Authorities Seize $1.7B Bitcoin for Purchase of $30M mansion
Reportedly, authorities seized Bitcoin valued at $1.7 billion after an alleged attempt by a former restaurant employee to purchase a mansion in London valued at approximately $30 million. According to a January 30 Sky News report, Jian Wen, a Chinese national who obtained British citizenship in 2018, purportedly underwent a recruitment process to aid Zhimin […]
OneCoin Lawyer Receives 10 Years Prison Sentence
The lawyer, who was guilty of money laundering in November 2019 via the OneCoin cryptocurrency scheme, received a ten-year prison sentence from a federal judge after a hearing on January 25. Inner City Press reports that on January 25, U.S. District Court for the Southern District of New York Judge Edgardo Ramos sentenced Mark Scott […]
OCBC Sues Money Laundering Suspect to Recover $15M Loss
OCBC, the second largest bank in Southeast Asia, has filed a claim against Su Baolin, one of the key suspects in Singapore’s largest money laundering scandal. The bank seeks to recover about $15 million in loans and interest. According to a Bloomberg report, OCBC has initiated legal proceedings against Su Baolin, a Cambodian passport holder, […]
Bitgin Crypto Exchange Faces Investigation for Money Laundering
Bitgin, a Taiwanese cryptocurrency exchange, is facing an investigation from the police, confirming its chief operating officer’s brief relationship with an alleged money laundering group on Nov. 13. The Taiwanese police are investigating the cryptocurrency exchange Bitgin for money laundering. Early this week, local news sources reported that Taiwanese police arrested the firm’s chief operating […]
Former OneCoin executive faces 40-year sentence
Federal prosecutors in the United States have indicted Irina Dilkinska a former exco of the fake crypto scheme OneCoin for her role in the scheme. She now faces up to 40 years in prison. On March 21, the Department of Justice charged Dilkinska, the former head of legal and compliance at OneCoin, with one count […]