Financial Crime World

US Government Seizes Over $300,000 in Alleged Money Laundering Funds in Northern Marianas

The United States Department of Justice (DOJ) has taken a significant step forward in an ongoing investigation into an alleged money laundering conspiracy in the Northern Marianas. On December 30, 2022, the DOJ filed a forfeiture complaint in the U.S. District Court for the Northern Marianas Islands.

Seized Funds and the Alleged Conspiracy

The complaint, which spans 21 pages, alleges that the seized funds, totaling $300,277, are linked to a suspected conspiracy involving foreign entities and individuals in the Commonwealth, as well as entities in Bermuda and the British Virgin Islands. The complaint specifically mentions accounts at the Bank of Saipan in the name of a company referred to as “MCS.”

  • The funds will be temporarily held by the court pending the outcome of the investigation.
  • The DOJ requested a restraining order to prevent any disposal or transfer of the funds.
  • The complaint states that the conspiracy is believed to have resulted in significant financial harm to victims, both in the Northern Marianas and abroad.

Further Details About the Investigation

The forfeiture complaint does not disclose any further details about the investigation, including the identities of the individuals and entities involved, or how the wire fraud and money laundering is alleged to have occurred. However, it does state that the conspiracy is an ongoing criminal case, USA v. $271,088 and $39,188, and is being investigated by the Federal Bureau of Investigation (FBI) and the Internal Revenue Service (IRS).

Ongoing Investigation and Handling by the DOJ

The filing of the forfeiture complaint marks a significant step forward in the investigation and serves as a reminder that the US government takes financial crimes committed in the Northern Marianas seriously. The DOJ’s Asset Forfeiture and Money Laundering Section is handling the case. While the case is ongoing, the DOJ declined to provide any further comment on the case beyond the forfeiture complaint.

With the seized funds as a substantial component of the conspiracy, the US government is working to ensure that they are not used to further criminal activity. The investigation continues and further updates will be provided as information becomes available.