Regulatory and law enforcement scrutiny of money laundering is at an all-time high, and the government expects companies and financial institutions to do everything possible to prevent their financial systems from being used to facilitate crime. However, the combination of the ease with which funds can be moved around the world and the lack of transparency into the true beneficial owners of bank accounts has created unprecedented challenges for companies to live up to today’s expectations.
With regulatory and law enforcement scrutiny at an all-time high, our experts protect clients from the constant threat posed by money launderers.
Identifying money laundering schemes in today’s world requires real expertise. Exiger’s team includes not only financial investigation experts with decades of experience building and prosecuting money-laundering cases, but also senior financial crime compliance experts who hail from some of the largest financial institutions in the world. These experts have spent their careers protecting financial institutions and corporations from the constant threat posed by money launderers. More than most, our team truly understands criminals’ use of complex, offshore shell companies to conceal ownership.
Collaboration between Exiger’s worldwide network of skilled financial investigators, an unparalleled diligence team (in-house facility with 25+ languages), and financial crime compliance experts creates an exceptionally effective and efficient approach to uncovering money laundering schemes. Exiger’s professionals have deep experience working in foreign jurisdictions while fully complying with local regulations to identify and uncover complex money-laundering schemes. Our unparalleled skillset effectively lends itself to both public and private sector clients, including law firms, seeking to quickly and holistically identify schemes in which they have been exposed to money launderers.
AML and Money Laundering Investigations Case Studies
Argentinian Ponzi Scheme
As the U.S. federal court-appointed receiver for IATrading.com, an Exiger Managing Director investigated and confirmed a Ponzi scheme involving hundreds of investors and investments in excess of $40 million. Widespread investigations centering in Argentina followed involving a parallel group of investors who sought to defraud the receivership estate by concealing reimbursements they had received.
Financial Crime Rooted Out at International Bank
As a result of a law enforcement inquiry, Exiger was retained to review and synthesize thousands of documents on behalf of a major American bank to uncover suspected financial crime. The team investigated key relevant parties and created timelines and schedules, which they used to report their findings.
Repeated Investment Fraud Scheme Exposed
An Exiger Associate Managing Director worked with a U.S. client engaged in litigation over misappropriated investment funds. The investigation identified a pattern of lawsuits that indicated that the subjects were running a similar scheme using a vast network of companies. Working internationally, the team identified assets and business interests in the names of nominees. The team also uncovered details of the fraud scheme, the manner in which assets were diverted to related parties, and concealed assets in other offshore jurisdictions.
Prosecution of “Wolf of Wall Street” Law Firm Led by Exiger Managing Director
An Exiger Managing Director tried the money laundering case arising out of the prosecution of the Stratton Oakmont defendants depicted in the movie “The Wolf of Wall Street.” The scheme spanned multiple jurisdictions from the U.S. to Switzerland, Hong Kong, the Cook Islands, Guernsey, London, and Monaco.
Illegal Trans-European Double-Counting Revealed
While Principal Investigator in the UK Serious Fraud Office, an Exiger Director investigated a $42 million false accounting fraud at a UK bottled gas supplier, which involved analyzing asset purchases and movements to uncover a fraudulent double-counting scheme. The investigators traced funds through multiple jurisdictions, including Grand Cayman, Switzerland, and Spain. The participants were convicted of UK criminal fraud charges.
Multi-Billion Dollar Online Gaming Industry Shuttered in U.S.
As an FBI Special Agent, an Exiger Managing Director led a seven-year criminal investigation in the Southern District of New York into the illegal online gaming industry. The gaming companies had established an elaborate system of shell corporations, intermediaries, and payment processors around the world to move billions of dollars from customers in the U.S. overseas. Through detailed analysis of bank statements, ACH transactions and wire-transfer data, public record searches, source development, and detailed asset tracing, the investigators traced these payment networks and seized more than $1.5 billion, which was forfeited. The case also resulted in the convictions of the main stakeholders of the largest online poker companies in the world and the eradication of these gambling websites in the United States.
Proceeds from UK Based Narcotics Money Laundering Ring Traced
While working in the UK Serious Organized Crime Agency (now the National Crime Agency), an Exiger Director conducted a forensic accounting investigation into a narcotics money laundering ring that led to lengthy prison terms for the defendants. The investigation included analysis of the placement, layering, and integration of illicit proceeds through corporate entities and real estate, as well as a detailed net worth analysis.