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Mexican pilots will spend 20 years locked up in Costa Rica for money laundering

Two Mexican pilots, identified as Luis Eduardo Gómez Mendoza and José Humberto Benavides Muñoz, will spend the next 10 years each in a Tiquicia jail for money laundering. The two were sentenced by the Criminal Court of Pavas, this Tuesday, September 15, after analyzing...

Renowned Costa Rican doctor accused in the U.S. for selling drugs on the “darknet”

(QCOSTARICA) The United States Department of Justice accused a Costa Rican pharmacist and merchant of allegedly shipping restricted-use narcotics such as morphine, alprazolam and oxycontin, among others, hidden in souvenirs. The seven-count indictment by a federal grand jury in the District of Columbia, charged David...

All Bark, No Bite: How US Bungled Case of ‘Major’ Money Launderer

Insightcrime.org - US authorities alleged in 2016 that Nidal Waked and other members of his powerful and well-connected family in Panama were among “the world’s most significant drug money launderers and criminal facilitators,” with clients ranging from Mexico’s Sinaloa Cartel to Colombia’s FARC rebels. But...

Court confirms sanction against Scotiabank in Costa Rica for breaching anti-money laundering rule

(QCOSTARICA) The Administrative Court (Tribunal Contencioso Administrativo) upheld the sanction imposed on Scotiabank, by the General Superintendence of Financial Entities (Sugef), for failing to comply with the anti-money laundering regulations in Costa Rica. The judges declared without merit, on May 11, the request of the...

Two Americans Nabbed At San Jose Airport With US$644,000 In Cash

Two Americans tried to enter Costa Rica, through the San Jose international airport (SJO), with US$644,344 dollars in their carryons. According to a press release from the Ministerio de Seguridad Pública (MSP) - Ministry of Public Security -  the men were identified by their last...

Follow the Money: Through Costa Rica Chavez Leaders Received Money From Mexican Cartels

Spain's ABC news (ABC.es) reveals that leaders of the Venezuelan government would have received money from the Mexican narco through Costa Rica. According to the report, apparently, the cash "was in payment for drug shipments sent by Chavez leaders," adds the publication based on information...

Costa Rica updates mechanisms to prevent money laundering and terrorist financing

Costa Rica is preparing with an inter-institutional action plan for the evaluation of its anti-money laundering system and against terrorist financing in 2020 in compliance with the International Standards issued by the Financial Action Task Force (on Money Laundering) (FATF). Also known by its French...

Man Nabbed At San Jose Airport With US$226,000 In Double Lining Of Suitcase

A 49-year-old man surnamed Molina Restrepo, was arrested Tuesday at the Juan Santamaría International Airport (SJO), after it was found that he was carrying US$226,605 hidden in the double lining of a suitcase. The arrest was made by officers of the Drug Control Police (PCD)...

Venezuela-Nicaragua-El Salvador Money Laundering Network Exposed

The immense fortune created by the combination of high oil prices and the copious extraction of black gold from Venezuelan subsoil laid the foundation for a “Bolivarian Joint Criminal Enterprise” (BJCE), according to a report signed by Douglas Farah and Caitlyn Yates, the president...

Blow to money laundering: OIJ finds more than US$3 million and detains five people in Chinatown

Costa Rican authorities gave a financial blow on Tuesday to a money laundering gang operating out of Chinatown in the heart of San Jose, seizing US$3 million dollars in cash and arresting five people. The Tuesday raid on Chinatown is linked to a raid on...

Crime Will Not Pay In Costa Rica If Law Approved

Legislators of the Comisión de Seguridad y Narcotráfico (Security and Drug Trafficking Commission) approved a text that would allow the State to confiscate assets acquired through crime. According to Gustavo Viales, chairman of the commission, the text has the endorsement of the Instituto Costarricense sobre...

Costa Rica banks register strong increase in alerts due to suspected money laundering

Cases of suspected money laundering transactions soared in Costa Rican financial entities during the past year. Bank sent to the Instituto Costarricense sobre Drogas (ICD) - Costa Rican Institute on Drugs - 507 complaints of operations suspected of "legitimación de capitales" in 2018, an...

How Hugo Chávez’s Former Bodyguard became a Billionaire in Florida

They lived in total opulence while Venezuela plunged into misery. Alejandro Andrade, 54, went from being the bodyguard of former President Hugo Chávez and National Treasurer of Venezuela to becoming a multimillionaire in Florida, until he was arrested by the United States Department of...

Is Latin America Harboring a Mafia State?

(Panam Post) Many analysts are shocked at the collapse of Venezuela, a nation that was once showcased as the cradle of modernity in Latin America. This surprise of course springs from the fact that most observers failed to realize that the ascent of the...

U.S. banks warned to watch for corrupt cash from Nicaragua

The U.S. has ratcheted up the pressure on the government of Daniel Ortega for its crackdown on political opponents, with the U.S. Treasury Department officials warning American banks to be wary of corrupt officials moving cash from embattled Nicaragua into the U.S. financial system. Anti-government...

Traveling To Costa Rica With Large Sums of Undeclared Cash Risky Business

When traveling to Costa Rica with more than US$10,000 in cash or its equivalent in colones or euros, nothing happens as long as you declare it on your customs form upon landing. The same applies to land and maritime borders. Customs officials may, however, want...

