I blogged in July 2012 on how HSBC laundered Colombian Drug money and later how it is being used by the tainted politicians to salt away their ill-gotten gains.
‘When I read Frederick Forsyth,’s Book ‘The Cobra‘ the money laundering operations were so vivid,as in the case of acquiring a False Passport in ‘The Day of The Jackal‘, I. suspectedHSBC.
Please read the book , you will know what I mean.
All International banks which appear to be perfectly legitimate regularly indulge in these activities.
Despite sound bites nothing may come of this investigation
.http://ramanisblog.in/2012/07/13/hsbc-launders-colombian-drug-money/
–HSBC Geneva is involved money laundering operations in India.
-Government of India has the list.
In July 2011, Indian Government received a list of roughly 700 people having bank accounts in HSBC, Geneva. The list contains bank balances of these people in 2006,” Kejriwal said.
Some names from the list.
Mukesh Dhirubhai Ambai – Rs 100 crores
Anil Dhirubhai Ambani – Rs 100 crores
Motech Software Private Ltd (Reliance Group company) – Rs 2,100 crores
Reliance Industries Ltd – Rs 500 crores
Sandeep Tandon – Rs 125 crores
Anu Tandon – Rs 125 crores
Kokila Dhirubhai Ambani – She has an account but there was no balance on that date
Naresh Kumar Goyal – Rs 80 crores
Burmans (3 family members) – Rs 25 crores
Yashovardhan Birla – no balance.(ramanan50.wordpress.)
(Reuters) – HSBC Holdings Plc agreed to pay a record $1.92 billion in fines to U.S. authorities for allowing itself to be used to launder a river of drug money flowing out of Mexico and other banking lapses.
Mexico’s Sinaloa cartel and Colombia’s Norte del Valle cartel between them laundered $881 million through HSBC and a Mexican unit, the U.S. Justice Department said on Tuesday.(Reuters)
How is it that HSBC has escaped with out a single Executive being arrested?
In India there is not even a whimper on the allegation of its money laundering?
Story:
The New Wave of Bank Scandals: Money Laundering, Drug Cartels and Li
“The banking giant HSBC has escaped indictment for laundering billions of dollars for Mexican drug cartels and groups linked to al-Qaeda. Despite evidence of wrongdoing, the U.S. Department of Justice has allowed the bank to avoid prosecution and pay a $1.9 billion fine. No top HSBC officials will face charges, either. We’re joined by Rolling Stone contributing editor Matt Taibbi, author of “Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History.” “You can do real time in jail in America for all kinds of ridiculous offenses,” Taibbi says. “Here we have a bank that laundered $800 million of drug money, and they can’t find a way to put anybody in jail for that. That sends an incredible message, not just to the financial sector but to everybody. It’s an obvious, clear double standard, where one set of people gets to break the rules as much as they want and another set of people can’t break any rules at all without going to jail.” [includes rush transcript]
http://www.democracynow.org/2012/12/13/matt_taibbi_after_laundering_800_million
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