CONFESSIONS OF A
MONEY LAUNDERER by Kenneth Rijock
Financial Crime Consultant, for World-Check
Confessions of a Money Launderer - Part 89
30 March 2009

I spent a year as a compliance officer. How it came to an end is perhaps just as interesting as the details of the more colourful clients I have recounted in the past few chapters. If I didn't explain it before, the compliance officer job was offered to me based upon my experience as a money launder, not despite it. For that I will always be grateful to the owner of the firm, who wanted someone in the compliance division who could spot the financial criminals on a real-time basis, and deny them entry. Unlike others in the financial and legal community, he saw my experience as a valuable human resource. My job was to handle the problems, the potential clients who required enhanced due diligence. But let's get back to the story.

Here is how it started; the murder comes later:

  • One morning , I was sitting at my computer at work, with a pile of files on the desk, when a soft voice behind me intoned, "sir, please setep away from your computer." Now, you know my background, where I have been, and my experiences with law enforcement agencies. Was I being arrested for something that occurred long ago? What could possibly be happening that was so serious that there was a law enforcement agent at my back, directing me to comply with his directions?
  • When I stood up and turned around, sure enough, there was a man wearing what appeared to be the uniform of a US Customs Agent. But he didn't handcuff me; strange, What's going on? I then saw others from the company all had uniformed agents behind them and their work-stations. I did notice a total lack of anyone in senior management on the floor. Where are the division heads?
  • We were all herded into the central conference room, which has a commanding view of downtown Fort Lauderdale. There was plenty of muscle there, all from the law enforcement community. A lectern was being set up, and a man whom I immediately recognised as the former United States Attorney for the Southern District of Florida, stepped up to speak. Since you don't get a lecture when you're being arrested, I knew something was up.
  • Reading from a court order, he announced to one and all that the firm had been placed into receivership by a Federal Judge, and he had been appointed Receiver. So it was civil, and not criminal, after all. There were a carload of fraud issues, and government regulators, including the SEC, had prevailed upon the Court to remove the principal, and employees, and take over the operation.
  • At that point, the company's outside counsel, mad as hell, stormed into the room, firing questions at the Receiver, but he was quickly quieted down, and escorted out. We had not seen the last of him, but that will be more apparent further on.
  • Was this a shock to the employees? You bet it was, as many of them had never experienced the long arm of the law reaching out and touching them in such a personal way. The receiver had also frozen all the company's accounts. Fortunately, I had just one day earlier cashed my payroll cheque, but other employees, vendors, regular creditors, and investors who had not yet deposited cheques, were all out of luck.
  • They escorted the hapless employees to their desks, to remove only personal items. I has a number of valuable due diligence reference aids there, but it all was left behind that day. We all left the parking garage for the last time, though a small number of employees were hired on to wind down operations, and assist the legion of individuals who were working for the receiver.

Why did all these happen? Find out next week.

The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.

Read more in this exciting series

Confessions of a Money Launderer - Part 97
Confessions of a Money Launderer - Part 96
Confessions of a Money Launderer - Part 95
Confessions of a Money Launderer - Part 94
Confessions of a Money Launderer - Part 93
Confessions of a Money Launderer - Part 92
Confessions of a Money Launderer - Part 91
Confessions of a Money Launderer - Part Ninety
Confessions of a Money Launderer - Part 89
Confessions of a Money Launderer - Part 88
Confessions of a Money Launderer - Part 87
Confessions of a Money Launderer - Part 86
New chapter out Tonight
Confessions of a Money Launderer - Part 85
Confessions of a Money Launderer - Part 84
Confession of a Money Launderer - Part 83
Confessions of a Money Launderer - Part 82
Confessions is on holiday until 5 January, but read earlier chapters here
Confession of a Money Launderer - Part 81
Confession of a Money Launderer - Part 80
Confession of a Money Launderer - Part 79
Confessions of a Money Launderer - Part 78
Confessions of a Money Launderer - Part 77
Confessions of a Money Launderer - Part 76
Confessions of a Money Launderer - Part 75
Confessions of a Money Launderer - Part 74
Confessions of a Money Launderer - Part 73
Confessions of a Money Launderer - Part 72
Confessions of a Money launderer - Part 71
Confessions of a Money Launderer - Part 70
Confessions of a Money Launderer - Part 69
Confessions of a Money Launderer - Part 68
Confessions of a Money Launderer - Part 67
Confessions of a Money Launderer - Part 66
Confessions of a Money Launderer - Part 65
Confessions of a Money Launderer - Part 64
Confessions of a Money Launderer - Part 63
Confessions of a Money Launderer - Part 62
Confessions of a Money Launderer - Part 61
Confessions of a Money Launderer - Part 60
Confessions of a Money Launderer - Part 59
Confessions of a Money Launderer - Part 58
Confessions of a Money Launderer - Part 57
Confessions of a Money Launderer - Part 56
Confessions of a Money Launderer - Part 55
Confessions of a Money Launderer - Part 54
Confessions of a Money Launderer - Part 53
Confessions of a Money Launderer - Part 52
Confessions of a Money Launderer - Part 51
Confessions of a Money Launderer - Part 50
Confessions of a Money Launderer - Part 49
Confessions of a Money Launderer - Part 48
Confessions of a Money Launderer - Part 47
Confessions of a Money Launderer - Part 46
Confessions of a Money Launderer - Part 45
Confessions of a Money Launderer - Part 44
Confessions of a Money Launderer - Part 43
Confessions of a Money Launderer - Part 42
Confessions of a Money Launderer - Part 41
Confessions of a Money Launderer - Part 40
Confessions of a Money Launderer - Part 39
Confessions of a Money Launderer - Part 38
Confessions of a Money Launderer - Part 37
Confessions of a Money launderer - Part 36
Confessions of a Money Launderer - Part 35
Confessions of a Money launderer - Part 34
Confessions of a Money Launderer - Part 33
Confessions of a Money launderer - Part 32
Confessions of a Money launderer - Part 31
Confessions of a Money launderer - Part 30
Confessions of a Money Launderer - Part 29
Confessions of a Money Launderer - Part 28
Confessions of a Money Launderer - Part 27
Confessions of a Money Launderer - Part 26
Confessions of a Money Launderer - Part 25
Confessions of a Money Launderer - Part 24
Confessions of a Money Launderer - Part 23
Confessions of a Money Launderer - part 22
Confessions of a Money Launderer - Part 21
Confessions of a Money Launderer - Part 20
Confessions of a Money Launderer - Part 19
Confessions of a Money Launderer - Part 18
Confessions of a Money Launderer - Part 17
Confessions of a Money Launderer - Part 16
Confessions of a Money Launderer - Part 15
Confessions of a Money Launderer - Part 14
Confessions of a Money Launderer - Part 13
Confessions of a Money Launderer - Part 12
Confessions of a Money Launderer - Part 11
Confessions of a Money Launderer - Part 10
Confessions of a Money Launderer - Part 9
Confessions of a Money Launderer - Part 8
Confessions of a Money Launderer - Part 7
Confessions of a Money Launderer - Part 6
Confessions of a Money Launderer - Part 5
Confessions of a Money Launderer - Part 4
Confessions of a Money Launderer - Part 3
Confessions of a Money Launderer - Part 2
Confessions of a Money Launderer - Part 1
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