Results tagged “moneylaundering”

       

Yesterday, federal agents arrested dozens of individuals, many of them NJ politicians and lawmakers as well as prominent religious figures in NJ and NY, in a probe that began as a money laundering investigation but then turned into a political corruption bust as well. The Star-Ledger reports, "The bribes went down in diners, living rooms and parking lots. New Jersey Assemblymen took them, mayors took them, and so did dozens of others. Orthodox rabbis, acting more like crime bosses than religious leaders, laundered millions through synagogues and yeshivas in Deal, one of the state's wealthiest towns. And a Realtor tried to sell an informant a black market kidney for $160,000."

       

The feds' raids and arrests this morning didn't just capture the NJ mayors and officials (past and present)—there are rabbis, relatives and apparently an organ dealer! A total of 44 people were arrested in a "broad-ranging corruption and international money laundering investigation."

Marc Dreier is currently under house arrest for his alleged $380 million fraud. Except now the feds had amended their indictment and say the fraud—selling fake promissory notes to hedge funds—is actually $700 million. The Law Blog reports, "Prosecutors are demanding that Dreier forfeit approximately $700 million, including all of his interest in a yacht, luxury cars, and more than 200 works of art by such masters as Andy Warhol, Jasper Johns, Roy Lichtenstein and Henri Matisse." Dreier, a once prominent lawyer whose firm employee 200 people and who pleaded guilty to previous charges, was also hit with a money laundering charge; his lawyer said, "We are looking for a fair resolution and will continue with that effort."

The lawyer accused of operating a strip club/brothel in Midtown was held on $150,000 bail, as was his wife. And his employees spared no details about Lou Posner while talking with the tabloids.