Quantcast
Connect with us

These global banks defy sanctions and send trillions to terrorists and criminals — and the Justice Department lets them

Published

on

William Barr (Screen Shot)

The International Consortium of Investigative Journalists revealed in a shocking expose that international banks are skirting U.S. sanctions and allowing trillions of dollars to flow to terrorists, criminals and oligarchs.

In a Sunday report, the ICIJ called out JPMorgan Chase, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon for refusing to comply with American sanctions, U.S. government documents reveal.

ADVERTISEMENT

Other banks have even defied money laundering crackdowns, the report said and allowed “staggering sums of illicit cash” to flow from shady characters and criminal networks.

Unfortunately, they’re being allowed to do it because the government agencies that are tasked with enforcing money-laundering laws don’t go after big banks. So, the banks are allowed to freely break the law, international or U.S., and make money while doing so.

“In some cases, the banks kept moving illicit funds even after U.S. officials warned them they’d face criminal prosecutions if they didn’t stop doing business with mobsters, fraudsters or corrupt regimes,” the report also said.

JP Morgan Chase is the largest offender after Trump’s bank of choice, Deutsche Bank, the report revealed.

“The bank moved more than $1 billion for the fugitive financier behind Malaysia’s 1MDB scandal, the records show, and more than $2 million for a young energy mogul’s company that has been accused of cheating Venezuela’s government and helping cause electrical blackouts that crippled large parts of the country,” documents show.

ADVERTISEMENT

They’re also the same bank that allowed Paul Manafort to pass $50 million in payments over a decade.

“By utterly failing to prevent large-scale corrupt transactions, financial institutions have abandoned their roles as front-line defenses against money laundering,” ex-Justice Department prosecutor Paul Pelletier said. He spent years prosecuting financial crimes.

Banks know that “they operate in a system that is largely toothless,” he added.

ADVERTISEMENT

Deutsche Bank is responsible for at least $1.3 trillion in suspicious activity, JPMorgan has over $514 billion, Standard Chartered dealt over $166 billion, Bank of New York Mellon passed over $64 billion in sketchy cash, and Barclays was just under $22 billion.

Read the extensive investigative report at the International Consortium of Investigative Journalists.

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

‘Signs of a coming conflict are everywhere’: Why a 2nd Civil War would be quite different from the 1st

Published

on

In 2020, the United States has been rocked by everything from a deadly pandemic and a brutal recession to civil unrest in a long list of cities to fears that violent conflicts will occur either on Election Day or after the election. Journalist Matthew Gault, in an article published by Vice this week, wonders if the political divisions in the United States run so deep that the country is headed for another civil war.

Describing the unrest that has occurred this year, Gault writes, "People are marching in the streets, aligned with two ideologically distinct factions. Many of them, overwhelmingly from one side, are armed, and violence and death has resulted when these two sides have clashed. The signs of a coming conflict are everywhere."

Continue Reading

2020 Election

A fake ‘intelligence staffer’ crafted the groundwork for the Trump conspiracy theories about Hunter Biden

Published

on

It's unclear why President Donald Trump and his allies have chosen to attack Vice President Joe Biden's last living son as a key tenant to the 2020 reelection instead of focusing on his opponent himself. But according to a well-researched NBC News report by Ben Collins and Brandy Zadrozny, the "documents," actually came from a fake person that never existed using a profile photo created by an artificial intelligence face generator.

Months ago, there was a fake "intelligence" document about Hunter Biden that popped up online along with tons of "files" from a supposed laptop. None of it was real and it has all been dismissed by Trump's own associates as fake. But now it's being revealed that the company behind the effort was a fake "intelligence firm" called Typhoon Investigations, researchers and public documents revealed.

Continue Reading
 

Breaking Banner

BUSTED: Commerce Secretary was on board of Chinese joint venture — while running Trump’s trade war

Published

on

On Thursday, Foreign Policy reported that Commerce Secretary Wilbur Ross remained on the board of a Chinese joint venture — even while he was tasked with overseeing President Donald Trump's trade war.

"In Chinese corporate documents obtained by Foreign Policy, Ross is listed as serving on the board of a Chinese joint venture until January 2019 — nearly two years into his term as commerce secretary," reported Isaac Stone Fish. "That joint venture, now called Huaneng Invesco WLR (Beijing) Investment Fund Management Co., is an investment partnership formed in September 2008 between Huaneng Capital Services, the U.S. management company Invesco, and a firm Ross founded, WL Ross & Co. Huaneng Capital Services is an arm of China Huaneng Group, a major state-owned power producer."

Continue Reading
 
 
Democracy is in peril. Invest in progressive news. Join Raw Story Investigates for $1. Go ad-free. LEARN MORE