Swiss banker’s sentence slashed in alleged $1B Venezuelan money laundering scheme

first_img Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Message* U.S. District Judge Cecilia M. Altonaga of the Southern District of Florida reduced his sentence to three-and-a-half years in September, due to Krull’s cooperation with the federal government, according to an order that was unsealed on Tuesday. Krull is expected to begin his sentence in July.The Miami Herald first reported the sentencing reduction.Krull’s attorney Oscar Rodriguez did not immediately return a request for comment.Federal prosecutors said that Krull cooperated immediately, which helped them go forward with other investigations. That included the guilty plea of two other defendants in the money laundering case, according to court filings.Krull was allegedly a conduit to move $600 million in siphoned funds to a European financial institution, where the money would ultimately be used by Venezuelan TV mogul, Raúl Gorrín, as well as PDVSA officials, and three stepsons of Venezuelan president Nicolás Maduro, according to the Miami Herald, citing federal law enforcement officials familiar with the case.The scheme started in 2014, and Krull joined in about 2016 when a co-conspirator contacted him to launder the proceeds of a PDVSA money, according to the U.S. Department of Justice. Eventually the money laundering operation, which exploited Venezuela’s fixed exchange rate for government officials, grew from $600 million to $1.2 billionOne of Krull’s clients was Francisco Convit Guruceaga, a main orchestrator of the scheme, according to federal prosecutors.Separately, a former national treasurer of Venezuela, Alejandro Andrade, was sentenced to 10 years in prison in 2018 for receiving over $1 billion worth of bribes from his co-conspirator, Venezuelan TV mogul Gorrín, according to the U.S. Department of Justice. As part of Andrade’s guilty plea, he agreed to forfeit his assets, which included 17 champion show horses and five real estate properties in Palm Beach County.Contact Keith Larsen Email Address* Full Name* Matthias Krull (Linkedin, iStock, US District Court – Sourthern District of Florida/Illustration by Alexis Manrodt for The Real Deal)A Swiss banker’s sentence was cut for his role in an alleged $1 billion international money laundering scheme that illegally funneled money into South Florida real estate.Matthias Krull was a key figure in a sophisticated scheme in which Venezuelan officials and wealthy elite siphoned money out of the country’s state oil company, PDVSA, and into assets in Europe and the United States, according to federal prosecutors. Some of the money allegedly went to buy luxury properties in Wellington, Coral Gables’ Cocoplum neighborhood and in Sunny Isles Beach, including at the condominium Porsche Design Tower.Krull, a wealth manager with the Swiss bank Julius Baer Group, was initially sentenced in 2018 to 10 years in prison for his role in the money laundering operation.ADVERTISEMENTRead moreSee no evil how a culture of secrecy boosts south floridas condo marketVenezualan oil exec pleads guilty in $1b money laundering schemeHEADLINE Share via Shortlink coral gablescrimeMoney LaunderingReal Estate Lawsuitssunny isles beachwellington Tagslast_img read more

BREAKING: Foxtons buys rival’s lettings book for £2.2 million

first_imgFoxtons has bought its second  estate agency this year, this time for £2.2 million.The company has announced the acquisition of the entire issued share capital of Aston Rowe Holdings Ltd which operates two-branch agency Aston Rowe.It has branches in Acton and Brook green in West London and was set up in 2011 by Billy Rowe and Luke Simpson.Rowe (pictured) is a career London estate agent while Simpson, who has been running its lettings business and marketing, originally hails from New Zealand.Foxtons says it has only bought the agency and its lettings book, which comprises 689 tenancies and ten employees, as its sales operation is not included within the deal.Rowe and Simpson will retain their sales office as well as the Rowe name for property sales.Business modelFoxtons says Aston Rowe’s lettings book will fit well with its existing business model and branch network “due to the high level of customer service and strong growth record,” the company says.“It is expected that this transaction will be earnings enhancing in 2021,” the company says.Although Foxtons has paid £2.2 million for Aston Rowe’s lettings operation out of its cash reserves, £200,000 is deferred for a period of six months.This buys a business with a £1.1 million turnover and £500,000 profit for the 12 months to August 2020 and assets of £2 million.“The implementation of our strategy to acquire well run lettings businesses with a strong local presence continues to gather momentum,” says Foxtons.Taking into account the earlier acquisitions made in 2020, it has now acquired a total of 1,600 tenancies, with historical annual revenues of £2.8m for a total consideration of £4.6m.This includes its purchase of London Stone Properties for £2.2 million in March this year.Billy Rowe Luke Simpson Foxtons acquisition Aston Rowe Aston Rowe acquisition london stone properties Foxtons November 24, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » BREAKING: Foxtons buys rival’s lettings book for £2.2 million previous nextAgencies & PeopleBREAKING: Foxtons buys rival’s lettings book for £2.2 millionLondon’s best-known agency has bought 689 tenancies and ten staff off Aston Rowe, which will continue to trade as a sales operation.Nigel Lewis24th November 202001,925 Viewslast_img read more

