Six individuals and four corporate entities were charged for their alleged participation in securities fraud amounting to more than $50 million and a money laundering scheme that involved a Pablo Picasso painting. Defendants indicted in the scam in Brooklyn, New York, included London-based brokerage firm Beaufort Securities Ltd., offshore bank Loyal Bank and a London…

Authorities have nabbed a New York-based quartet of scammers who masterminded a multimillion-dollar identity theft and money laundering scheme using credit card skimmers. Ring leader Davit Kudugulyan, 45, pleaded guilty to second-degree money laundering in New York State Supreme Court in June 2015. He was sentenced to one to three years in prison and a…