Wachovia Laundered Billions From Mexican Cartels
Newser
April 4, 2011
During a 22-month investigation by agents from the US Drug Enforcement Administration, the Internal Revenue Service and others, it emerged that the cocaine smugglers had bought the plane with money they had laundered through one of the biggest banks in the United States: Wachovia.
The authorities uncovered billions of dollars in wire transfers, traveller’s cheques and cash shipments through Mexican exchanges into Wachovia accounts.
More shocking, and more important, the bank was sanctioned for failing to apply the proper anti-laundering strictures to the transfer of $378.4bn – a sum equivalent to one-third of Mexico’s gross national product – into dollar accounts from so-called casas de cambio (CDCs) in Mexico, currency exchange houses with which the bank did business.
Share this article:
Print this page.
Mark of the Beast: Bilderberg Pushes Mandatory Internet ID for Europe (297 comments)- House Passes HR 4133 Binding the US to Israel and Their War Agenda (291 comments)
- Bennett Backs Off Birther Issue As Hawaii Sends Arizona Obama Verification Document (249 comments)
- Fukushima: If Number 4 Collapses, Japan Will Be Evacuated (211 comments)
- Australians Face Huge Fines For Speaking Ill Of New Carbon Tax (162 comments)