Banco Nacional Closed Alunasa Accounts for US Alert on Alleged Money Laundering

Last Wednesday, June 13, the Banco Nacional de Costa Rica (BNCR) closed all the bank accounts of the Alunasa company, owned by the Government of Venezuela, after the US Treasury Department issued an alert about an alleged money laundering operation through the company. The BNCR,...

Venezuela Strongman Used Alunasa To Launder Money in Costa Rica, Accuses the United States

An investigation by the US Treasury Department concluded that Venezuela's strongman, Diosdado Cabello, laundered money in Costa Rica through the Alunasa company, located in Juanilama de Esparza, Puntarenas. The events date back to December 2016, says a statement issued on May 18, which said Cabello’s...

Colombian Narco cryptocurrency laundering network busted in Spain

Spain said Monday it has shut down a complex cryptocurrency network that used digital currency to pay for shipments of cocaine from Colombia to Europe. “Operation White Tulip”, which was coordinated by Europol and involved the Spanish Civil Guard and the Customs Service of the...

Panama puts Venezuela’s Maduro on money laundering watch

Panama has placed Venezuelan President Nicolas Maduro and other top officials on a watch list for money laundering. The National Commission Against Money Laundering published a resolution naming 55 people and 16 Venezuelan companies “considered high risk for money laundering” and financing terrorism. Source: Today Panama

Otto Guevara Suspected Of ‘Legitimating Capital’

The Chief Prosecutor (Attorney General), Emilia Navas Aparicio, confirmed on Saturday that during the raid of the offices of Grupo Jurídico Especializado, in which legislator, former presidential candidate and lawyer Otto Guevara Guth has an office, found was ¢41 million colones (¢39 million colones...

Latin America Falls Short on Anti-Crime Efforts: US State Department

(Insightcrime.org) An annual report by the US State Department on international drug trafficking suggests that Latin America continues to struggle with developing effective strategies to combat criminal activities due to a variety of factors ranging from corruption to shifts in regional drug dynamics. The annual...

Nicaragua Dismisses Ambassador To Costa Rica

The government of Daniel Ortega has dismissed Harold Rivas Reyes from his position as Nicaragua's Ambassador to Costa Rica. The decision was communicated to the Costa Rican Foreign Ministry last Saturday and effectived immediately. The "note" by Nicaragua's Ministry of Foreign Affairs did not mention...

Foreigner Detained At Airport For Concealing Large Amount Of Cash

A woman of Cuban nationality was detained by the officials of the Policía de Control de Drogas (PCD) - Drug Control Police - at the Juan Santamaria (San Jose) international airport, for carrying a large sum of cash hidden in her hand luggage. The PCD...

US$2 Million Dollar Mansion Most Expensive Seizure From Drug Traffickers

A US$2 million dollar two-story mansion that is under construction, standing out in a middle-class neighborhood of La Guacima, Alajuela, is the most expensive asset seized from drug traffickers. The residence, which resembles a large hacienda, lacks the finishing touches, is located just one kilometer...

Tico Selling Fake Viagra Online Pleads Guilty In U.S.

A Costa Rican man pleaded guilty in U.S. federal court to charges of mail fraud and money laundering, on charges of selling drugs imported from India, in the U.S. Ramiro Navarro Quesada, 41, was indicted in October 2015 on three counts of mail fraud and...

Money Laundering Risk Levels in Latin American Countries, Ranked

Insightcrime.org - An annual report by one of the world's leading institutions working against financial crimes ranks countries around the world in terms of their money laundering risk levels, providing a sense of where Latin American nations stand when it comes to this important...

Back In Costa Rica After Being Jailed In Nicaragua Adriana Corella Is Recovering Her Life

After a stint of one year, three months and some days in a Nicaraguan jail, the Costa Rican model, Adriana Corella, has shown on the social networks she is recovering her life. Accused of money laundering and then after being tried, convicted to four years...

Honduras Tycoon Pleads Guilty to Money Laundering in US

Q24N (Insightcrime.org) One of Honduras' most powerful and politically-connected business tycoons, Yani Rosenthal, has pleaded guilty to a money laundering charge in the United States, suggesting the possibility that he could provide information on other Honduran elites involved in criminal activities. Rosenthal pleaded guilty July...

Implications of Costa Rica’s Money Laundering Law Reform

Q COSTA RICA - Lawyers, notaries, accountants, real estate agents, casinos, and non-profit organizations and others will be required to report suspicious transactions made by their clients that may be used as a tool for money laundering or for financing terrorism. Bill 19.951 approved in...

Costa Rica Model Released From Nicaragua Prison Back In The Country

Q COSTA RICA - A free woman and back in Costa Rica, Adriana Corella, says she is ready to close the page on the last year and four months of her life, is calm and doesn't hold any grudges against those who criticized here. Sentenced...

Why Did US Blacklist Most LatAm Countries for Money Laundering?

Q24N via Insightcrime.org - The United States has blacklisted nearly all Latin American countries for money laundering in 2017. InSight Crime explores why this is the case, and discusses some of the achievements and failings of regional anti-money-laundering efforts over the past year. Of the...

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