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Banks Financing Mexico Gangs Admitted in Wells Fargo Deal
06-30-2010, 06:33 PM,
#1
Banks Financing Mexico Gangs Admitted in Wells Fargo Deal
What a freaking joke. Bankers are a huge mob of mafia cartels involved with financing Corporate America manifest destiny of destruction and chaos. And it not be drug traffickers these Mafia banks were financing, but CIA operatives who are training the Zetas and financing them with arms and ammunition. 7 CIA operatives have been discovered to be in Mexico with training Law enforcement and others with playing the same card with the Zetas, divide and conquer and proxy manipulation of genocide. Besides, how else are banks, CIA and the New world order will finance its war on the global people if not through drugs trafficking and money laundering. These banks knew, the CIA knows, and higher beasts know how all this chess game is being setup and played. time to wake up. If they are doing in in other parts of the world, why not in Mexico too???

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Banks Financing Mexico Drug Traffickers Admitted in Wells Fargo Deal --Wachovia had made a habit of helping move money for Mexican drug smugglers. 29 Jun 2010 Just before sunset on April 10, 2006, a DC-9 jet landed at the international airport in the port city of Ciudad del Carmen, 500 miles east of Mexico City. As soldiers on the ground approached the plane, the crew tried to shoo them away, saying there was a dangerous oil leak. So the troops grew suspicious and searched the jet. They found 128 black suitcases, packed with 5.7 tons of cocaine, valued at $100 million. The stash was supposed to have been delivered from Caracas to drug traffickers in Toluca, near Mexico City, Mexican prosecutors later found. The smugglers had bought the DC-9 with laundered funds they transferred through two of the biggest banks in the U.S.: Wachovia Corp. and Bank of America Corp., Bloomberg Markets magazine reports in its August 2010 issue.

http://www.bloomberg.com/news/2010-06-29/banks-financing-mexico-s-drug-cartels-admitted-in-wells-fargo-s-u-s-deal.html
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07-02-2010, 11:57 PM,
#2
RE: Banks Financing Mexico Gangs Admitted in Wells Fargo Deal
Here's a minor follow-up to the June 29th Bloomberg article.

Quote:Report: US banks laundering money for Mexican drug war
By Raw Story
Friday, July 2nd, 2010 -- 5:00 pm

Wachovia admits at least $110 million laundered through its branches

US banks are playing a crucial role in the running of the Mexican drug trade, allowing their facilities to be used to launder money in a drug war that has taken the lives of more than 22,000 people in the past four years, a new investigative report reveals.

According to a report from the August, 2010, issue of Bloomberg Markets magazine, both Bank of America and Wachovia are implicated in drug-money laundering schemes to purchase jets to smuggle drugs.

The report, by Michael Smith, chronicles the seizure of a DC-9 jet at a Mexican airport in 2006 when it was discovered that it contained $100 million-worth of cocaine. Investigators found that drug smugglers had bought the plane with money laundered through BofA and through Wachovia, which was bought out by Wells Fargo in 2008.

Smith reports:

This was no isolated incident. Wachovia, it turns out, had made a habit of helping move money for Mexican drug smugglers. Wells Fargo & Co., which bought Wachovia in 2008, has admitted in court that its unit failed to monitor and report suspected money laundering by narcotics traffickers -- including the cash used to buy four planes that shipped a total of 22 tons of cocaine.

Bloomberg obtained a copy of an agreement (PDF) between prosecutors and Wachovia, signed in March, in which the bank admitted it had not done enough to watch for money-laundering schemes among some $378 billion it transferred between its branches and Mexican currency-exchange houses from 2004 to 2007.

"The investigation has identified at least $110 million in drug proceeds that were funneled through the [currency-exchange] accounts held at Wachovia," the agreement states.

“Wachovia’s blatant disregard for our banking laws gave international cocaine cartels a virtual carte blanche to finance their operations,” Bloomberg quotes federal prosecutor Jeffrey Sloman.

Wachovia agreed to pay $160 million to settle the court case in exchange for charges being dropped, a move Sloman described as "historic."

Bloomberg also reports that a former Wachovia executive in charge of anti-money laundering operations "quit the bank in disgust" after managers ignored his reports that drug money was being laundered through its facilities.

“If you don’t see the correlation between the money laundering by banks and the 22,000 people killed in Mexico, you’re missing the point,” Woods said.

Bank of America and UK-based HSBC have been connected to money laundering schemes, according to the Bloomberg report.

Drug traffickers used accounts at Bank of America in Oklahoma City to buy three planes that carried 10 tons of cocaine, according to Mexican court filings.

Federal agents caught people who work for Mexican cartels depositing illicit funds in Bank of America accounts in Atlanta, Chicago and Brownsville, Texas, from 2002 to 2009. Mexican drug dealers used shell companies to open accounts at London-based HSBC Holdings Plc, Europe’s biggest bank by assets, an investigation by the Mexican Finance Ministry found.

Drug-related violence has been spiraling out of control along the US-Mexican border in recent years. Ciudad Juarez, across the river from El Paso, Texas, has recorded 700 murders so far this year. Earlier this week, a "clash" between rival drug gangs left 21 people dead.

The violence has even begun to permeate Mexican politics, with three drug-related assassinations against government officials in just the past two weeks. A mayor and city councilor were killed Wednesday evening. Hours later, a deputy attorney general in Cihuahua state was killed. The recent disappearance of a former presidential candidate has drawn speculation linking the incident to the drug wars.
http://digg.com/politics/Report_US_banks_laundering_money_for_Mexican_drug_war
http://rawstory.com/rs/2010/0702/banks-laundering-money-mexican-drug-war/

Related:

Failed State – Photo of Kidnapped Mexican Politician Surfaces on the Web
http://concen.org/forum/showthread.php?tid=33024

U.S. Military has Special Ops "Boots on the Ground" in Mexico
http://concen.org/forum/showthread.php?tid=33421

Is President Felipe Calderon protecting the CIA Drug Cartels?
http://concen.org/forum/showthread.php?tid=33703
There are no others, there is only us.
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