Title: 10 Biggest Money Laundering Schemes In History | Geoffrey G. Nathan Law Offices
Headings: 10 Biggest Money Laundering Schemes In History
10 Biggest Money Laundering Schemes In History
HSBC
BCCI
Wachovia
Standard Chartered
Nauru
Al Capone
Meyer Lansky
Paul Manafort
Tom DeLay
Liberty Reserve
Conclusion
References
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Content: Al Capone
Credited by some with inventing the term money laundering by literally purchasing Laundromats to funnel his mob profits through, Chicago gangster Al Capone is perhaps the most famous money launderer in American history. Though he eventually was convicted of tax evasion, it’s estimated that Capone laundered upwards of $1 billion through various shady fronts. While Capone’s money laundering and other financial crimes were serious, the violence he perpetrated and encouraged in Chicago created chaos throughout the city, which is why the fact that his only conviction was finance-related is a difficult reality for many in the law-enforcement community. Meyer Lansky
If Al Capone is the most famous money launderer in American history, he owes much of what he earned, or stole, to Meyer Lansky, who was at one time was thought of as the accountant to the mob. Lansky helped develop the criminal underworld of the American mafia and pioneered a technique to use Swiss banks to hide his stockpiles of cash. Lansky never faced serious criminal prosecution, and upon his death in the 1980s, investigators were unable to find the $300 million they believed Lansky had hidden away. Paul Manafort
A short-lived campaign manager for then-presidential candidate Donald Trump, Paul Manafort’s legal situation is still developing, but Manafort has been convicted of multiple fraud charges and still faces accusations that he laundered more than $30 million in Russian money. Manafort remains jailed while the legal proceedings against him continue. Manafort and his associate Rick Gates, are accused of fudging financial documents and lying to accountants and tax preparers in order to shield millions of dollars from view. Tom DeLay
A former majority leader in the U.S. House of Representatives, Tom DeLay was convicted of money laundering, though that conviction was overturned by an appeals court in 2013.