The Great Deception -> Wachovia Investigated For Laundering Drug Money

Wachovia Investigated For Laundering Drug Money, Pay $160 million; Laundered Trillions!

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jofortruth

Posted: Mar 25 2010, 03:12 PM

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WACHOVIA ENTERS INTO DEFERRED PROSECUTION AGREEMENT - March 17, 2010: (Just reading the 1st two pgs of this, I'm disgusted.)
http://www.justice.gov/usao/fls/PressReleases/100317-02.html

QUOTE

In light of Wachovia�s willingness to acknowledge responsibility for its actions and omissions, its cooperation and remedial actions to date, and its promised continued cooperation and remedial actions in the future, the government has agreed to defer prosecution of the criminal charge in the information for 12 months. If Wachovia fully complies with its obligations under the Agreement, the U.S. agrees to dismiss the criminal information at the end of the 12 months. Earlier today, the Agreement was accepted in federal court in Miami by U.S. District Judge Joan A. Lenard.

The Agreement:
http://www.justice.gov/usao/fls/PressRelea...2.Agreement.pdf

Statement:
http://www.justice.gov/usao/fls/PressRelea...2.Statement.pdf

Information:
http://www.justice.gov/usao/fls/PressRelea...Information.pdf

On pg 5 of "Statement" doc above it says:

QUOTE

"For the time period of May 1, 2004 through May 31, 2007, Wachovia processed at least $373,630,892,102 (that's Billions, folks!) in wire activity on behalf of the Mexican CDCs (drug cartel exchange accounts). During the same period they processed at least $4,728,626,300 in bulk cash for the CDCs. In addition, for the same period, Wachovia processed approx $47,000,000,000 in RDC deposits."

ADD ALL OF THAT UP AND SEE WHAT YOU GET! We are talking serious money; in the TRILLIONS OF DOLLARS IN DRUG MONEY! THIS WAS COCAINE MONEY FOLKS BEING LAUNDERED THROUGH WACHOVIA. (YOU CAN BE SURE THAT THIS ISN'T THE ONLY BANK WHERE THIS IS HAPPENING!)

WELL FARGO NOW OWNS WACHOVIA. THE MERGER HAPPENED DURING THE BAILOUTS!

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REMEMBER: Catherine Austin Fitts told us long ago that these NARCO DOLLARS were laundered in many organizations. She discovered it in HUD, and within many organizations. She was a whistleblower:
http://z4.invisionfree.com/The_Great_Decep...?showtopic=2444
http://z4.invisionfree.com/The_Great_Decep...topic=7360&st=0

jofortruth

Posted: Mar 25 2010, 03:18 PM

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Commentary taken from a Financial Newsletter I get:

QUOTE

Banking giant Wachovia Corp. will pay $160 million to settle a federal investigation into laundering of illegal drug profits through Mexican exchange houses in the largest case of its kind ever brought against a U.S. bank, prosecutors said Wednesday.

"This is historic," acting U.S. Attorney Jeffrey Sloman said. "There is no other case like this one anywhere."

The probe, which began in 2005 when a Drug Enforcement Administration narcotics dog in Florida detected cocaine traces in an airplane, ultimately uncovered at least $110 million in drug profits laundered from Mexico through Wachovia. The total settlement includes forfeiture in that amount plus a $50 million fine.

"DEA will follow drug money wherever it leads us," said Mark R. Trouville, chief of the DEA's Miami office.

The agreement means Wachovia and its executives will avoid criminal prosecution in return for the $160 million payment and significant improvements in its anti-money laundering program. If those and other conditions are met within one year, potential criminal charges for failure to maintain a system to detect money launderers will be dropped.

