HSBC to Pay $1.92 Billion to Settle Charges of Money Laundering
State and federal authorities decided against indicting HSBC in a money-laundering case over concerns that criminal charges could jeopardize one of the world’s largest banks and ultimately destabilize the global financial system.
Instead, HSBC announced on Tuesday that it had agreed to a record $1.92 billion settlement with authorities. The bank, which is based in Britain, faces accusations that it transferred billions of dollars for nations like Iran and enabled Mexican drug cartels to move money illegally through its American subsidiaries.
While the settlement with HSBC is a major victory for the government, the case raises questions about whether certain financial institutions, having grown so large and interconnected, are too big to indict. Four years after the failure of Lehman Brothers nearly toppled the financial system, regulators are still wary that a single institution could undermine the recovery of the industry and the economy.
Rest here…
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i fall into this category. who can I contact.
So another slap on the wrist with a warning not to be a bad bank again and away they go to perform more of thier nefarious deeds!!!Really?Seriously?Shut them down when this is done we will have justice and only then.
Being knee deep in fraudclosure in 15 states, litigating all my own cases on all our properties, and seeing the criminals (judges, wanker lying thieving attorneys) get away with this every day, I plead with all of you to use these useful idiots and the settlement to your advantage and notice the court of the pattern and practice of criminal behavior, right along with DocX guilty plea. Have recycled that guilty plea into Judicial Notice then setting up dumbo judge for recusal or disqualification for bias and prejudice per the “reasonable person” standard.
Forgot to mention the dumbo judge’s pension fund is invested in same banks. Direct pecuniary interest in outcome of the case is grounds for disqualification and complaint to whoever oversees dumbo judges. They will cover up as well, but you are making your record. Grand jury (while they still exist) should be on everyone’s agenda like it is mine. Have helped prep for a presentment and most likely the 23 grand jurors were spoken to (i.e. tampered with) but I can’t prove it. But that was just practice. They are the 4th branch of government so use them
Oh isn’t that just nice for the gov…and “real Victims ” ?????