August 26, 2010 |
As part of his administration's fight against organized crime, Mexican President Felipe Calderon proposed new steps Thursday to curb money laundering. Calderon said he will give Congress a package of legislation that would limit big-ticket cash purchases through which drug traffickers launder billions of dollars smuggled south across the U.S.- Mexico border. It would also stiffen reporting requirements for businesses and strengthen the government's hand in detecting transactions aimed at helping drug lords launder proceeds.
CALIFORNIA | LOCAL
July 13, 1991
Somebody tell those people lugging those suitcases full of cash to God-knows-where there's a company in San Diego with patents on the wall and more pending on some terrific products and we can put all that burdensome cash to really good use. TOD McMULLEN San Diego
June 29, 1990 |
If ordinary consumers think about money laundering at all, it may be with some wistfulness that they have neither way nor wherewithal to do it. At the same time, they do understand that all that cash counted up in back rooms and somehow turned into cashier's checks, real estate and offshore bank accounts is truly dirty, the ill-gotten gains from drug sales, tax evasion or savings and loan fraud.
CALIFORNIA | LOCAL
April 14, 1989
A businessman has been convicted in federal court in Los Angeles of laundering $24 million through Santa Barbara-area banks for an organization prosecutors contended was run by a reputed Orange County drug kingpin. U.S. District Judge A. Andrew Hauk said he found Stefan von Metzger's explanation for the source of the money "poppycock" after the 65-year-old Santa Barbara businessman was found guilty on 36 counts. The defense had contended the money in question came from a plastics-manufacturing business owned by von Metzger's brother-in-law in Venezuela and brought into the United States legally to purchase supplies.
September 19, 2013 |
HOUSTON -- Tom DeLay, who was forced out as Republican House majority leader in 2005 because of felony money laundering charges, was exonerated Thursday by a Texas appeals court. The Texas 3rd Court of Appeals said the evidence in the case was “legally insufficient,” and in a sharp 2-1 ruling, with two Republican judges ruling against a dissenting Democrat, the court cleared DeLay, a fierce GOP conservative. DeLay had represented a Houston district, and as House leader earned the nickname “The Hammer” for his iron-fisted control of his colleagues.
September 15, 2009 |
Hollywood may be in for tighter government scrutiny of its overseas operations. Producers Gerald and Patricia Green were found guilty late Friday on charges of bribery and money laundering related to their running of a local film festival in Thailand, a decision that experts say could lead to further investigation into the huge amounts of business film studios do overseas. The two were convicted of conspiracy to violate the Foreign Corrupt Practices Act, eight counts of violating the act and seven counts of money laundering.
August 19, 2003 |
Saudi Arabia approved an anti-money-laundering law under which financial institutions must verify the identity of a person wishing to carry out a transaction and keep a record for 10 years, the official Saudi Press Agency said. The law defines laundering as "carrying out any monetary or proceeds transaction under the knowledge that it comes from criminal activity or an illegal source in addition to funding terrorism or terrorist acts and terrorist groups." The U.S.
CALIFORNIA | LOCAL
September 28, 1990
Three employees of a money exchange business in Los Angeles and Huntington Park have been arrested for allegedly running a $4 million-a-month money laundering operation, U.S. Atty. Lourdes G. Baird said this week. Charged with conspiracy to launder money were Raul Velasquez, 37, of Huntington Park, president of the money exchange, Unimex Inc.; Nidia Bury, also of Huntington Park, and David Arias, 36, of Los Angeles.