Senate Report: Riggs Bank Helped Pinochet

[GreenPartyVoter]

WASHINGTON (AP) - An old-line Washington bank deliberately helped former Chilean dictator Augusto Pinochet conceal his wealth, move funds and evade efforts under court order to seize his assets, Senate investigators say.

Riggs Bank managers, working with Pinochet from 1994 to 2002, set up phony offshore companies and hid the existence of his accounts from U.S. examiners, according to the report being released Thursday.

The government recently fined Riggs a record $25 million for allegedly violating money laundering laws for the way it handled Saudi Embassy accounts and those held by officials of Equatorial Guinea.

The Senate report also details a pattern of lapsed oversight by regulators and questionable actions by Riggs managers in the handling of the Pinochet accounts. Investigators contend a bank vice president suppressed government documents related to Pinochet's accounts while he worked for the government as a regulator supervising Riggs.

http://apnews1.iwon.com/article/20040715/D83R6R180.html

[ret5hd]

1. isn't this riggs bank...

the one *bush's uncle recently resigned as board member?

[GreenPartyVoter]

2. Ooohh... hadn't heard that bit before!

[ret5hd]

3. googled riggs bush

jonathan bush, *bush's uncle, ran an investment arm of the bank ...not on the board

sorry.

[diamond14]

4. BFEE and bush* himself have been involved with RIGGS BANK for years

"Investigators also discovered large payments by oil companies, including U.S. concerns, to Equatorial Guinea officials and their relatives and to businesses they controlled. That raised concerns about corruption, the Senate investigators said.

Riggs, a Washington-based institution since the mid-19th century, has a near-exclusive franchise on business with the capital's diplomatic community. It was accused by federal regulators earlier this year of failing to report suspicious transactions in accounts controlled by diplomats from Saudi Arabia and officials of Equatorial Guinea."


THIS is a BIG BUST.....a Senate Report...computers and the Federal Funds for tracking "TERRORISTS" are now finding the REAL TERRORISTS...bush* and his family....

funny, bush* and his relatives are getting caught by their OWN Patriot Act...it's the tail that came back around and BIT them....

added note: if you get off the MetroTRain at the Navy Memorial Stop...you'll see the RIGGS BANK across the street on the park near Starbucks....and the RIGGS has been painted over on their beautiful brass sign to now say: PIGGS BANK....and lying all over in the park, are our HOMELESS VETERANs, the result of the PIGGS BANKS investments in oil and wars all over the world....

[diamond14]

5. all DUers should read this article about bush* and the RIGGS BANK

it is THE most important revelation about bush* and how the BFEE runs terrorist organizations for their oil investments world-wide...