Tag: AML

Regulatory Watch News

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  Lithuania: EPPO secures conviction in EU subsidy fraud case involving eco-friendly cling film

  European Public Prosecutor's Office

  April 28, 2026

  (Luxembourg, 28 April 2026) – The European Public Prosecutor’s Office (EPPO) in Vilnius (Lithuania) has secured the conviction of four individuals in a case of attempted subsidy fraud, preventing the unlawful disbursement of nearly €2.6 million in EU funds. The ruling, issued by the Vilnius Regional District Court following a simplified procedure, imposed a total fine of €103 200 on the defendants, who pleaded guilty to attempted fraud and document forgery.

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  Europol supports hit against ‘Black Axe’ criminal organisation in Switzerland: 10 arrests

  Europol

  April 28, 2026

  Europol has supported a comprehensive investigation conducted by Swiss authorities in collaboration with German law enforcement against members of the international criminal organisation ‘Black Axe’. On 28 April 2026, house searches were carried out in several Swiss cantons, resulting in a total of 10 arrests, including the Black Axe “Regional Head” for the Southern European region. This operation targeted leaders and members of the Nigerian brotherhood suspected of being active internationally in a wide range of criminal activities.

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  New Jersey Man Sentenced To 42 Months For $9 Million Fraud

  United States Attorney Office -Southern District of New York

  April 27, 2026

  United States Attorney for the Southern District of New York, Jay Clayton, announced today that ARSEN LUSHER was sentenced to 42 months in prison by U.S. District Judge Dale E. Ho for perpetrating a scheme to defraud more than 20 investors of nearly nine million dollars.  On August 18, 2025, LUSHER pled guilty to one count of wire fraud.

  “Today’s 42-month sentence comes at the end of a too common story:  a fast-talking fraudster promising exceptional returns but not giving investors basic information,” said U.S. Attorney Jay Clayton.  “Arsen Lusher lied to victims about the nature of his business to line his own pockets.  When the walls came closing in, Lusher doubled down, creating false documents to try to lull his victims into a false sense of security about their investments.  Lusher’s fraud was brazen, and it cost his victims nearly $9 million.  A good rule of thumb for investors:  no audit, no investment.”