[As you can see Illuminists never go to jail and the shareholders pay the fines and they go right back to doing it the next day.]

jofortruth

Posted: Mar 25 2010, 03:21 PM

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Wachovia settles Mexican drug money laundering case for $160 million
http://www.oregonlive.com/business/index.s...xican_drug.html
http://www.examiner.com/a-2531995~Wachovia..._for__160M.html

QUOTE

By The Associated Press
March 17, 2010, 7:44PM

MIAMI -- Banking giant Wachovia Corp. will pay $160 million to settle a federal investigation into laundering of illegal drug profits through Mexican exchange houses in the largest case of its kind ever brought against a U.S. bank, prosecutors said Wednesday.

"This is historic," acting U.S. Attorney Jeffrey Sloman said. "There is no other case like this one anywhere."

The probe, which began in 2005 when a Drug Enforcement Administration narcotics dog in Florida detected cocaine traces in an airplane, ultimately uncovered at least $110 million in drug profits laundered from Mexico through Wachovia. The total settlement includes forfeiture in that amount plus a $50 million fine.

"DEA will follow drug money wherever it leads us," said Mark R. Trouville, chief of the DEA's Miami office.

The agreement means Wachovia and its executives will avoid criminal prosecution in return for the $160 million payment and significant improvements in its anti-money laundering program. If those and other conditions are met within one year, potential criminal charges for failure to maintain a system to detect money launderers will be dropped.

Wachovia, now a unit of San Francisco-based Wells Fargo & Co., said in a statement that Wells Fargo had already set aside money to pay the settlement. The statement said Wachovia, based in Charlotte, ended its relationships with foreign currency exchange houses in 2008.

"Wachovia Bank has fully cooperated with the federal government throughout the course of its investigation," the statement said.

The $160 million fine and forfeiture represents the biggest penalty ever imposed under the Bank Secrecy Act, which requires financial institutions to keep close tabs on suspicious transactions that could indicate money is being laundered from criminal enterprises. According to prosecutors, Wachovia's program was woefully inadequate and bank executives knew it, meaning that numerous red flags were missed over a three-year period.

In fact, officials said Wachovia had no way of checking some $420 billion in transactions from Mexican exchange houses for possible money-laundering activity. That means investigators didn't get potentially key information on drug cartels, terrorist financing networks and other organized crime enterprises.

"The integrity of our financial system is at stake," said Charles Steele, deputy director of the Treasury Department's Financial Crimes Enforcement Network. "It poses a very serious problem, a very serious threat for law enforcement."

Beginning with that DEA drug-sniffing dog in June 2005, investigators began tracing the source of money for airplanes being used to ferry cocaine in Colombia and Mexico that was ultimately destined for the U.S. Those initial money transfers were overseen by a Wachovia office in Miami.

Ultimately at least $13 million from the Mexican exchanges went through Wachovia for the purchase of aircraft, according to court documents. Four of them were seized by investigators, along with more than 22 tons of cocaine.

From there, investigators from the DEA, Internal Revenue Service and other agencies tracked billions of dollars in wire transfers, bulk cash shipments and other transactions from the Mexican exchanges through Wachovia. Many were considered suspicious, including such tactics as multiple round-number wire transfers on the same day for a single account; deposits of traveler's checks with sequential numbers that contain unusual markings; and bulk cash transfers up to 50 percent larger than a customer had led Wachovia to expect.

Under the agreement, Wells Fargo cannot use taxpayer money provided under the federal financial bailout program -- known as TARP -- to pay its fine and forfeiture amounts. A Wachovia spokewoman said Wells Fargo fully repaid its TARP money to the government in late 2009, before the money-laundering settlement was finalized.
�
--Curt Anderson, The Associated Press

jofortruth

Posted: Mar 25 2010, 03:48 PM

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Wells CEO: Wachovia Integration 'Is on Plan'
http://online.wsj.com/article/SB125304082083513011.html

QUOTE

BY MARSHALL ECKBLAD AND MATTHIAS RIEKER

Wells Fargo & Co. Chief Executive John Stumpf said that losses from the bank's Wachovia Corp. acquisition are "still in the same ZIP Code" as the San Francisco bank's original projections.

