Monthly Archives: December 2012

HSBC will pay $1.9 billion for money laundering

By Kevin McCoy British banking giant HSBC agreed to pay a record $1.92 billion settlement Tuesday after a broad investigation by U.S. federal and state authorities found the bank violated federal laws by laundering money from Mexican drug trafficking and processing banned transactions on behalf of Iran, Libya, Sudan and Burma. The settlement, a combination […]

Judge approves Stanford class action lawsuit

By BILL LODGE A civil suit by 86 defrauded investors was certified by a Baton Rouge judge Wednesday as a class action against Louisiana’s regulator of financial institutions and a Pennsylvania company that compiled customer financial statements on behalf of convicted swindler Robert Allen Stanford. The ruling by state District Judge R. Michael Caldwell could […]