Sunday, Nov 29th

Last update12:59:10 AM GMT

You are here News Economy How a Whistleblower Blew the Lid Off Wachovia-Drug Cartel Money Laundering Scheme

How a Whistleblower Blew the Lid Off Wachovia-Drug Cartel Money Laundering Scheme

E-mail Print PDF

American banks high on drug money launderingMartin Woods, an Englishman in his mid-40s, is blessed with a Sherlock Holmes instinct and demeanor. Woods is an expert at sniffing out "dirty" money passing through International Banking Systems.

A police officer for 18 years and later a detective with London Metro Police Agency, Woods capitalized on his unique expertise as a fraud expert by joining Wachovia's London-based Bank in March 2005 as an anti-money laundering officer.

It wasn't long after taking the job that he discovered that his own employer, one of America's leading banks, was a major player in aiding the "bloodthirsty" Mexico drug cartels to launder billions of dollars in drug money through Wachovia banks. Woods traced and identified a "number of suspicious transactions" related to Mexico-based Casa de Cambios (CDC).

Casa de Cambios are currency-exchange operations set up along the U.S. Mexico-border to assist cross border transfers of money to remit labor paychecks. And on the illegal side the Casa de Cambios are also known as the superhighway for narcotic proceeds into the U.S. and overseas financial markets.

When Woods zeroed in on deposited traveler's checks with sequential numbers sent by the CDC he discovered that large amounts of funds were exceedingly more than a typical person would need. The questionable CDC checks either lacked adequate identifying information or had none at all, including no legible signatures affixed on the funds.


Most Recent Related Stories...

Another big corporation is flagrantly dodging tax. This must be outlawed

Another corporation evades taxesNo invention of modern capitalism so enrages the public as does the tax haven. When giant...

NY's Gov. Andrew Cuomo raising minimum wage for state employees

NY Gov. CuomoNew York Gov. Andrew Cuomo on Tuesday announced plans to give all state workers a minimum...

Inside the Money Laundering Scheme That Citi Overlooked for Years

Citi money laundering schemeWhen Antonio Peña Arguelles opened an account in 2005 at Citigroup’s Banamex USA, the know-your-customer documents...

Top 100 US CEOs sitting on retirement nest egg of nearly $5bn

CE0 retirement in the billionsForget retirement worries: once a fat cat, always a fat cat. The top 100 chief executive...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!