In an interview with The Wall Street Journal, Mr. Stumpf also said availability of the 30-year mortgages favored by Americans depends almost entirely on the U.S. government's purchase of such loans from lenders. "If it's not a government program, it's basically not getting done," he said.

Wells Fargo is the third-largest U.S. bank in stock-market value, behind J.P. Morgan Chase & Co. and Bank of America Corp., and its ...

JUST MORE CONSOLIDATION OF THE BIG BANKS. WE NOW HAVE A TRUE MONOPOLY AS THE BIG BOYZ EAT EACH OTHER AFTER USING THEM FOR LAUNDERING THEIR DRUG MONIES. WACHOVIA ISN'T THE ONLY ONE LAUNDERING DRUG MONEY! THE WORD HAS IT, ALL OF THESE BIG BOYZ DO IT! IT'S THEIR BUSINESS, OR RACKET!

jofortruth

Posted: Mar 25 2010, 03:58 PM

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This story is rather ironic:
http://miami.fbi.gov/dojpressrel/pressrel09/mm112009.htm

QUOTE

Greenacres Police Department, announce that defendant Christopher M. Walters, 31, of Palm Springs, Florida, has been charged with robbery of a Wachovia Bank in Palm Springs, FL, in violation of Title 18, United States Code, Section 2113. If convicted, he faces 20 years in prison.

I WONDER IF THE CEO OF WACHOVIA GOT 20 YEARS IN PRISON? NO, INSTEAD HE JUST GETS FIRED AND GETS A BONUS! HUM!

Before getting fired, Wachovia CEO Thompson got gobs of money
http://www.bloggingstocks.com/2008/06/02/b...-gobs-of-money/

jofortruth	Posted: Mar 25 2010, 04:04 PM
Administrator Group: Admin Posts: 31,418 Member No.: 1 Joined: 1-May 07	104cv20834 doc #789-1 - Wachovia Bank, et al. v. Tien, et al. http://www.flsd.uscourts.gov/default.asp?f...s/pressDocs.asp http://www.flsd.uscourts.gov/viewer/viewer...20834_789_1.pdf 104cv20834 doc #789-2 - Wachovia Bank, et al. v. Tien, et al. http://www.flsd.uscourts.gov/viewer/viewer...20834_789_2.pdf NOTE: These cases talk about mysterious accounts in banks in the Caribbean which goes hand in hand with money laundering for drugs!

jofortruth

Posted: Mar 25 2010, 04:16 PM

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Look at what else Wachovia was doing back in 2008!
http://clarkhoward.com/liveweb/shownotes/2008/02/21/13252/
http://clarkhoward.com/liveweb/shownotes/2008/04/29/13498/

QUOTE

Feb 21, 2008 -- Wachovia allowing illegal drafts from checking accounts

RIP-OFF ALERT: A well-respected bank with a huge national presence has been involved in a criminal enterprise. There were little inklings of this last year, but now The New York Times has released internal Wachovia memos that show the company aided and abetted criminal rings in stealing from people's checking accounts. In the interest of full disclosure, Clark wants you to know that he owns stock in Wachovia. It's one of the few non-index or mutual fund choices he has in his portfolio. As a stockholder, he's embarrassed and outraged by this news. Worse still is the fact that federal banking regulators are sleeping on the job -- they first discovered this scam 3 years ago.

Criminals know how easy it is to present a draft against an account and steal the money. The banking industry has no security against such drafts. So criminal rings were drafting people's accounts and hoping the customers wouldn't notice. There are systems in place where if too many disputes arise, it triggers a probationary hold or the loss of drafting privileges. But Wachovia kept allowing the drafts even after the alarms went off. Internal memos show employees knew they were dealing with criminal activity in 500,000 cases -- but the fee income was too large for them to care.