Disrupting Strait of Hormuz Would be “Illegal and Unsuccessful”, U.K. Defence Secretary Says

first_img View post tag: Defence Back to overview,Home naval-today Disrupting Strait of Hormuz Would be “Illegal and Unsuccessful”, U.K. Defence Secretary Says Authorities January 6, 2012 View post tag: Unsuccessful View post tag: Hormuz View post tag: Disrupting View post tag: News by topic Disrupting Strait of Hormuz Would be “Illegal and Unsuccessful”, U.K. Defence Secretary Says View post tag: would View post tag: Naval View post tag: Strait View post tag: says View post tag: Secretary View post tag: Navy View post tag: U.K. View post tag: Illegal U.K. Defence Secretary Philip Hammond has stated that any intention by Iran to disrupt the flow of oil through the Strait of Hormuz will be deemed as illegal and unsuccessful.He added that disruption to the flow of oil through the strait will impose a threat to regional and global economic growth and that the U.K. Royal Navy will have a considerable role as part of the Combined Maritime Forces, both at the Headquarters in Bahrain and through the mine counter-measure vessels which help maintain freedom of navigation in the Gulf.Iran has threatened to block oil deliveries through the Strait of Hormuz should global powers impose sanctions on the country’s oil industry due to its nuclear activities.Hammond is visiting Washington on Thursday to meet U.S. Defense Secretary Leon Panetta and discuss Afghanistan, the Gulf and defense cooperation.[mappress]Naval Today Staff , January 06, 2012; Image: 7sur7 Share this articlelast_img read more

CNO, MCPON Discuss Leadership

first_imgBack to overview,Home naval-today CNO, MCPON Discuss Leadership Chief of Naval Operations (CNO) Adm. Jonathan Greenert and Master Chief Petty Officer of the Navy (MCPON) Mike Stevens discuss leadership in the latest chapter of “Conversation with a Shipmate.” View post tag: Naval View post tag: CNO Authorities During a trip to the Pacific Northwest region the two leaders sat for an interview with Mass Communication Specialist Second Class Fred Gray to talk about an essential aspect of military service.“For well over the two hundred years of this great Navy of ours somebody has to lead, has to define the reality to people, their reality and why they are doing what they are doing and what the mission is,” said Greenert.Leadership is the foundation of the Navy and its heritage, Greenert added.During the interview Greenert made two main points about leadership, integrity and character. He said integrity is the foundation of leadership and Sailors have to believe and trust each other. Number two, leaders must have character with a foundation of good ethical behavior. And MCPON highlighted during the interview the need to develop leaders calling it his number one priority.“If we hope to continue to get better as a Navy,” said Stevens, “we have a responsibility to always seek ways to improve leadership and leadership opportunities.”Greenert and Stevens gave the interview Aug. 6, the day after the FY2015 Chief Petty Officer advancement list came out. They welcomed the opportunity to discuss senior enlisted leadership development.Speaking on the controversy surrounding the changes made to the Chief’s training process with the inception of CPO365; MCPON thanked the world-wide Chief’s mess for implementing the program so effectively.“I never asked it to be easy, I want it to be hard, testing and challenging,” said Stevens. “I believe we can accomplish that while also treating one another with the dignity and respect I often talk about.”Greenert recalled three Chief Petty Officers he has encountered in his over 40 years of naval service as instrumental leaders and mentors, as he called them out by name.“You ask any officer, somebody sat them down at some time and brought them along,” said Greenert. “The CPO Mess takes care of our officer corps, the lead the vast majority of the Navy and directs the work that gets done day in and day out.”Both leaders stressed the fact that though senior enlisted and officers need to set the moral example, leadership is something that needs to be cultivated throughout every rank in a military member’s career.“Where there are two Sailors, there will always be at least one leader,” said Stevens. “So to me leadership has no rank. Leadership is something that everyone is responsible for, and must embrace.”“I need our E-1s and O-1s to understand the foundational pieces, number one integrity. They have to understand integrity and understand the basics,” said Greenert who went on to highlight the importance of integrity, trust and good character in the Navy when people are watching and not watching. “You can’t go to sea, with 200 to 300 people and not have trust in them,” he said.Revitalizing incremental leadership such as the Perry Officer leadership and the Senior Enlisted Academy requirements has been a priority for both Greenert and Stevens during their tenures as the top Navy leaders.Lastly, both leaders answered the question, ‘are leaders born or bred?’“You take someone who can communicate and you give them a foundation of character, understanding of integrity, teach them the importance of a professional skill and you’ve got a nice mixture of a great leader,” said Greenert.[mappress]Press Release, August 13, 2014; Image: US Navy August 13, 2014 View post tag: americas View post tag: News by topic View post tag: discuss Share this article CNO, MCPON Discuss Leadership View post tag: MCPON View post tag: Navy View post tag: Leadershiplast_img read more

