Respectfully submitted by Lawrence E. Rafferty, (rafflaw) Weekend Contributor
British banking giant, HSBC reached an agreement in 2012 with the Department of Justice that kept it from being hauled in to court on criminal charges due to its systemic assistance in laundering money for drug cartels and allegedly terrorists. HSBC, with its Hong Kong headquarters shown above, is now in trouble again for alleged problems prior to the settlement agreement in 2012.
“The US Department of Justice is considering bringing criminal charges against HSBC and its executives as part of its investigation into whether the bank’s Swiss subsidiary helped US clients evade taxes.
Democratic senator Elizabeth Warren called on prosecutors to “come down hard” on HSBC if the bank is found to have colluded with tax evaders on Tuesday.
Her intervention came as US government officials with knowledge of the DoJ’s investigation provided the Guardian with new details about the inquiry.
Renewed focus has been placed on the long-running investigation into HSBC Switzerland by the department, after a huge leak of secret bank data – passed to the DOJ’s tax division almost five years ago – was obtained by the Guardian and other media.
It shows that HSBC Switzerland helped some clients conceal millions of undeclared assets, and has immediately raised questions on Capitol Hill about the response from prosecutors and tax authorities. US government officials said the investigation is not merely looking at HSBC’s US clients, and could also result in criminal indictments against the bank itself. “That has not been ruled out,” one official said, when asked if HSBC or its executives could be criminally indicted. “It is certainly something that is under consideration.” ‘ Reader Supported News Continue reading “Will HSBC Be Too Big To Jail…Again?” →
We have been following the expanding scandal over criminal charges brought against leading national Orthodox rabbi , Barry Freundel, who is now accused of filming over 150 women engaged in the ritual bath known as a Mikva. As if not to be outdone, leading Islamic scholar and Imam Mohammed Abdullah Saleem, 75, has been charged outside of Chicago with sexually abusing a 23-year-old employee last year in Elgin’s Institute of Islamic Education. He is also accused of abusing three other women. The four women have filed civil actions against him and the Islamic school in what could be a messy tort action that proceeds in tandem with the criminal charges. We have discussed the same criminal/civil tracks in the case of Rabbi Freudel. 
