Category: Tax Crime

Wise co-founder Kristo Kaarmann tops the London list of winnersW
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October 29, 2024

Wise CEO Käärmann Fined £350K by FCA for Failing to Report Tax Default Promptly

The UK Financial Conduct Authority (FCA) has fined Wise CEO Kristo Käärmann £350,000 for failing to promptly disclose a tax default, citing a breach of Senior Management Conduct Rule 4. He was fined for deliberately failing to notify HMRC of a capital gains tax liability after he sold shares worth £10m in 2017. In September 2021, HMRC subsequently added Mr Käärmann to their public tax defaulters list.
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EPPO enforcement action in ItalyE
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October 27, 2024

EPPO Cracks Down on €113M VAT Fraud: Chinese Underground Banking Network Exposed

In a coordinated sting, the European Public Prosecutor’s Office (EPPO) has dismantled a VAT fraud network allegedly orchestrated by a Chinese underground banking network in Italy, evading €113 million through ghost companies and money laundering schemes. Coordinated searches across 20 Italian cities led to arrests and a €116 million asset freeze.
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Binance situation in NigeriaN
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October 24, 2024

Nigeria Drops Money Laundering Charges Against Binance Executive Amid Health Concerns

Nigeria’s anti-corruption agency has finally dropped its $35.4 million money laundering case against Tigran Gambaryan, a top Binance executive, citing his urgent need for medical treatment abroad. Gambaryan, who was in charge of financial crime compliance at Binance, had been detained in Nigeria since April. Binance still faces tax evasion charges as part of Nigeria’s broader crackdown on crypto firms.
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Swiss bank Mirabaud with money laundering issuesS
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September 20, 2024

Swiss Regulator Seizes $15 Million from Private Bank Mirabaud Connected to a Vast Money Laundering and Tax Evasion Case!

Swiss regulator FINMA has seized $15 million from Geneva-based private bank Mirabaud & Cie for serious breaches of financial market law and money-laundering obligations. The bank failed to conduct proper due diligence on a deceased businessman accused of tax evasion, managing up to $1.7 billion in assets linked to him. Despite Mirabaud's efforts to keep the case private, a Swiss court has now made it public.
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Hunter Biden faces new charges from US prosecutorsH
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August 11, 2024

Hunter Biden Accused of Involvement in Romanian Influence Scheme Amidst Ongoing Legal Battles

Hunter Biden, son of U.S. President Joe Biden, faces fresh accusations from federal prosecutors in his ongoing tax evasion case, who allege he accepted payments from a Romanian oligarch seeking to exert influence over U.S. government agencies. The charges form part of a broader legal case against Hunter Biden, who is accused of evading $1.4 million in taxes between 2016 and 2019 while allegedly spending millions on luxury items, drugs, and escorts.
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Binance situation in NigeriaU
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May 18, 2024

Update on Binance Nigeria Case: Executive Denied Bail Over Money Laundering Charges Over Flight Risk!

Working for the crypto exchange Binance may pull you into severe troubles, as shown in the case in Nigeria. Recently, a Nigerian court denied bail to Tigran Gambaryan, the Binance compliance officer facing charges of tax evasion and money laundering. The Federal High Court in Abuja presided over by Judge Emeka Nwite, ruled that Gambaryan, a former IRS special agent, is likely to abscond if released on bail.
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Detained Binance compliance officer Tigran GambaryanF
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May 11, 2024

FinTelegram Update: Binance Executive Seeks US Government Intervention From Nigerian Detention

Tigran Gambaryan, a senior executive at crypto giant Binance, has issued a public plea for assistance from the United States government through a video released from his detention in Nigeria. Gambaryan, the head of financial crime compliance at Binance, confirmed his month-long detention in a video that has gained considerable traction online. The video evidently was recorded in early March 2024 and found its way to X just recently.
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Binance situation in NigeriaB
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May 10, 2024

Binance Nigeria Case: Government Dismisses the Blackmail Allegations; Nadeem Ajawalla to be Extradited!

In a recent development in Nigeria, the national authorities have dismissed claims by Binance's CEO, Richard Teng, regarding alleged demands for a substantial bribe, labeling the accusation as a strategic diversion and an attempt at blackmail. These allegations surfaced amidst severe criminal charges against Binance. Teng had alleged in a blog post that unnamed Nigerian officials sought a $150 million bribe in cryptocurrency to halt an ongoing investigation into the company's activities.
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Binance court drama in NigeriaB
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April 5, 2024

Binance Executive Detained in Nigeria Faces Court Over Alleged Tax Evasion and Money Laundering in High-Stakes Legal Drama

The Binance drama in Nigeria continues. In a move that has sent shockwaves through the global crypto market, one of the top executives from Binance, the behemoth of the crypto exchange world, found himself in the docks of an Abuja court this Thursday. The charges? Tax evasion and money laundering—a duo of accusations that spell serious trouble not just for the individuals involved but potentially for Binance's operations within Nigeria and beyond.
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Airbnb and the Italian tax caseI
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November 8, 2023

Italian Tax Authorities Seize €779M From Airbnb In Alleged Unpaid Taxes!

In a significant move, Italy's financial law enforcement agency, the Guardia di Finanza, has reportedly confiscated a massive sum of €779 million from the well-known accommodation-sharing platform Airbnb. The seizure is part of an ongoing investigation into alleged tax evasion by the company. Airbnb has expressed itsnd disappointment at the actions taken and said it's just following EU rules instead.
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Former Formula 1 boss Bernie EcclestoneI
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October 13, 2023

Impressive: Former Formula 1 Boss Bernie Ecclestone To Pay £653 Million to UK Tax Authority!

Bernie Ecclestone, the ex-head of Formula 1, has been handed a suspended prison sentence after admitting to fraud charges. The 92-year-old failed to disclose over £400 million in a Singapore trust to UK tax officials in 2015. The court was informed that Ecclestone has consented to a civil agreement to pay nearly £653 million to HM Revenue and Customs (HMRC). As a result, he received a 17-month prison sentence, which has been suspended for two years.
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Arrest Warrant against former Steinhoff CEO Markus JoosteG
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June 23, 2023

German Court Issues Arrest Warrant Against Former Steinhoff CEO Markus Jooste!

The Oldenburg Regional Court in Germany has issued an arrest warrant in the trial of the South African national Markus Jooste, the former head of the Steinhoff furniture group, formerly the parent company of the now insolvent Kika and Leiner furniture chains in Austria. South Africa Minister in the Presidency Khumbudzo Ntshavheni said the government had not received an extradition request from German authorities for the disgraced former CEO.
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