Texas Man Sentenced for Money Laundering, Wire Fraud

A 65-year-old Stephenville, Texas, man has been sentenced in a Kansas City federal court to three years and four months in federal prison without parole for his convictions on charges of money laundering and wire fraud. Lewis Dean McBride, a financial planner and insurance agent, was also ordered to pay restitution of $430,000. McBride was … Continued

Is Your AML Compliance Program Suffering From These 5 Common Deficiencies?

Anti-money laundering (AML) compliance remains a challenge for many American financial institutions that continue to struggle with implementing stringent internal controls as the regulatory landscape continues to shift and change. An effective AML program depends on how well organizations are able to verify the identity of their customers, assess risk and monitor and audit daily … Continued

Texas Man Convicted of Conspiracy to Commit Money Laundering

A 44-year-old Texas man has been convicted by a federal jury in Oklahoma City of conspiracy to commit money laundering by operating an illegal international gambling enterprise. Bartice Alan King of Spring, Texas, was president and CEO of Legendz Sports, an online and phone-based gambling enterprise based in Panama City, Panama.  From 2003 to 2013, … Continued

DOJ Assistant AG Outlines Integral Parts of Compliance Program During Anti-Money Laundering Conference

U.S. Department of Justice Assistant Attorney General Leslie Caldwell was the keynote speaker at the recent ACAMS Anti-Money Laundering & Financial Crime Conference in Hollywood, Florida.  Caldwell, who heads up the DOJ’s Criminal Division and its Asset Forfeiture and Money Laundering Section, outlined what the DOJ expects of financial institutions operating internationally. Caldwell noted that … Continued

DOJ Charges Former Federal Agents with Bitcoin Wire Fraud and Money Laundering

The U.S. Department of Justice (“DOJ”) has charged two former federal agents with stealing digital currency while they were investigating Silk Road, an underground black market that facilitates illegal transactions online. Carl M. Force, a former Drug Enforcement Administration (“DEA”) agent, is charged with wire fraud, theft of government property, money laundering and conflict of … Continued

DOJ Charges Former Federal Agents with Bitcoin Wire Fraud and Money Laundering

The U.S. Department of Justice (“DOJ”) has charged two former federal agents with stealing digital currency while they were investigating Silk Road, an underground black market that facilitates illegal transactions online. Carl M. Force, a former Drug Enforcement Administration (“DEA”) agent, is charged with wire fraud, theft of government property, money laundering and conflict of … Continued

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