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On August 2, 2011 Senators Carl Levin and Chuck Grassley introduced bi-partisan legislation requiring companies to disclose the names of beneficial owners of corporations and limited liability companies. The legislation is intended “to ensure that persons who form corporations in

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Previously in this blog we discussed federal offenses such as money laundering, bulk cash smuggling, unlicensed money transmitting businesses, and smurfing. These are all serious offenses in their own right; offenses that can send someone to prison for up to

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The scandal involving News Corp. rocked both the U.K. and U.S. news media and political scenes. Commonly referred to as “Hackgate,” allegations against News Corp. range from hacking into private voicemails of victims of murder and terrorist attacks to bribing

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Congress enacted the principal money laundering statutes in 1986. 18 U.S.C. 1956 and 1957 criminalize financial and monetary transactions with proceeds of underlying criminal activity. These statutes make money laundering a crime in and of itself. Thus, not only can

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The U.S. government has a plethora of criminal statutes designed to curb the illicit transfer of funds and the flow of money in the underground economy. Federal law enforcement officers can investigate unlicensed money transmitting businesses (i.e. hawala) pursuant to

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The Justice Department announced on July 6, 2011 the unsealing of a criminal information, charging four defendants – Louis Gendason, 42, of Delray Beach, Fla.; Kimberly Mackey, 46, of Pittsburgh; John Incandela, 24, and Marcos Echevarria, 29, both of Palm

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Aiders and abettors, also known as accessories before-the-fact, are the very first provision of Title 18 of the United States Code (18 U.S.C. 2). The provision states that “whoever commits an offense against the United States or aids, abets, counsels,

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The Securities and Exchange Commission (SEC) is looking into Goldman Sachs’ relationships with the Libyan Investment Authority. Back in 2007, Libyan leader Moammar Gadhafi attracted banks and securities firms when he launched the $40 billion fund. SEC officials are looking

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