PRESIDENT'S RELATIVE AND DEPUTY CENTRAL BANK GOVERNOR JAILED

Aulia Pohan (UID 28255), a former deputy governor of Bank Indonesia, and a relative by marriage to the President was found guilty by Indonesia's corruption court of misusing 100 billion rupiah (US$9.8 million) from BI’s Indonesian Banking Development Foundation (YPPI) in 2003. Pohan was sentenced to four and a half years in jail. Three former collegues at the bank were also convicted and sentenced. All four were ordered to pay a fine of 200 million rupiah. To read about the case in more detail you may access the source documents from Pohan's profile.

Two sons and a stepson of the muslim cleric Abu Hamza Al Masri (UID 60004) have been jailed in Britain for their part in a luxury car theft ring. Hamza Kamel (UID 972894) and Mohamed Mostafa Kamel (UID 312108) together with Mohassin Ghailam (UID 282089) took part in the operation which targeted luxury cars left in long-stay car parking facilities. According to reports these cars were re-licenced and sold across Europe. Hamza Kamel was jailed for two-and-a-half years. His brother Mohammed Mostafa received two years. Ghailam who was described as a 'key player', was jailed for four years.

CLOSED TRIAL OF RUSSIAN BUSINESSMEN COMMENCES

A Russian businessman together with an individual wanted by the FBI for alleged money laundering, fraud and racketeering are appearing in a Moscow Court charged with tax evasion. Both men were arrested in January 2008. The defense and prosecution agreed to keep the trial closed from the public. Both men have denied the charges. Reports suggest that the investigation will also probe alleged links to companies which have connections to Russian government officials.

FORMER MORTGAGE COMPANY PRESIDENT PLEADS GUILTY TO MASSIVE FRAUD

Michael McGrath Jr (UID 1087358) the former president of U.S. Mortgage Corporation and its subsidiary CU National Mortgage, has pleaded guilty to mail and wire fraud and money laundering. The charges relate to a US$139 million mortgage fraud scheme. McGrath was released on a US$1 million bail bond and ordered to electronically monitored home confinement until sentencing, which is scheduled for October 2009. McGrath admitted that approximately US$13 million in funds that the government has frozen or seized to date were involved in, derived from or traceable to his offenses.

MADOFF'S SPOUSE RELINQUISHES CLAIM ON PROPERTY

The spouse of Bernard Madoff (UID 994040) has reportedly relinquished claims to more than US$80 million worth of property that US authorities have ordered to be forfeited. Madoff has been sentenced to 150 years in jail for masterminding the $65bn fraud. A court order was issued that the Madoffs must forfeit US$171 billion in assets. This includes properties in Manhattan, New York and Florida.

FLORIDA INDIVIDUAL CONVICTED IN OFFSHORE TAX EVASION CASE

Steven Rubenstein (UID 1001637) is the first individual to have been successfully prosecuted in an investigation into tax evasion by hiding monies in offshore accounts. A Swiss bank admitted to US tax fraud earlier this year and was forced by the Swiss regulator to hand over to US authorities the list of suspects. According to reports the bank has subsequently been asked to divulge the details of a further 52 000 clients whom the US suspect of tax evasion.

Yet another South Florida indictment of a ring of Medicare fraudsters has been filed, and again the two frontmen/putative owners have fled to their Cuban homeland. The organisers of these multi-million dollar frauds actually import the frontmen, who promptly return home after the scheme begins to fall apart. …read more

The Yemen Interior Ministry has announced the capture of a Saudi national who they allege is responsible for the financing of Al-Qaida cells within Yemen and Saudi Arabia. The statement claims that the individual is the 'biggest and most influential' money provider for the terror group. In a further statment from authorities they state that 'the Saudi's arrest will be instrumental in understanding the system of global terrorism financing'.

CANADA MOVES TOWARDS A SINGLE SECURITIES LEGISLATOR

The Canadian Finance Minister has announced the new 'transition office,' which is tasked with devising a plan to consolidate Canada's existing national securities regulators into one entity. At present, there are 13 separate provincial and territorial regulators.

NEW ZEALAND INTRODUCE BILL TO ENHANCE AML/CFT LEGISLATION

A Bill to increase measures against money laundering and the financing of terrorism has been introduced into the New Zealand Parliament. The remarks by the Justice Minister were that it would also assist in tackling both financial and narcotics related crime in respect of organised crime and terrorism. The legislation will enable the country to comply with the FATF recommendations.

ISLE OF MAN PARLIAMENT PASSES CFT BILL

The Isle of Man parliament (Tynwald) recently passed the Terrorism (Finance) Bill 2009. The Bill will enable the island to strengthen its ability to safeguard the integrity of its financial sector. The Bill is reported to mirror parts of the November 2008 UK Counter Terrorism Bill.

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