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Midweek Roundup: Sweden Fines Bank for AML and Sanctions Violations, M &T Acquisition Put on Hold Over AML Concerns, and More
printFederal prosecutors Tuesday accused 34 individuals of money laundering and racketeering on behalf of a Russian mafia organization tied to a $100 million illegal gambling operation run from Manhattan. The defendants allegedly used Cyprus-based shell companies to move the money through and into bank accounts in Switzerland, the Ukraine, New York, New Jersey and California. Portions of the profits, won from wealthy bettors, were laundered with the assistance of a JPMorgan branch manager in New York City, who advised other defendants on how to structure their deposits, prosecutors said. Among the accused is the Helly Nahmad, the owner of an...
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