TV News LIES

Friday, May 22nd

Last update02:04:47 AM GMT

You are here News Economy HSBC wins approval of record $1.92 billion money-laundering settlement

HSBC wins approval of record $1.92 billion money-laundering settlement

E-mail Print PDF

HSBCA federal judge has approved HSBC Holdings Plc's (HSBA.L)(HBC.N) record $1.92 billion settlement with federal and state investigators of charges that it flouted rules designed to stop money laundering and thwart transactions with countries under U.S. sanctions.

While noting "heavy public criticism" of the settlement, which enabled HSBC to escape criminal prosecution, U.S. District Judge John Gleeson in Brooklyn, New York, called the decision to approve the accord "easy, for it accomplishes a great deal."

Gleeson ruled on Monday after more than six months of review, rejecting arguments by the U.S. government and HSBC that federal judges lacked "inherent authority" over the approval or implementation of so-called "deferred prosecution agreements."

The settlement, announced December 11, 2012, included a $1.256 billion forfeiture and $665 million in civil fines.

More...


Most Recent Related Stories...


Sharp announces $1.86 billion loss, plans thousands of job cuts

Sharp electronicsJapanese electronics giant Sharp on Thursday said it was cutting thousands of jobs in a fresh...

I am a cook in the US Senate but I still need food stamps to feed my children

Bertrand OlotaraBertrand Olotara has two college degrees, works two jobs and is on public assistance.The 44-year-old divorced...

12 percent jump in homelessness in LA County

LA homelessThe number of homeless people in Los Angeles County jumped 12 percent in the past two...

Deutsche Bank to plead guilty to wire fraud, pay $2.5B in fines

Deutsche BankDeutsche Bank will pay U.S. and British authorities $2.5 billion and its London subsidiary will plead...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!