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by iamsohungry
3877 days ago
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Another interesting example is Stuart Gulliver, CEO of HSBC when they were fined 5 weeks of income for laundering money for Mexican and Columbian drug cartels. HSBC lawyers persuaded prosecutors "not to indict HSBC, the London-based bank, on charges of vast and prolonged money laundering, for fear that criminal prosecution would topple the bank and, in the process, endanger the financial system." Gulliver was not tried for any crime after helping launder money for literal mass-murdering drug lords in a country where people are jailed for possession of marijuana. Given the dynamics of the situation, it's troubling that he was able to do that. [1] http://www.rollingstone.com/politics/news/outrageous-hsbc-se... [2] http://dealbook.nytimes.com/2012/12/10/hsbc-said-to-near-1-9... |
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