After US Refused to Charge Them for Laundering Terrorist Money, Megabanks Busted AGAIN
Annabelle Bamforth
TheFreeThoughtProject.com
March 23, 2017
An investigative reporting coalition recently released a report alleging a multi-billion dollar money laundering operation that has affected hundreds of banks and companies in 96 countries including the repeat offender, HSBC.
In 2012, HSBC, one of the world’s largest banks, settled with the U.S. Government, avoiding criminal prosecution of its executives, for helping to launder money for Mexican drug cartels as well as Al Qaeda. According to the US Senate’s report, which investigated the matter, HSBC provided a “gateway for terrorists to gain access to U.S. dollars and the U.S. financial system.”
Loretta Lynch, while serving as the U.S. District Attorney in NY said HSBC engaged in a, “sustained and systemic failure to guard against the corruption of our financial system by drug traffickers and other criminals and for evading U.S. sanctions law.” As a result of the criminal charges for money laundering and admitted guilt in four counts against the global banking firm — the megabank was let off with a slap on the wrist.
“HSBC has agreed to forfeit 1.256 billion dollars, the largest forfeiture amount ever by a financial institution for a compliance failure,” Lynch stated.
Because they were let off with zero criminal charges, the bank was allowed to go back to crooked business as usual.
The Organized Crime and Corruption Reporting Project published a comprehensive narrative that details how billions of dollars were moved from Russian sources to bogus shell companies before traveling further into various banks, and ultimately numerous companies that inadvertently accepted corrupt funds.
The Rest…HERE
