Banks Financing Mexico Gangs Admitted in Wells Fargo Deal | WHAT REALLY HAPPENED

Banks Financing Mexico Gangs Admitted in Wells Fargo Deal

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.

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.

Webmaster's Commentary: 

UNFLIPPING BELIEVABLE!!!

And this admission came about only because they got caught.

One has to wonder how many of these kinds of deals are still in play with large financial institutions.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA