21st Century Wire says…
This story should raise some important questions about organised crime’s influence on our judicial and economic systems – in times of crisis.
A recent money laundering investigation by a British Newspaper, The Independent (see story below), reveals a complex accounting and legal shell game of British-based front companies, laundering their illicit proceeds through phony lawsuits, followed by massive wire transfers to Latvian and other banks. Money transfers are effectively rubber stamped by corrupt Moldovan judges.
Are these white collar crimes exclusive eastern European gangsters, or do well-known British financial brands also do the same?
FOLLOW THE BALL: Dirty white collar criminals have devised a new complex system to move their funds.
This scam uncovered is said to have lasted four years already, and British and European law enforcement investigators claim that it’s been shut down since May 2014, following a clampdown on the judicial component of the fraud chain – in the former Soviet republic of Moldova.
Yes, this is a scandal of sorts, but how big is it really? Investigators claim over 20 billion has been laundered in this way, but as we will show you – it’s only a drop in the global crime bucket.
What’s more interesting, however, is where the money finally ends up – in the major banks:
‘The UK bank accounts involved include ones at UBS in London, HSBC, RBS, NatWest and Citibank. The Independent is passing details of the transactions to the banks.’
Let’s just put this into perspective in relation to some of the world’s largest and ‘most respected banks’ who all seem to be engaged in the macro-money laundering of arms, narcotics, and human trafficking. Take for example, HSBC, a major clearing house for dirty money worldwide.
This post was published at 21st Century Wire on OCTOBER 21, 2014.
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