Tag: financial crime
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FIC Clears Richard Nii Armah Quaye: Ghanaian Businessman’s Accounts Unfrozen After Probe
Summary: FIC Drops Probe After Clearing Quaye The Financial Intelligence Centre (FIC) has concluded its investigation into the financial activities of Ghanaian businessman Richard Nii Armah Quaye and has cleared him of any misconduct. Following an earlier decision to freeze his accounts during the probe, authorities have now unfrozen the assets as part of closing…
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Crackdown on Nigeria Coup Plot: EFCC, NFIU Probe Financial Flows
Overview of the Crackdown Security agencies in Nigeria have intensified their response to an alleged coup plot, with investigations expanding beyond the initial discovery to include the financial machinery believed to support the operation. The Economic and Financial Crimes Commission (EFCC) and the Nigeria Financial Intelligence Unit (NFIU) are at the forefront of tracing monetary…
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EFCC and NFIU Crackdown on Alleged Nigeria Coup Plot Fund Flows
Overview of the Crackdown In a coordinated effort to dismantle the financial networks that underpin the alleged coup plot in Nigeria, the Economic and Financial Crimes Commission (EFCC) and the Nigeria Financial Intelligence Unit (NFIU) have intensified their investigations. Their focus is on tracing and disrupting illicit financial flows that proponents of the plot may…
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Ex-insurance Agent’s Bail-Breach Scam: Over S$7 Million Pulled From Victims
Overview of the Case An ex-insurance agent who was already out on bail for earlier offences reportedly orchestrated a sophisticated investment scam that targeted his own family, friends, and other unsuspecting individuals. In total, more than S$7 million (about US$5.4 million) was siphoned from victims under the guise of lucrative opportunities, according to prosecutors and…
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Ex-insurance agent jailed for orchestrating S$7 million investment scam while on bail
Singaporean ex-insurance agent jailed for elaborate on-bail scam A former life insurance agent was jailed for more than a decade after masterminding a sophisticated investment scam that drew in family members, friends and other victims, totaling over S$7 million. The scheme unfolded while the defendant was out on bail for prior offenses, underscoring how quickly…
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Pontus Rasmusson Charged with Economic Crime in Sweden
Overview A 27-year-old man, Pontus Rasmusson, has been indicted in Sweden on charges of economic crime. The case alleges two counts of aggravated bookkeeping offenses and obstruction of tax control. Rasmusson has publicly denied the accusations. If convicted, he could face fines and a potential three-year business ban that would limit his ability to operate…
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Pontus Rasmusson Indicted for Economic Crime and Tax Fraud
Overview of the case Stockholm – The Swedish Prosecution Authority has indicted Pontus Rasmusson, a 27-year-old entrepreneur, on two counts of gross bookkeeping offenses and for obstructing tax control. Rasmusson, who has publicly denied the allegations, faces potential sanctions beyond fines, including a possible three-year prohibition from conducting business. The indictment, issued in a period…
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Confiscated Luxury Cars Generate Revenue for the State
The Impact of Luxury Car Confiscation on State Revenue As of late 2024, Sweden has implemented a significant legal change with the introduction of the law on independent forfeiture. This new measure empowers the police to seize assets such as luxury cars and other capital goods from their owners. The crux of this law is…