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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDrug warrior Jeff Sessions lets a megabank skate on laundering money intoMexico
The government has agreed not to prosecute Citigroups Mexico-based subsidiary despite damning evidence it aided a cross-border money-laundering scheme for years, the Department of Justice announced Tuesday. The non-prosecution agreement is in sharp contrast with the hard line that Attorney General Jeff Sessions has already laid out for blue-collar criminals.
Under the non-prosecution agreement, Citigroup-owned Banamex USA will pay $97.4 million and admit it broke the Bank Secrecy Act for years.
Banamex and Citi officials knew of some 18,000 separate suspicious account activities from 2007 to 2012 yet reported just six to regulators, according to the description of the crimes in the deal. The transactions mostly involved remittance payments from people in the United States to account holders in Mexico a standard class of transaction relied upon heavily by immigrants.
The transactions Citigroup failed to police internally or report to external authorities, however, were not typical worker remittances. Those usually involve small sums and scattered movements of money as one would expect to see when a large group of individual workers are sending some of their pay back home to a large number of families.
https://thinkprogress.org/jeff-sessions-soft-on-banks-tough-on-minor-offenses-7380295efc0
VigilantG
(374 posts)MedusaX
(1,129 posts)Or is that only applicable to people not corporations??
>snip<
"Attorney General Jeff Sessions is directing federal prosecutors to pursue the most serious charges possible against the vast majority of suspects, a reversal of Obama-era policies that is sure to send more people to prison and for much longer terms.
>snip<
https://www.google.com/amp/www.cbsnews.com/amp/news/jeff-sessions-directs-prosecutors-to-pursue-most-serious-charges-against-suspects/
ananda
(28,885 posts).. into the private prison industry.
haele
(12,683 posts)Money from Drug sales - well, it's over $100K each time, so it's all good.
Sure, it's like money laundering between people who "understand" each other is just "good housekeeping".
Haele