Pages: 1

 

2010-03-18 11:46:08
ATG
Banned
+5,233|6815|Global Command
As a settlement to keep the bank executives from being prosecuted for assisting Mexican drug cartels launder drug money.

Story on AP news, can't post links but this blows my mind. They got caught red handed with 110 million of drug money which was seized and fine 50 million dollars.

This was page nine of the business section in the L.A. Times.

Why are there to be no arrests?
Did that bank get Tarp funds?


Outrageous.

http://www.latimes.com/business/la-fi-w … 4239.story

link added to OP - K-J
2010-03-18 11:50:30
blademaster
I'm moving to Brazil
+2,075|6931
everyone is trying to rob the country while they still can..... or before the ship sinks.....
2010-03-18 12:20:29
Iconic Irony
Bare Back Rough Rider
+189|5562|San Angelo, TX
I prefer to bury my head in the sand.  There is nothing anyone can do about any of this and the less I know the better.



*Makes like an ostrich.
2010-03-18 12:37:35
Pug
UR father's brother's nephew's former roommate
+652|6828|Texas - Bigger than France

ATG wrote:

As a settlement to keep the bank executives from being prosecuted for assisting Mexican drug cartels launder drug money.

Story on AP news, can't post links but this blows my mind. They got caught red handed with 110 million of drug money which was seized and fine 50 million dollars.

This was page nine of the business section in the L.A. Times.

Why are there to be no arrests?
Did that bank get Tarp funds?


Outrageous.

http://www.latimes.com/business/la-fi-w … 4239.story

link added to OP - K-J
I think you added a little liberty to your first sentence.

The were not "assisting" in anything.  It's just they lacked the crap needed to detect it.  Incompetence, yes.  Criminal assistance? no.

Why are there no arrests?  Because they complied when the error was found and paid a fine of $50M.
2010-03-18 12:53:34
ATG
Banned
+5,233|6815|Global Command
Actually the newspaper said that obvious red flags were ignored on orders from executives.

That means the cash was flagged and they let it through anyway, that's why they are getting raped.

I doubt that the bank will tell the cartels they are out of luck for the 110 million.
2010-03-18 13:45:37
Pug
UR father's brother's nephew's former roommate
+652|6828|Texas - Bigger than France
Actually the newspaper said that the prosecutors said that obvious red flags were ignored from executives.

My guess is the prosecutors would say a lot of other things too, but it doesn't mean any of it is true.

They are guilty of not putting the detection processes in place for sure, but assisting?  That would be tough to prove.

But anyhow...idiots idiots idiots.
2010-03-18 14:17:54
Hurricane2k9
Pendulous Sweaty Balls
+1,538|5988|College Park, MD
hang them
https://static.bf2s.com/files/user/36793/marylandsig.jpg
2010-03-18 16:59:50
Turquoise
O Canada
+1,596|6691|North Carolina

blademaster wrote:

everyone is trying to rob the country while they still can..... or before the ship sinks.....
2010-03-18 17:09:46
Kmar
Truth is my Bitch
+5,695|6887|132 and Bush

idk if this is actually "assisting" them in laundering money. They didn't have a maintained system in place to help catch them. Just because you don't have a speed trap on every corner it doesn't mean that cops are assisting speeders. Intent is important.

"If those and other conditions are met within one year, potential criminal charges for failure to maintain a system to detect money launderers will be dropped."
Xbone Stormsurgezz

 

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