HSBC Could Be Prosecuted After Judge Threatens to Scrap Money Laundering Deal Ilaria Bertini - Blue & Green Tomorrow
go to original May 24, 2013

Matt Taibbi (12/2012): After laundering $800 million in drug money, how did HSBC exec's avoid jail time? (DemocracyNow.org)

A judge is considering rejecting a deal that would open HSBC up to criminal prosecution in court, prison for executives, massive fines and no freedom to operate in the US.

The bank was fined $1.8 billion in December over claims that it was laundering money for terrorists and drug lords in Mexico, and entered into a deferred prosecution agreement (DPA) in order to avoid prosecution.

However, the judge presiding over the case has threatened to throw out the deal, which would force the bank to face criminal charges similar to those faced by BP in relation to the Deepwater Horizon disaster.

Campaign groups had said the US justice department’s fine would not work, and that top executives needed to be imprisoned instead.

Read the rest at Blue & Green Tomorrow

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