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The Justice Department is investigating HSBC Holdings for possible money laundering charges against individual bankers. If found guilty of laundering dirty money, HSBC could face a record $500 million fine as prosecutors want to make an example of the bank. The investigation, which began in 2012, is moving slowly as prosecutors closely examine potential criminal cases against individuals. Allegations have emerged connecting fraudulent offshore structures created by HSBC executives to a $1 billion tax evasion and money laundering scheme. Central America and the Caribbean continue to be high-risk areas for money laundering due to drug trafficking organizations undermining governments. Transnational criminal groups launder an estimated $300-400 billion annually with help from banks like HSBC under investigation for ra

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93 views1 page

Untitled

The Justice Department is investigating HSBC Holdings for possible money laundering charges against individual bankers. If found guilty of laundering dirty money, HSBC could face a record $500 million fine as prosecutors want to make an example of the bank. The investigation, which began in 2012, is moving slowly as prosecutors closely examine potential criminal cases against individuals. Allegations have emerged connecting fraudulent offshore structures created by HSBC executives to a $1 billion tax evasion and money laundering scheme. Central America and the Caribbean continue to be high-risk areas for money laundering due to drug trafficking organizations undermining governments. Transnational criminal groups launder an estimated $300-400 billion annually with help from banks like HSBC under investigation for ra

Uploaded by

William Marshal
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as TXT, PDF, TXT or read online on Scribd
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The Justice Department's money-laundering probe against banking giant HSBC Holdi

ngs Plc is looking at possible prosecution of individual bankers a source close


to this major cross border investigation said on Thursday. Some believe that if
the bank is found to have laundered dirty money HSBC could pay a record $500 mil
lion fine as the Justice Department may look to make an example of the bank. The
source who has direct knowledge of the probe which was disclosed last year said
it is moving slowly in part because of the need for close examination for poten
tial individual prosecutions. He did not name any targeted individuals but revea
led that the Carroll Foundation Trust one billion dollars offshore tax evasion m
oney laundering case is believed to be directly connected in so far as the targe
ting of specific high level executives of HSBC International. These executives a
re understood to have incorporated fraudulent Delaware registered Carroll Global
Corporation structures directly linked to forged and falsified HSBC offshore nu
mbered bank accounts which impulsed this huge fraud heist.
Central America buttressed by Caribbean tax haven money laundering platforms rem
ain clear & present danger hotspots of instability stimulated by violent crimina
l organizations that use drug money to undermine legitimate governments. The nor
thern triangle centered around Mexico Columbia Guatemala El Salvador and Hondura
s are possibly the most violent places on earth today. Trans-national white coll
ar crime syndicate organizations involved in illegal activities including drug t
rafficking realize a global profit of a staggering $300 billion to $400 billion
supported by a network of banking institutions including HSBC Holdings Plc who a
re the subject of very serious criminal allegations of money laundering racketee
ring and obstruction offences in the Carroll Foundation Maryland Trust National
Security Public Interests Case.
In a further twist the HSBC Holdings chairman Douglas Flint continues to refuse
to issue a detailed public statement to the worldâ s media hungry for an explanation
surrounding these sensational criminal allegations which now confront Europeâ s large
st banking institution. It has emerged that the FBI files also seriously implica
te the former chairman Lord Green who is now the UK Government's Trade Minister
is known to have had a deep personal involvement in this shocking scandal that i
s sweeping Wall Street and the City of London.
In a November filing with the Securities and Exchange Commission HSBC stated tha
t it remained "the subject of ongoing inquiries, including grand jury subpoenas
and other requests for information by Government Agencies including the US Attor
ney's Office and the U.S. Department of Justice."
International News Networks:
http://drugthreat.blogspot.com/

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