Megabank Caught Laundering for Terrorists & Drug Cartels and the Feds are Keeping it Secret By Editor on March 10, 201

When a bank is found guilty of doing business in countries where they’re not supposed to be, and when the same bank is found guilty of helping drug cartels launder money, shouldn’t the public have a right to know about the banks’ efforts at correcting such actions? That’s the question being raised with respect to HSBC’s 1.92 billion dollar settlement with the U.S. and oral arguments are taking place in federal court this week on whether or not the compliance report should stay sealed.

The bank lost in court in 2012 when it was discovered they had business dealings in, “Cuba, Iran, Libya, Sudan and Burma, racking up violations of the Bank Secrecy Act, the International Emergency Economic Powers Act and the Trading With the Enemy Act,” according to CNS. The bank’s executives, who knew full well what the bank was doing, were given deferred prosecution agreements, so long as the bank, going forward, would reform its business practices and comply with the law.

“HSBC admitted to violating U.S. sanctions laws and failing to stop Mexican and Colombian cartels from laundering hundreds of millions of dollars in drug proceeds through the bank,” but now is fighting to keep the contents of the compliance report a secret. And the bank is getting help from what should be considered the most unlikely of sources, the Department of Justice. Yes. That’s right. The same justice department which prosecuted HSBC and won, is now seeking to keep the progress, or lack thereof, in complying with the law, a secret.

One lone ranger, a mortgage holder with HSBC, is fighting to make the compliance report public. Hubert Dean Moore believes HSBC’s progress with complying with the law should be a matter of public record and is arguing his case this week in Manhattan, NY. The DOJ’s lawyer, Jenny Ellickson, argued for the government on Wednesday saying Gleeson shouldn’t’ be involved in the proceedings. She argued that releasing the report would make it harder for the federal government to enforce the deferred prosecution agreement adding that doing so would mean that HSBC would be less likely to cooperate going forward. “The importance of the monitor’s confidential sources is critical here,” she said according to the New York Post.

Yahoo News writes,

Circuit Judge Gerard Lynch, one of the judges on the panel, expressed skepticism of that argument, saying that sources were most likely to suffer retaliation from HSBC, which received the monitor’s reports anyway. Paul Clement, representing HSBC, said it would not be fair to the bank to have the report released, when the original agreement called for reports to be confidential. David Schulz, who represents Moore pro bono, said it was prosecutors, not Gleeson, who had overreached. When Lynch pressed him to explain what gave Gleeson the power to order the report’s release, Schulz cited his ‘inherent supervisory powers’ over the case.

For the moment the report will remain confidential, as judges continue to hear arguments both for and against releasing the compliance report’s findings. The federal government’s own lawyers are helping to keep it that way, and the bank is more than happy to keep their movements in complying or not complying with the settlement, a continued secret.

This article (Megabank Caught Laundering for Terrorists & Drug Cartels and the Feds are Keeping it Secret) was originally published on The Free Thought Project and syndicated by The Event Chronicle.

http://www.theeventchronicle.com/finanace/megabank-caught-laundering-terrorists-drug-cartels-feds-keeping-secret/

Advertisements
This entry was posted in * COURT CASE INFO, * FREEDOM FIGHTERS, * INFORMATION SOURCES, * MILITARY FORCE UNITS, * NEWS - WORLD UPDATES, - CRIMES Against Humanity, - WARS - ON HUMANITY, BAD BANKSTER ♠ CRIMES, FBI & CIA & Police Expose[d], HUMANS in SLAVERY, IMMEDIATE ATTENTION, INTERNATIONAL NEWS, LAW ENFORCEMENT, MILITARY RESOURCES, Nobility - NEGATIVE ELITES, POSITIVE vs NEGATIVE, SATANIC ♠ ILLUMINATI, SURVIVAL INFORMATION, UNJUST FRAUD CRIMES, UNJUST THEFT CRIMES, URGENT MESSAGES, WARS EVIL COMPANIES, WARS ON CLASSES, WHAT IS HAPPENING ?, What's Up - Dark Cabal, WORLD ♠ GANGSTERS. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: