TV News LIES

Friday, Aug 01st

Last update02:09:30 AM GMT

You are here News Of Special Interest How Colombian drug traffickers used HSBC to launder money

How Colombian drug traffickers used HSBC to launder money

E-mail Print PDF

 

HSBC laundred drug moneyWhen several Colombian men were indicted in January 2010 on money-laundering charges, the case in Brooklyn federal court drew little attention.
It looked like a bust of another nexus of drug traffickers and money launderers, with mainly small-time operatives paying the price for their crimes.

One of the men was Julio Chaparro, a 48-year-old father of four who owned three factories that made children's clothing in Colombia.

But to U.S. authorities the case was anything but ordinary. Chaparro, prosecutors alleged, helped run a money-laundering ring for drug traffickers that took advantage of lax controls at UK-based international banking group HSBC Holdings Plc. It was one of the most important leads for U.S. investigators pursuing a case against the bank that eventually led to a $1.9 billion settlement on December 11.

Chaparro was "basically putting the orchestra together" and investigators saw "him as a major player in terms of cleaning a lot of money," said James Hayes, special agent in charge of Homeland Security Investigations at U.S. Immigration and Customs Enforcement in New York. Known as ICE, the agency and its task force led the probe.

More...


Most Recent Related Stories...


Leading Sierra Leone doctor is second med worker to die of Ebola

Secind dictor dies if ebolaSierra Leone is in mourning after a leading virologist who risked his life to treat dozens...

Billionaire Ackman accuses Herbalife of fraud

HerbalifeBillionaire hedge fund manager Bill Ackman broadened his public assault Tuesday on diet shaker maker Herbalife,...

Obama to 'unlock' cellphone rights: How free will you be?

lockinh cellphoneA bill passed by Congress and waiting to be signed by President Obama represents a big...

Snowden: NSA snoops shared intercepted sextings

NSA intercepted sextsFormer National Security Agency contractor Edward Snowden says the analysts who monitored the texts and e-mails...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!