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Saturday, July 1, 2000
Volume:
16
Issue:
7
803
Abstract:
On November 30, 1999, the U.S. District Court for the Southern District of New York applied U.S. money laundering laws extraterritorially, marking the second reported decision applying such laws extraterritorially.
The case is United States v. Approximately $24,829,681.80 in Funds (Plus Interest) in the Court Registry Investment System, Formerly Held in Accounts Nos. 110-111888 and 110-10847 in the Name of Dr. Floriberta Clemente at Merrill Lynch, Pierce, Fenner & Smith Incorporated (hereinafter the Clemente case)…[more]