TV News LIES

Saturday, Aug 19th

Last update05:20:13 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...


Reality Check: America and the Foxconn Dream

Foxcom dream in WisconsinWisconsin is about to shell out as much as $3 billion for the privilege of luring...

JPMorgan Whistle-Blowers Set to Reap Record $61 Million Bounty

JP Morgan whitleblowersTwo whistle-blowers are set to share a record $61 million award from the Securities and Exchange...

Fed keeps interest rate unchanged amid low inflation

Janet YellenThe Federal Reserve declined Wednesday to raise its benchmark interest rate amid a low inflation rate...

CBO rejects Trump's claim that budget plan would eliminate deficit

Trump budgetThe Congressional Budget Office cast doubt Thursday on the White House’s claim that President Trump’s proposed...
 
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!