Federal prosecutors in Massachusetts charged two Jordanian residents of Cyprus with running a money laundering scheme involving a bank account in Jordan, a wire transfer to an American lender and a forged invoice for medical equipment, court documents show. The alleged money launderers, Essam Sakkal, 39, and his brother Nabeel Sakkal, 24, who is still at large, also allegedly sought to purchase a large volume of weaponry, such as rifles and small rockets, for unspecified use, prosecutors said. They face up to 20 years in prison. The pair were indicted following a multiyear undercover operation in which an undercover agent...
The largest lender in Cyprus dropped 3,500 high-risk clients and four-fifths of its third-party business introducers over the past two years to reduce its exposure to financial crime, a senior executive with the bank said.
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