Banks (Finance)
Beijing's authorities have made significant strides in combating money laundering, with the police uncovering seven large underground banks in 2006, involving over $1.75 billion in money laundering. The operation, led by the Ministry of Public Security, has resulted in the arrest of 44 suspects and the seizure
Banks (Finance)
Two former branch managers of the Bank of China have been indicted in the United States on charges of attempting to defraud the lender of $485 million, according to Assistant U.S. Attorney General Alice Fisher. The indictment alleges a 13-year scheme to launder money stolen from the bank through
Banks (Finance)
The US government has charged two former Bank of China managers and their wives with laundering over $485 million embezzled from the bank through various channels, including Las Vegas casinos. The 15-count indictment follows the arrest of the two couples by the FBI in 2004 for immigration fraud. The case
