Report: Holder Blocked HSBC Trial On Drug Cartel Money Laundering Scandal

July 13, 2016 in News by Slad

 

Source: The Daily Caller | By KATHRYN WATSON

Former Attorney General Eric Holder overruled Department of Justice (DOJ) lawyers who said British banking giant HSBC should be prosecuted for missing hundreds of millions of dollars in money laundering by drug cartels, a congressional committee report said Monday.

The report also stated the overruled DOJ lawyers recommended that charges be filed against HSBC Bank for allowing financial transactions with Cuba, Iran, Libya, Sudan and Burma, countries then-under U.S. sanctions

Then-Attorney General Eric Holder and his senior staff allowed HSBC to settle over the bank’s money laundering oversight failures rather than face criminal charges. They then “misled” Congress as to why the DOJ failed to prosecute HSBC, according to the majority staff of the House Committee on Financial Services.

The report was titled “Too Big To Jail: Inside the Obama Justice Department’s Decision Not to Hold Wall Street Accountable.”