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Panama money-laundering string ends in arrests

Thursday, July 9, 2015

Kenneth Landgaard had what he thought was a foolproof plan for moving illicit cash out of the U.S. to safe havens in Belize and Panama, prosecutors said: pack it in Louis Vuitton duffel bags.

On Wednesday, Landgaard and two other men were arrested after arriving in New York believing they’d be taking $2.2 million in a client’s stock-fraud proceeds to launder for a fee, said prosecutors in Brooklyn, New York.

Source: Bloomberg