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Inside story: money laundering ring using HSBC Bank led to near $2 billion settlement.

Money laundering colombian ring used HSBC. In January 2010 several Colombian men were indicted in the U.S. on money-laundering charges.

Initially, it looked like a bust of another nexus of drug traffickers and moneylaunderers. But to U.S. authorities the case was anything but ordinary. Prosecutors alleged, one of the alleged criminals helped run a money-laundering ring using UK-based international banking group HSBC Holdings Plc.   The case against HSBC eventually led to a $1.9 billion settlement on December 11.

One of the men was a colombian businessman, Julio Chaparro, a 48-year-old father. Chaparro was… READ THE STORY HERE