TruthOut10
Active Member
- Dec 3, 2012
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(frankieleon)
Remember earlier this year when a Senate investigation found that HSBC had effectively turned its head while customers laundered billions of dollars for drug cartels and other illegal entities? Well, it looks like the bank will be hit with a record-setting settlement of $1.9 billion over the mess.
Citing those always dependable people familiar with the matter, the Wall Street Journal reports that the government could announce the settlement as early as Tuesday.
The reported $1.3 billion forfeiture would be the highest ever paid by a bank as part of a deferred-prosecution agreement, claim the Journals sources. The cherry on top is the $650 million civil penalty.
Report: HSBC To Pay $1.9 Billion To Wash Away Money-Laundering Claims
Remember earlier this year when a Senate investigation found that HSBC had effectively turned its head while customers laundered billions of dollars for drug cartels and other illegal entities? Well, it looks like the bank will be hit with a record-setting settlement of $1.9 billion over the mess.
Citing those always dependable people familiar with the matter, the Wall Street Journal reports that the government could announce the settlement as early as Tuesday.
The reported $1.3 billion forfeiture would be the highest ever paid by a bank as part of a deferred-prosecution agreement, claim the Journals sources. The cherry on top is the $650 million civil penalty.
Report: HSBC To Pay $1.9 Billion To Wash Away Money-Laundering Claims