Dherbs Forums
Welcome, Guest. Please login or register.
May 24, 2012, 09:45:23 AM

Login with username, password and session length
Search:     Advanced search
Welcome to the new and improved Dherbs Forums!
20558 Posts in 5808 Topics by 1955 Members
Latest Member: adminRob
* Home Help Search Calendar Login Register
+  Dherbs Forums
|-+  Politics / Conspiracy / Government
| |-+  Politics & Government
| | |-+  banking is dirty business
« previous next »
Pages: [1] Go Down Print
Author Topic: banking is dirty business  (Read 336 times)
alchemical ether
Guest
« on: March 21, 2010, 11:42:04 AM »

WACHOVIA TO PAY $160 MILLION FOR LAUNDERING DRUG MONEY

NY TIMES - The Wachovia Bank, a unit of Wells Fargo, has agreed to pay $160 million to settle a federal criminal case accusing it of laundering Mexican drug money, Reuters reports.

Under the agreement, Wachovia will forfeit $110 million, representing the proceeds of illegal narcotics sales that were laundered through the bank, the United States attorney's office in the Southern District of Florida said. The bank will pay an additional $50 million fine to the Treasury Department.

REUTERS - "Wachovia's blatant disregard for our banking laws gave international cocaine cartels a virtual carte blanche to finance their operations by laundering at least $110 million in drug proceeds," the United States attorney, Jeffrey Sloman, said Wednesday.

3/21/2010 


Logged
Kwabena
Full Member
***
Offline Offline

Posts: 100


View Profile
« Reply #1 on: March 23, 2010, 04:38:18 PM »

No surprise here...
Logged
Pages: [1] Go Up Print 
« previous next »
Jump to: