March 23, 2013 |
VATICAN CITY - As he begins work, Pope Francis will find a pile of files in his in-tray on sex abuse and squabbling cardinals. But he will also come across a thick dossier on the Vatican's secretive bank, which his predecessor, Pope Benedict XVI, tried to drag into the daylight after years of suspicion that it was a haven for money launderers. After struggling to get the Vatican onto a coveted European "white list" for clean banks, Benedict suffered a setback last year when his top manager, Ettore Gotti Tedeschi, was fired by the bank's board, officially for incompetence.
CALIFORNIA | LOCAL
December 14, 2012 |
SACRAMENTO - State authorities have accused two brothers who served together as Republican legislators of illegally laundering $40,000 in political donations. State Sen. Tom Berryhill (R-Modesto) and former Assemblyman Bill Berryhill (R-Ceres), grape farmers who represented adjacent legislative districts, allegedly funneled the money through two county Republican central committees to skirt contribution limits. An administrative law judge will decide whether the men are guilty of charges drafted by the state Fair Political Practices Commission.
December 13, 2012 |
JERUSALEM - Israel's attorney general said Thursday that he would charge Avigdor Lieberman, the nation's combative foreign minister, with fraud and breach of trust but would drop a more serious money-laundering case that had been looming for years. It remained unclear whether Lieberman, who is seeking reelection Jan. 22 as head of the nationalist Yisrael Beiteinu party, would be forced to resign or whether the indictment would hurt his party's chances in upcoming national elections.
December 11, 2012 |
NEW YORK -- British banking giant HSBC will pay $1.92 billion to settle a wide-ranging investigation by U.S. authorities into money laundering at the bank. In a deferred prosecution agreement, confirmed by the bank Tuesday, HSBC will undergo independent monitoring for five years as it puts in place safeguards to make sure it does not again become a conduit for illicit transactions. Quiz: The year in business HSBC said the agreement, which the U.S. Department of Justice had yet to formally announce early Tuesday, noted the bank had "provided valuable assistance to law enforcement," providing information and employees for interviews.
CALIFORNIA | LOCAL
December 8, 2012 |
A real estate development company that regularly received funds from Los Angeles leaders to build affordable housing projects has agreed to pay $165,000 to end an ethics investigation into allegations of campaign money-laundering. Investigators with the city Ethics Commission concluded Advanced Development and Investment Inc. and its affiliated construction company, Pacific Housing Diversified, made 33 contributions totaling $23,850 under assumed names between 1999 and 2009. Advanced Development executives used cash and checks from company accounts to improperly reimburse employees who had made the contributions, the agency found.
November 5, 2012 |
The U.S. government is likely to file criminal charges related to money-laundering against HSBC Holdings, the international banking giant said in its third-quarter financial report. London-based HSBC, Europe's largest bank, reported Monday that it set aside an additional $800 million to cover its liability in the case, bringing the total so far to $1.5 billion. The potential penalties could be "significantly higher," it said. Banks have fallen under heightened scrutiny amid evidence they have been used to funnel funds to terrorists and process dirty money for drug lords.