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Tag Archives: money laundering

Financial Institution Fraud-Criminal Case In South Florida Involving Attorney

Financial Institution Fraud-Criminal Case In South Florida Involving Attorney

A 55-year-old Lake Worth attorney, who turned himself into the FBI in June after spending roughly three months on the lam, has apparently reached a tentative plea deal with federal prosecutors for allegedly taking at least $7.2 million from clients. Appearing in court this morning, Timothy McCabe pleaded not guilty to five counts of fraud on a financial institution. He also waived indictment on the charges. In federal court, that typically signals that a plea deal is in the works. He remains in jail without bond. “He took the money and ran,” said Nancy Buchanan, a 70-year-old Lake Worth resident, who said she lost about $76,000 to McCabe. “He either spent it or stashed it.” She said she came to court today just to see the tall, heavy set man… […]

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Criminal Charges For Money Laundering

Criminal Charges For Money Laundering

It was a brazen bank heist, but a 21st-century version in which the criminals never wore ski masks, threatened a teller or set foot in a vault. Elvis Rafael Rodriguez and Emir Yasser Yeje, two of those charged in Brooklyn on Thursday, posed in March with approximately $40,000 in cash that the authorities say they were laundering. In New York City alone, the thieves responsible for A.T.M. withdrawals struck 2,904 machines over 10 hours starting on Feb. 19, withdrawing $2.4 million. The operation included sophisticated computer experts operating in the shadowy world of Internet hacking, manipulating financial information with the stroke of a few keys, as well as common street criminals, who used that information to loot the automated teller machines. On Thursday, federal prosecutors in Brooklyn unsealed an indictment… […]

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Political Ties, Money Laundering and Fraud Charges in South Florida

Political Ties, Money Laundering and Fraud Charges in South Florida

A powerful Delray Beach developer once tasked with helping appoint local judges also has ties so close to the Palm Beach County State Attorney’s Office that it is backing away from handling his prosecution for allegedly cheating a sandwich mogul out of more than $1 million. Anthony Pugliese and his business manager, Joseph Reamer, are fighting charges of conspiracy to commit organized scheme to defraud, money laundering and grand theft. Investigators say Pugliese, with Reamer’s help, created fake companies and phony invoices to steal $1.2 million from Subway founder Fred DeLuca. DeLuca at the time was working with Pugliese on Destiny, a failed $111 million, 41,000-acre “green” community planned just south of Yeehaw Junction in Osceola County. Pugliese, 65, and Reamer, 54, turned themselves in to Palm Beach County Sheriff’s… […]

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What is Money Laundering?

Money laundering is the practice of engaging in financial transactions to conceal the identity, source or destination of illegally gained money. It is a major crime in many states and countries. U.S. Federal law is severe: “Whoever knowingly conducts or attempts to conduct a financial transaction which in fact involves the proceeds of specified unlawful activity with the intent to promote the carrying on of specified unlawful activity shall be sentenced to a fine of not more than $500,000 or twice the value of the property involved in the transaction, whichever is greater, or imprisonment for not more than twenty years, or both.” In the past, money laundering only applied to organized crime. Today, it has been expanded to include private individuals, drug dealers, businesses, corrupt officials and even states.… […]

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