Wachovia has agreed to pay US prosecutors 160 million dollars for its failure to stop drug money being laundered to Mexican affiliates, the DEA said Wednesday.
The embattled bank admitted it failed to stop an estimated 110 million dollars from being sent from the US to Mexico by wire transfer that was used to buy cocaine-transporting aircraft.
The Drug Enforcement Administration said Wachovia-run foreign exchange houses in Mexico — or casas de cambio (CDCs) — were involved in the illicit trades between 2004 and 2007.
At least four aircraft bought with the cash were later seized along with large quantities of cocaine, by unnamed foreign governments.
The DEA said the bank had agreed to pay the fine to “resolve charges that it willfully failed to establish an anti-money laundering program.”
“In light of Wachovia’s willingness to acknowledge responsibility for its actions and omissions… the government has agreed to defer prosecution of the criminal charge in the information for 12 months,” the agency said.
Wachovia, which was taken over by Wells Fargo in a crisis-inspired fire sale in 2008, was given five days to pay the fine.
Although Wachovia admitted that 110 million dollars could have been laundered, the DEA said “Wachovia failed to effectively monitor for potential money laundering activity more than 420 billion dollars in financial transactions with the CDCs.”
Fake Village People appear on SNL to tell Trump to stop using their music or they’ll shave Ivanka’s head
The fake Village People made a surprise appearance on "Saturday Night Live" to tell President Donald Trump to stop using their music at his rallies or they'll shave Ivanka Trump's head.
"If you have been watching the Trump rallies, you probably noticed Trump dancing to The Village People," said Colin Jost during the Weekend Update segment. "If you haven't, let's take a look."
He explained that the Village People had their own special message for the president. The group of SNL cast members came out dressed in traditional Village People outfits and sang their cease and desist for the president.
SNL does campaign ad asking what they’ll do without Trump to trash — then they have a revelation
"What is the news even going to be about now?" the Saturday Night Life cast joked, saying that without President Donald Trump.
The fake ad began saying that everyone knows it could be the most important election of our lives.
"And the two choices couldn't be more different," the ad continues. "Do we want four more years of Donald Trump or a fresh start with Joe Biden? Can we survive four more years of scandal, name-calling, and racial division? Or do we want a leader who unites the country? I want to vote for Biden because he's better, smarter. better and better."
But, the cast members confessed, "I'm worried, because if Donald Trump isn't president -- when what are they going to talk about? Like, what would our conversations even be? Because the only thing I talked about for four years is Donald Trump. Every single day I tell someone, 'Can you believe what Trump just said?' My entire personality is hating Donald Trump. If he's gone, what am I supposed to do? Focus on my kids again? No thanks. He changed the game. He called the attorney general he appointed mentally retarded. That's some next-level sh*t!"
Saturday Night Live’s Trump claims his secret COVID-19 plan is ‘under audit just like my taxes’
"Saturday Night Live" began this week's show with a recap of the presidential debate showing President Donald Trump confusing Kirsten Welker with Hoda Kotb, Mindy Lahiri, and at one point, even a waitress.
Alec Baldwin explained that the coronavirus loved him so much that it didn't want to leave his body because it was so beautiful.
He also explained that he couldn't share his coronavirus plan because it was still under audit like his taxes.
Jim Cary toned down his portrayal of Joe Biden from last week's over-the-top yell-fest.
"Learning to live with it? We're learning to die with it, man!" said the fake Biden, quoting the real Biden, but with a glint of Clint Eastwood.