tax fraud

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Latam Insights: Brazilian Federal Police Cracks Down on $9.7 Billion Crypto Money Laundering Rings, Brazil Uses AI to Detect Crypto Tax Fraud

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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Brazilian police dismantle $9.7 billion crypto laundering rings, Brazil uses an artificial intelligence (AI) tool to detect tax fraud linked to cryptocurrency, and Latam’s neobank Nubank halts trading of its coin. Operation Niflheim: … Read more

Court Sentences Missouri Man to 3 Years in Prison for Crypto and Tax Fraud

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Missouri resident Lyell Champagne Jr. has been sentenced to three years in federal prison for fraud and tax offenses involving cryptocurrency. He and his accomplice attempted to steal funds by accessing victims’ bank accounts and filing false tax returns. Law enforcement recovered most of the stolen funds. Champagne pleaded guilty to multiple charges in June … Read more

Peter Schiff’s Euro Pacific Bank Under Investigation by Tax Authorities in 5 Countries

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Euro Pacific Bank, founded by gold bug and bitcoin skeptic Peter Schiff, is reportedly under investigation by the tax authorities of five countries. The bank’s customers allegedly include several tax fraud masterminds and a Russian syndicate described by the FBI as the world’s worst cybercrime group. Peter Schiff’s Euro Pacific Bank Probed by Tax Authorities … Read more

6 Bankers Accused of Earning €30M in Bonuses From German Fraud, Tax Lawyer Out on €4M Bail

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Former bank employees have received bonuses worth millions of euros in an illegal trading scheme that also involved a tax lawyer, prosecutors in Frankfurt revealed this week. The case is part of multiple investigations carried out across Germany, the hardest hit country in a notorious tax fraud scandal known as the Cum-ex Files. Also read: … Read more

Big Banks Money Laundering: UBS Fined $4.2 Billion, Danske Shuts Down in 4 Countries

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Money laundering scandals involving some of the world’s largest banks have grown this week. Switzerland’s largest bank, UBS, has been fined 3.7 billion euros (~$4.2 billion) for money laundering. Amid a $226 billion scandal, Estonian authorities have ordered Denmark’s largest bank to terminate its operations in the country. Danske Bank is also shutting down in … Read more

Court Refuses to Drop Money Laundering Charge Against UBS, $5.8 Billion Fine Looms

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A French court has reportedly rejected a request by the largest Swiss bank to drop money laundering charge against it. UBS Group and a number of its executives are accused of tax fraud and money laundering. If found guilty, the bank could be fined up to 5 billion euros or $5.8 billion. Its executives could … Read more