Word: laundering
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...investigation, the largest and most complex yet into money laundering, was called Operation C-Chase for the $100 bills (C-notes) that are the denomination of choice in major drug deals. While previous probes had netted mostly low-level operatives, C-Chase bagged far bigger suspects. The arrests were based on indictments handed up by federal grand juries in Tampa and other cities. The indictments named some 80 defendants and the first banking company ever charged in the U.S. with money laundering: the Luxembourg-based Bank of Credit and Commerce International, the seventh largest privately held financial institution...
MIAMI--Federal prosecutors yesterday unsealed an indictment accusing Panamanian strongman Gen. Manuel Antonio Noriega with accepting $4.6 million to protect cocaine shipments, launder drug money and provide a safe haven in his country for top Colombian smugglers...
...shockingly burst. ZZZZ Best officials filed for bankruptcy protection and sued Minkow for allegedly misappropriating more than $23 million in company funds. The Los Angeles police, meanwhile, raided Minkow's office and home, and the police chief publicly linked him with mobsters who allegedly used his business to launder millions of dollars earned through the sale of illegal drugs...
Apparently the anthropology chairman was planning to sell the drugs and had set up a corporation named Simian Expansions to launder the money. Buettner-Janusch pleaded not guilty in the trial which followed, a large part of his defense resting on character witnesses who testified to his brilliance and untarnished reputation. During the trial his lawyer, Jules Ritholtz, hypothesized that Jolly himself could have planted the samples of LSD and Quaaludes...
South African authorities expect no trouble exporting gold, diamonds and other minerals, many of which are available from few other sources. The problems will center on coal, agricultural products and manufactured goods. Such items will be sent to foreign "front firms," which will launder shipments, principally by repacking, relabeling and attaching false certificates of origin. The goods will then be transported to buyers as non- South African products. A lot of South African wine shipments, for example, may soon be carrying Mediterranean markings. Government officials are openly advising South African businessmen on how to get around sanctions. Says Kent Durr...