Since a wide variety of persons conceal assets by money laundering, it is the topic of today’s "Asset Search News Roundup".

  1. Former U.S. House Majority Leader Tom Delay was convicted of state money laundering violations on November 24th.

    As described by "DeLay Is Convicted in Texas Donation Case", Mr. Delay was indicted on money laundering charges five years earlier.

    Said indictment asserted that Mr. Delay helped to illicitly transfer $190,000 in corporate donations through the Republican National Committee.

  2. Reuters says that six officers from a now defunct Missouri-based funeral business have been indicted for alleged money laundering and numerous suspected crimes.

    The superseding indictment returned against the six seeks to forfeit property such as the Hollywood Forever Cemetery.

    Hollywood Forever is the 62-acre burial ground for stars like Cecil B. DeMille, Jayne Mansfield, Rudolph Valentino and Douglas Fairbanks.

  3. A November 22nd news release described this month’s meeting of experts from the Financial Action Task Force and the Egmont Group.

    The Egmont Group’s "Cases" webpage featuring money laundering typologies, is especially informative.

    One of these typologies outlines the transfer of funds without "economic justification", which can be a laundering red flag:

Typology / Case# 08008: Courtesy of The Egmont Group

Copyright 2010 Fred L. Abrams