Wachovia has issued a statement saying they've now resolved the issue. It's great if that's true. But this scam has been going on at 9 banks and Wachovia was the only one named. Consumers Union has already detailed the cozy relationship between bank regulators and banks; regulators see themselves as protecting the banks! So here's what you need to do: Check your bank and credit card statements every month, line by line. If there's a charge you don't recognize, question it.

jofortruth	Posted: Mar 26 2010, 01:45 PM
Administrator Group: Admin Posts: 31,418 Member No.: 1 Joined: 1-May 07	NATO rejects Russian call for Afghan poppy spraying http://www.infowars.com/nato-rejects-russi...poppy-spraying/ ANOTHER CONNECTED STORY THAT SHOWS HOW THEY NEED THEIR POPPIES TO MAKE THEIR COCAINE THAT THEY SMUGGLE INTO EVERY COUNTRY IN THE WORLD. PROFITS IS ALL THESE SICKOS CARE ABOUT! THE DRUG WAR IS NOT A WAR ON DRUGS, IT'S A WAY TO KEEP THE DRUGS MOVING SO THEY CAN PROFIT FROM THEM, AND DESTROY THE SUCKERS WHO USE THEM! PEOPLE, YOU ARE INSANE IF YOU PROP UP THIS ELITE RACKET BY BUYING THEIR DRUGS! YOU ARE BEING USED! GET OFF OF THEM!

jofortruth	Posted: Jul 15 2010, 06:38 PM
Administrator Group: Admin Posts: 31,418 Member No.: 1 Joined: 1-May 07	Wall Street Is Laundering Drug Money And Getting Away With It http://www.infowars.com/wall-street-is-lau...g-away-with-it/ http://www.bloomberg.com/news/2010-06-29/b...s-u-s-deal.html http://blogs.alternet.org/speakeasy/2010/0...g-away-with-it/ http://www.prisonplanet.com/banks-financin...fargo-deal.html

jofortruth	Posted: Apr 4 2011, 01:31 PM
Administrator Group: Admin Posts: 31,418 Member No.: 1 Joined: 1-May 07	How a big US bank laundered billions from Mexico's murderous drug gangs http://www.guardian.co.uk/world/2011/apr/0...xico-drug-gangs http://www.infowars.com/wachovia-laundered...exican-cartels/

jofortruth	Posted: Apr 18 2011, 02:35 PM
Administrator Group: Admin Posts: 31,418 Member No.: 1 Joined: 1-May 07	Bankers, Wall Street and Drug Cartel Connections: http://www.infowars.com/congressman-calls-...-as-terrorists/

jofortruth	Posted: Jul 10 2011, 11:07 AM
Administrator Group: Admin Posts: 31,418 Member No.: 1 Joined: 1-May 07	Banks Financing Mexico Gangs Admitted in Wells Fargo Deal (Remember: Wells Fargo bought Wachovia) http://www.bloomberg.com/news/2010-06-29/b...s-u-s-deal.html

jofortruth	Posted: Aug 5 2011, 01:40 PM
Administrator Group: Admin Posts: 31,418 Member No.: 1 Joined: 1-May 07	Wachovia settles class action suit for $627M http://www.marketwatch.com/story/wachovia-...627m-2011-08-05

jofortruth	Posted: Jun 5 2012, 01:35 PM
Administrator Group: Admin Posts: 31,418 Member No.: 1 Joined: 1-May 07	Western Banks Reaping Billions from Colombia Cocaine Trade (And Wachovia isn't alone, folks! The drug war is a fraud and only protects the govt thugs and their assets who run the drugs many times using military airplanes! DISGUSTING! THE SAME IS COMING OUT OF AFGHANISTAN. WANT TO KNOW WHY THEY EXTENDED THE WAR? ABOUT DRUGS AND MONEY! THE BIG BANKS, SOME IN CONGRESS, YOU NAME IT ARE COMPLICIT SOBs!) http://www.infowars.com/western-banks-reap...-cocaine-trade/ Much more on the DRUG WAR CON: (It's about protecting the drugs and those who profit from them, not stopping drugs in the streets. These bastards hide behind legislation they put in place to defraud the people while making huge profits!) http://z4.invisionfree.com/The_Great_Decep...?showtopic=7140

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