Day: June 16, 2021

On 16 June, the Sudan Post reported that South Sudan minister of Cabinet Affairs, Martin Elia Lomuro, has threatened to sue the Asset Recovery Agency of Kenya over fraud and money laundering allegation after his bank account was frozen. The High Court of Kenya has frozen the bank accounts of the South Sudanese minister over the transfer of more than $460,000 2016-2020.

https://www.sudanspost.com/embattled-minister-lomuro-threatens-lawsuit-against-kenya-over-seizure-of-460000/

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On 16 June, Yahoo News reported that Italian police said that they had broken up a complex money laundering operation and an illegal metal recycling business that had enabled criminals to transfer huge amounts of illicit cash between Italy and China.  The 3-year investigation, coordinated by the anti-mafia prosecutor’s office in the city of Trieste, showed the enormous lengths gangs were having to go to in order to clean ill-gotten gains, police said.  The case unveiled a network of companies that between 2013 and 2021 sold around 150,000 tonnes of scrap metal, including copper, brass and aluminium, that came from various sources, circumventing environmental norms and evading taxes on deals estimated to be worth some €300 million.

https://uk.news.yahoo.com/italy-says-busts-china-money-171654276.html

https://www.scmp.com/news/world/europe/article/3137574/italy-says-it-has-broken-china-money-laundering-operation-and

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On 16 June, OFAC advised of changes made to the entries relating to AVIATION INDUSTRY CORPORATION OF CHINA LTD (aka AVIC) and CNOOC LIMITED.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210616

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