USS Sampson to Search for Air Asia Flight QZ8501

first_img View post tag: QZ8501 USS Sampson to Search for Air Asia Flight QZ8501 View post tag: asia December 30, 2014 View post tag: air At the request of the Government of Indonesia and as directed by U.S. Pacific Command, U.S. Pacific Fleet has authorized U.S. 7th Fleet to position USS Sampson (DDG 102) in the general search area for missing Air Asia Flight QZ8501 to support search operations.Authorities in the region continue to lead the search and rescue effort. The U.S. Navy is working closely with the government of Indonesia to identify additional surface or airborne capabilities that best assist their search efforts.USS Sampson is homeported in San Diego and is in the midst of an independent deployment to the Western Pacific.Press Releasecenter_img View post tag: News by topic View post tag: Flight Back to overview,Home naval-today USS Sampson to Search for Air Asia Flight QZ8501 Share this articlelast_img read more

Iffley Road Sports Centre will not be used for teaching in “major win for students”

first_img“We aim to support student sport as much as possible, and the Sports Department is preparing contingency plans to support sports clubs in adopting safe practices in University and College settings.” The University states that sports halls may be needed for exams in Trinity term, which SU officers have acknowledged. The University states: “The health and well-being of ourstaff, students and local community is our top priority, and we are committedto helping students to get active as much as possible, whilst also ensuringactivity is undertaken within Covid-safe arrangements.  “During discussions, it was acknowledged and agreed by SUofficers that there may be a need to use the sports halls for some examinationsin Trinity Term – when sports hall use is reduced. However, no decisionshave yet been taken, and further information will follow as we develop ourplans for assessments in the next academic year.   Ben Farmer, Oxford SU VP Charities and Community, said: “We’redelighted to have helped secure this major win for students which shows thevital importance of sports at all levels at Oxford. The inspiring studentcampaign from the Oxford University Sports Federation Executive Committee andthe large numbers of students who supported this issue has been great to seeand we’re pleased the University has recognised this in their decision. Isabel Creed and Christy Sadler, Welfare Officers on the Oxford University Sports Federation Executive Committee, said: “We’re really pleased to see that the University has made this decision which shows the importance of sport of Oxford. We’d like to thank all the sports clubs, students and alumni who got involved and share the campaign to help get this win and we look forward to working with the University on the return to sport at Iffley Road and beyond.” “Following ongoing assessment of space requirements, and inconsultation with Oxford SU sabbatical officers, the indoor sports halls are nolonger under consideration for potential teaching and academic purposes inMichaelmas term. “We have well-developed plans for the safe re-opening of the swimming pool and outdoor pitches; and are undertaking detailed planning work on the safe provision of indoor sport when suitable processes and safeguards are in place. A new Oxford Sports app is now available, incorporating online streaming classes.  Students at the Oxford University Sports Federation Executive Committee, led by Isabel Creed, Christy Sadler, and Aisha Cooper, campaigned to keep use of the Iffley Road Centre for sports. The Save Iffley Road campaign open letter secured over 1500 student signatures, with representatives from 95% of registered Oxford University sports clubs. “There are still some uncertainties which remain around the planned opening of the sports centre and other facilities as well as the procedures for both college and University sport. We will continue to work for students in lobbying the collegiate University on these issues.” Image credit to Cyblocker/ Wikimedia Commons. The SU describes this as a “major win for students” after “significant lobbying efforts” from elected officers. Sabbatical officers opposed using the sports hall for teaching in consultations with the University, including at Michaelmas Co-ordination Group, Education Strategy Group, and the Estates Department and the Academic Registrar. Oxford University has announced that Iffley Road Sports Centre will not be used for teaching in Michaelmas 2020, after students and the Oxford Student Union (SU) campaigned against proposals to use the sports halls for academic purposes. last_img read more

Why can’t the Christmas Spirit be alive throughout the year?

first_imgRespectfully yours,John Di Genio Dear Editor:The holiday season is here! Shoppers rush from store to store, looking for the right gift for that special someone. Yuletide cheer is alive and well. Passers-by seem more friendly than usual. Strangers are willing to lend a helping hand. Peace, love, and understanding supplant anger, hate, and intolerance. Truly, the magic of Christmas brings people closer together. However, about the second week in January, dried-out Christmas trees, Yuletide decorations, and holiday gift-wrappings are thrown away. Sadly, along with those festive trimmings go our kindness. Nasty snarls and frigid looks replace cheerful holiday greetings. A helping hand from a stranger is looked upon with suspicion. Prejudices and bigotry are rekindled. Why can’t the Christmas Spirit be alive throughout the year? The Christmas season clearly demonstrates that society can set aside its differences and live in harmony. last_img read more

