NEW YORK, Jan 30 (Reuters) – A new push by regulators and
lawmakers to hold individuals, rather than just institutions,
accountable for regulatory violations involving money laundering
is spooking members of the U.S. financial industry, an executive
of retail broker E*Trade Financial said on Thursday.
Speaking on a panel at an annual anti-money laundering
conference, John Davidson, E*Trade’s global head of
anti-money laundering, called a new bill in Congress, as well as
vows by regulators to take more action against individuals, “a
NEW YORK (Reuters) – Bitcoin enthusiasts were buzzing about the arrest of a high-profile promoter of the digital currency at Monday night’s weekly Bitcoin trading session in Manhattan’s financial district.
Charlie Shrem’s detention on money laundering charges the day before shocked New York’s Bitcoin community, which meets in a small conference room to trade the currency. It is contemplating the end of a world of intrigue away from the watchful eyes of police and regulators.
NEW YORK, Jan 30 (Reuters) – Bitcoin enthusiasts were
buzzing about the arrest of a high-profile promoter of the
digital currency at Monday night’s weekly Bitcoin trading
session in Manhattan’s financial district.
Charlie Shrem’s detention on money laundering charges the
day before shocked New York’s Bitcoin community, which meets in
a small conference room to trade the currency. It is
contemplating the end of a world of intrigue away from the
watchful eyes of police and regulators.
NEW YORK (Reuters) – New York’s top bank regulator on Tuesday revealed new plans to regulate businesses handling transactions in bitcoin this year, saying the state may issue new financial services licenses tailored to virtual currencies.
Benjamin Lawsky, New York’s financial services superintendent, raised his idea for a “BitLicense” in a hearing a day after a prominent bitcoin entrepreneur was arrested on money laundering charges.
NEW YORK (Reuters) – The vice chairman of the Bitcoin Foundation, a trade group promoting the adoption of the digital currency, has been charged by U.S. prosecutors with conspiring to commit money laundering by helping to funnel cash to illicit online drugs bazaar Silk Road.
Charlie Shrem, who had financial backing from the Winklevoss twins and is well known as one of the bitcoin’s biggest global promoters, was arrested on Sunday at John. F. Kennedy International Airport in New York, the U.S. Attorney’s Office in Manhattan said on Monday.
NEW YORK (Reuters) – Two men who operate bitcoin exchange businesses have been charged with money laundering for helping drug merchants exchange $1 million in cash for bitcoins, the digital currency, U.S. prosecutors said on Monday.
Federal prosecutors in New York announced charges against Charlie Shrem and Robert Faiella, both operators of bitcoin exchange businesses, for attempting to sell $1 million in the digital currency to users of the underground black market website Silk Road, which was shut down by authorities in September.
NEW YORK (Reuters) – Several large U.S. banks have set aside extra money to pay for potential legal costs in part because of JPMorgan Chase & Co’s massive $13 billion settlement with U.S. authorities over bad mortgages, according to two sources familiar with the situation.
The size of the JPMorgan settlement, which the government called the largest in U.S. history, led many banks to realize that the cost of resolving some of their own legal problems was likely to be higher than they had initially believed, the sources said.
NEW YORK (Reuters) – U.S. prosecutors in Manhattan are sitting on a multimillion-dollar bitcoin gold mine. And it could get much bigger.
Federal authorities hauled in 29,655 units of the digital currency – worth $27 million at current exchange rates – through an official forfeiture by Bitcoin this week.
NEW YORK, Jan 9 (Reuters) – Years before he was accused of
insider trading, former SAC Capital Advisors portfolio manager
Mathew Martoma forged a Harvard transcript, falsified an email,
and created a dummy forensic computing company to try to cover
his tracks, according to a court document unsealed on Thursday.
Martoma was eventually expelled from Harvard Law School over
the incident, according to the document, which began with his
forging a Harvard transcript to submit an application for a
NEW YORK (Reuters) – A federal judge on Wednesday approved an agreement between JPMorgan Chase & Co and U.S. prosecutors to settle charges that the bank violated anti-money laundering laws by failing to alert authorities to warning signs its employees encountered in dealings with convicted Ponzi schemer Bernard Madoff.
The settlement, which deferred the criminal charges against the bank until January 8 2016, requires JPMorgan to pay a $1.7 billion forfeiture and improve its anti-money laundering controls. If it meets the terms by the appointed date, prosecutors can dismiss the charges against it.