HSBC Executives Avoid Laundering Charges
NEW YORK (AP) – When the Justice Department announced its record $1.9 billion settlement against British bank HSBC last week, prosecutors called it a powerful blow to a dysfunctional institution accused of laundering money for Iran, Libya and Mexico’s murderous drug cartels.
But to some former federal prosecutors, it was only the latest case of the government stopping short of bringing criminal money laundering charges against a big bank or its executives, at least in part on the rationale that such prosecutions could be devastating enough to cause such banks to fail.
- HSBC became bank to drug cartels, pays big for lapses – Reuters UK (uk.reuters.com)
- HSBC became bank to drug cartels, say US prosecutors (profit.ndtv.com)
- MSM Figures Out Big Banks Are Criminal Enterprises (ritholtz.com)
- HSBC to Pay $1.92 Billion to Settle Money-Laundering Probes – Bloomberg (bloomberg.com)
- HSBC to pay £1.2billion over US money laundering (metro.co.uk)
- HSBC Said to Near $1.9 Billion Settlement Over Money Laundering (dealbook.nytimes.com)
- HSBC settles US money laundering case for $1.9B (kansascity.com)
- ‘Bonuses restricted’ after HSBC is ordered to pay $1.9bn to settle money-laundering probe (independent.co.uk)
- HSBC to pay $1.9B to settle money-laundering case (cbc.ca)
- U.S. Goverment Says Drug Cartel-Linked Banking Giant HSBC Is Too Big To Jail (disinfo.com)