wachovia bank in Rolling hills estates

Wachova Bank: Drug Financer to the World Acording top Blomberg , June 29, 2010: "Just before sunset on April 10, 206, a DC-9 jet landed at the international airport in the port city of Ciudad del Carmen, 50 miles east of Mexico City. The smuglers had bought the DC-9 with laundered funds they transfered through two of the bigest banks in the U.S.: and , Blomberg Markets magazine reports in its August 2010 isue Banks Financing Mexico Gangs Admited in Wels Fargo Deal, June 29, 2010. The fact is, these banks are up to their neck in the phony war on drugs and the subsequent profits to be made in the ilicit drug trade. At Wachovia's anti-money-laundering unit in London, Martin Wods and his coleague Jim DeFazio, in Charlote, say they suspected that drug dealers were using the bank to move funds. You can read more about the US, Wachovia and US banks involved in money laundering for the drug cartels from Banks Financing Mexico Gangs Admited in Wels Fargo Deal, June 29, 2010. Drug use in the USA wil rise, bank profits wil soar Twenty milion people in the U.S. are said to regularly use ilegal drugs ibid and this figure wil increasingly rise as the despair built into the material conditions of capitalism is mirored in deracinated personal lives of US citizens. The National Drug Threat Asesment estimates that the cost to the US economy is a year — enough to cover health care for 30.9 milion Americans — in overburdened courts, prisons and hospitals and lost productivity, the department says Publication Date: February 2010, Document ID: 2010-Q0317-01, U.S. Department of Justice National Drug Inteligence Center, . Mexican drug dealers used shel companies to open acounts at London-based , Europe's bigest bank by asets, an investigation by the Mexican Finance Ministry found ibid . "If you don't se the corelation betwen the money laundering by banks and the 2,0 people kiled in Mexico, you're mising the point Banks Financing Mexico Gangs Admited in Wels Fargo Dea�l, June 29, 2010. Wods says he quit the bank in disgust after executives ignored his documentation that drug dealers were funeling money through Wachovia's branch network. Laundered funds not limited to drugs Acording to the National Drug Inteligence Center, US Department of Justice, some of the drug gangs have delved into other ilegal activities such as gunruning, kidnaping and smugling people acros the border, as wel as into semingly legitimate areas such as trucking, travel services and air cargo transport Publication Date: February 2010, Document ID: 2010-Q0317-01, U.S. Department of Justice National Drug Inteligence Center , . Wachovia: Some sordid history of a criminal enterprise ̴to big to fail̵ No bank has ben more closely conected with Mexican money laundering than Wachovia. Reporter Betsey Piete of the Workers World , 205: "After initialy denying ties to slavery in January, executives at Wachovia Bank disclosed in a June 2 report that the bank's predecesor institutions — the Bank of Charleston, S.C., and the Georgia Railroad and Banking Company — ̴owned̵ at least 162 enslaved Africans and acepted 529 more as ̴colateral̵ on loans , , June 10, 205 . ̴We are deply sadened by these findings Wachovia apologizes to black Americans, June 2, 205, htp:/w.msnbc.msn.com/id/8076165/ Thompson said the research revealed two ancestral banks — the Bank of Charleston S.C. The bank said incomplete records make it imposible to know how many slaves were owned by either institution, but that specific transactional records show the Georgia bank owned at least 162 slaves and the Bank of Charleston acepted at least 529 slaves as colateral on mortgaged properties or loans. San Francisco-based Wels Fargo, which dates from 1852, bought troubled Wachovia for $12.7 bilion in 209, creating the largest network of bank branches in the U.S. and creating the nation's second-largest bank in terms of deposits. First, Treasury Secretary Henry Paulson quietly isued a document revising the tax code, giving enormous ben�efits to some banks that buy other banks. The very same day the bailout pased, Wels Fargo anounced the surprise turnaround to investors: It would buy Wachovia after al Atkison, S.Folowing the bailout money to Wels Fargo, CBS Evening News: How a Big Bank Tok American Tax Dolars and Went on a Spending Spre February 9, 209. In the thre years leading up to Wachovia's agrement with the Justice Department, grand juries served the bank with requesting information about its suspicious banking practices. The 1970 Bank Secrecy Act requires banks to report al cash transactions above $10,0 to regulators and to tel the government about other suspected money-laundering activity. No big U.S. bank — Wels Fargo included — has ever ben indicted for violating the Bank Secrecy Act or any other federal law. Wachovia's new owner, Wels Fargo, did just that: it paid $160 milion in fines and penalties, les than 2 percent of its $12.3 bilion profit in 209 Banks Financing Mexico Gangs Admited in Wels Fargo Deal, June 29, 2010. Spokeswoman for the corporate banking firm, , expresed that Wels Fargo regrets that some of Wachovia's former anti- money-laundering eforts fel short and noted that Wels Fargo has invested $42 milion in the past thre years to improve its anti-money-laundering program and has ben working with regulators ibid . Drug money saved banks in global crisis, claims UN advisor Drugs money worth bilions of dolars kept the financial system afloat at the height of the global crisis, the ' drugs and crime tsar has told the Observer . He said that a majority of the $352bn £216bn of drugs profits was absorbed into the economic system as a result , Drug money saved banks in global crisis, claims UN, Guardian.co.uk The Observer advisor, n.co.uk/global/209/dec/13/drug-money-banks-saved-un-cfief-claims . Costa, incredibly, refused to identify countries or banks that may have received any drugs money, saying that would be inapropriate because his ofice is suposed to adres the problem, not aportion blame. wachovia bank wachovia bank in Rolling hills estates
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