term of 18 months to two years. Clarke justified her decision by citing Lewis’s medical needs and advanced age, expressing concern for his well-being if incarcerated. This lenient sentencing approach has sparked criticism from some quarters, with detractors arguing that it sends the wrong message about accountability and the consequences of financial misconduct.

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RE: post #3

Remember the movie "Heat"

Thieves steal $30 million in Easter Sunday Heist​

Apr 4, 2024
An Easter Sunday burglary at a San Fernando Valley money storage facility netted thieves as much as $30 million in cash in an operation that has, at least for now, left authorities baffled. Kareen Wynter reports for KTLA 5 News at 3, Apr. 4, 2024. Details: ktla.com


3:31
 
Everything is a scamon Facebook.
 
The bank didn't fail.........it got robbed.

A bank failure shattered trust in this Kansas town. Only honest talk will heal it.​


ELKHART — Eight months after a bank failure shook this historic and close-knit community, new details are emerging that indicate just how deeply the bank’s collapse was felt in town.

It’s a story about the theft of $47 million, which authorities allege the bank’s CEO used to cover his losses in an online cryptocurrency scam, but ultimately it’s a tale about trust and money and what happens when an institution that most of us take for granted collapses.

“People need to know what occurred,” Brian Mitchell, a third-generation resident and one of the targets of the scheme, told me. “There was a turning point when the victim became the thief.”

Shan Hanes, the CEO of Heartland Tri-State Bank, is charged in federal district court with embezzling $47.1 between May and July of last year to purchase cryptocurrency. If convicted, he could be sentenced to the maximum penalty of up to 30 years in prison.

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kansasreflector.com

A bank failure shattered trust in this Kansas town. Only honest talk will heal it. • Kansas Reflector

Eight months after a bank failure shook the historic and close-knit community of Elkhart, new details are emerging.
kansasreflector.com kansasreflector.com
 
Too bad for him that his last name isn't Corzine.
 
Parts of this had me laughing. Guy doesn't look like a thief.........but then again, what does a thief look like?

Thief says he tried on, then melted down Yogi Berra World Series rings | 60 Minutes​

Apr 8, 2024

Tommy Trotta spent decades stealing priceless sports memorabilia and artwork from museums. Having served some time, he gives up his playbook to 60 Minutes.


13:32

news.yahoo.com

Trail of larceny: complete list of thefts in widespread burglary ring

Jun. 15—Below is a list of the thefts and attempted thefts investigators allege involved the nine individuals named in federal charging documents unsealed Thursday. A federal grand jury handed up an indictment against four individuals: Nicholas Dombek, Damien Boland, and brothers Alfred and...
news.yahoo.com news.yahoo.com
 

‘Panama Papers’ trial starts. 27 people charged in the worldwide money laundering case​


Updated 12:30 PM EDT, April 8, 2024

PANAMA CITY (AP) — The trial of 27 people charged in connection with the worldwide “Panama Papers” money laundering started Monday in a Panamanian criminal court.

Those on trial include the owners of the Mossack-Fonseca law firm that was at the heart of the 2016 massive document leak.

The Panama Papers include a collection of 11 million secret financial documents that illustrate how some of the world’s richest people hide their money.

The repercussions of the leaks have been far-ranging, prompting the resignation of the prime minister of Iceland and bringing scrutiny to the leaders of Argentina and Ukraine, Chinese politicians and Russian President Vladimir Putin, among others.

The often-delayed trial opened Monday, with lawyers Juergen Mossack, Ramón Fonseca and other ex-employees of the firm facing money laundering charges.

Mossack was present in the courtroom; lawyers for Fonseca said he was in a hospital in Panama.

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apnews.com

'Panama Papers' trial starts. 27 people charged in the worldwide money laundering case

Panama has started the trial of 27 people charged in the worldwide “Panama Papers” money laundering case.
apnews.com apnews.com
 

Vietnam tycoon gets death sentence in $12-bln fraud case​

HANOI, April 11 (Reuters) - A court in Vietnam handed the death sentence on Thursday to real estate tycoon Truong My Lan for her role in a 304-trillion-dong ($12.5-billion) financial fraud, the country's biggest on record, state media said.

Her trial, begun on March 5 and ending earlier than planned, was one dramatic result of a campaign against corruption that the leader of the ruling Communist Party, Nguyen Phu Trong, has pledged for years to stamp out.

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Fiat is a crime per se

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The money launderer, who charges a hefty fee to clients to exchange cash for gold and other currencies, has been operating via Heathrow to Dubai - the former doesn't scan outbound luggage for cash, while the latter welcomes sacks of it. They're also the #1 and #2 of the world's busiest airports for international passengers.

The UK mandates passengers declare amounts exceeding $10,000 to customs authorities. Larvin, however, risked arrest by not disclosing her precious cargo, not that anyone would notice. The suitcases slid through Heathrow's baggage-handling system and its 3-D scanner, designed to detect explosives rather than contraband currency.

The next morning in Dubai, the women calmly collected their bags, declaring $2.8 million at customs, a practice fully permitted by UAE law. While the UAE allows any amount of cash to enter its borders, the laxity of international airports in monitoring money flows has created a loophole, one exploited by money launderers worldwide.

Each year, more than $2 trillion in proceeds from illegal enterprises enters the global financial system, with a significant portion smuggled across borders by air. According to estimates by the UN Office on Drugs and Crime and the Financial Action Task Force, "hundreds of billions in illicit cash" fly out of the UK and other nations to countries with fewer regulations.

One of the reasons for so much airline smuggling is that banks around the globe have stepped up the reporting of suspicious transactions, making it more difficult to launder money using traditional wire transfers. So it's back to even more traditional ways of money laundering.
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What, No Bitcoin? How "Hundreds Of Billions" Are Laundered With Cash On Airplanes | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
 
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