North East Bakery snaps up Milligans bakery outlets

first_imgNewcastle-based North East Bakery has bought 15 Milligans high street bakery shops for an undisclosed sum.Milligans, which was ranked number 42 in British Baker’s recent top 50 bakery retailers’ list, had 22 shops in the Newcastle area.North East Bakery, which was started three years ago as a wholesale and sandwich supplier, had six shops under the ’Nichols’ brand. It now plans to convert the stores to its Nichols fascia over the next 12 to 18 months.The £4 million turnover company will relocate to Milligans’ 20,000sq ft bakery in Newburn, following the asset purchase. The North East Bakery company has also taken on 100 Milligans staff, increasing staff numbers to 150.Milligans has retained four outlets, to be run as coffee shops.Greg Phillips, MD of North East Bakery commented: “This is a very exciting time for North East Bakery as it marks the start of a major growth period for the company.”last_img read more

News story: Toys “R” Us Ltd in administration: how to claim redundancy or register as a creditor

first_img you haven’t been paid for goods or services you’ve supplied to Toys “R” Us you’ve paid Toys “R” Us for goods or services that you haven’t received If you need help completing your application, you can contact the Insolvency Service’s Redundancy Payments helpline on 0330 331 0020.When calling, please have your case reference number (eg CN12345678) and National Insurance number to hand. If you do not have a case reference number, please contact the administrator.If you need to email us after submitting your claim, please only use the email address you gave on your application form. Otherwise, we won’t be able to respond to you for security reasons.Other support available to youFactsheet: finding a new job, managing your finances and benefits available to you.Information for creditorsYou’ll need to register as a creditor in the administration if: Workers and self-employed contractors who provided services to the company are not eligible to apply. Instead, these individuals should contact the administrator to register as creditors.How to applyThe administrator will give details about how to apply and will also give you a case reference number (eg CN12345678).Once you have this information you can apply online.Paying your claimOnce you submit your online application, it takes us an average of 14 days to process your application and pay claims.However, sometimes we need to get additional information from you or from the administrator. This can take a bit of time.We’ll contact you directly if we need anything from you.We always try to pay eligible claims within 6 weeks of receiving the application. legal or financial advice information on specific insolvency cases information or advice on matters directly relating to other government departments Information for former employees:If you’ve been dismissedIf you’ve been dismissed, you might be entitled to redundancy pay and statutory notice pay from the Insolvency Service.The amount the Insolvency Service can pay you will be subject to certain legal limits. Information about the legal limits is available.Other money you’re owed will be paid to you automatically through the company’s payroll. This includes holiday pay, salary, wages, or overtime you’re owed.Who is eligibleYou can to apply to the Insolvency Service for redundancy pay and statutory notice pay if: Please don’t contact us to check the status of your application until after the six weeks have passed. This will help us deal with everyone’s application as quickly as possible. Insolvency Service helpline They cannot give you: The Insolvency Enquiry Line can give you general information about: For information about the insolvency process contact the Insolvency Service helpline. The helpline is open 9am to 5pm Monday to Thursday, and 9am to 3pm on Friday. We can give you information about processes administered or regulated by the Insolvency Service. This includes bankruptcy, debt relief orders and company liquidations.We cannot give you: legal or financial advice, information on specific insolvency cases, information or advice about other government departments or information about redundancy payments. If you are contacting about an existing bankruptcy or compulsory company liquidation case, use our ‘contact an official receiver’ guidance. Insolvency Service helpline 0300 678 0015 Contact form http://www.insolvencyd… Getting helpFurther information for Toys “R” Us team members can be found on the Toys “R” Us website.If you have questions about your situation or about any wages, salary, overtime, or holiday pay you’re owed, you can contact ERA Solutions by: phone: 01827 383531 email you worked for Toys “R” Us under an employment contract you live in England, Scotland or Wales insolvency redundancy what redundancy payments offices do where you can go to get the information or advice you need Information about how to register as a creditor can be found on the Toys “R” Us website.If you have any question, you can also contact the Insolvency Enquiry Line:last_img read more

Corn Marketing.

first_imgCorn growers have a don’t-miss opportunity to learn how to better grow, manage and market their crop Jan. 29 in Tifton, Ga.”The course will be a tactical marketing seminar,” said Dewey Lee, agronomist with the University of Georgia Extension Service.Farmers today have to do more than just grow a good crop. With paper-thin profit margins, they must be successful at marketing too. “We’ll show them what they need to do,” Lee said, “to develop a strategy for marketing corn grown in Georgia.”Registration begins at 8:30 a.m. at the Rural Development Center. It’s $10 at the door, or $5 before Jan. 14.For more information, call (229) 386-3430.last_img