Too big to fail banks caught laundering money for Iran groups.

[dixiegrrrrl]

Nine banks have been caught up in the probe, and some are in discussions to settle, according to a person familiar with the case. Three have already. Last month, Barclays PLC in London agreed to pay $298 million and admitted to allowing payments on behalf of clients in Cuba, Sudan and other countries. Lloyds Banking Group in London and Credit Suisse Group in Zurich—banks that operated extensive transfer systems for Iranian clients—have agreed to settlements totaling $350 million and $536 million, respectively.

The investigators discovered that the banks ran dedicated units to systematically aid the undetected transfer of money through the U.S. banking system. They did that by removing identifying coding on fund transfers so they could evade automated U.S. bank computer systems designed to spot money flowing from a sanctioned state.

Hell of a story, here at link:

http://online.wsj.com/article/SB10001424052748703431604575468094090700862.html?mod=WSJ_hps_MIDDLEFifthNews

Criminal charges?
None.
Banks have arranged to "settle" for fines.
For sending money illegally to Iran.

I am out of curse words.

[xchrom]

1. Recommend - no criminal charges should speak for it's self. Nt

[Vinnie From Indy]

2. Just another glaring example of how laws in America only apply to some and not others

You can bet that the executives in charge of these criminal enterprises will never be charged.

[dixiegrrrrl]

3. These were apparently European banks lying to American banks

but still, they were allowed to pay a fine for international criminal acts, including conspiracy, and no one was jailed.
Nothing was said about any American banks like BOA or JP Morgan being involved....cough cough cough.

[HCE SuiGeneris]

4. Criminal charges?

:rofl: :rofl: :rofl:

These are BANKS we're talking about!


: sarcasm : intended

[h8okra]

5. I wonder why

the executives of these banks are never sued in civilian court by investors that have a vastly reduced return on investment because of the huge fines? Hmmm.... maybe the government leaders who receive bribes .... sorry ... I mean campaign donations write protections against civil suites into the law. Dang I wish I had finished my accounting degree. I would have enough money to hire buses to get all of us to the Oct. 2 rally.

[TheWatcher]

6. No Rule Of Law, No Accountability, No Representative Government = America Is Finished.