Controversy
On May 15, 2004, The Washington Post published an item about Jonathan Bush which states: "A political Web site written by a Democratic operative drew attention yesterday to the fact that President Bush's uncle, Jonathan J. Bush, is a top executive at Riggs Bank, which this week agreed to pay a record $25 million in civil fines for violations of law intended to thwart money laundering."
The bank accounts under investigation may have been Saudi, though the article does not state such. It does, however, go on to say: "...a source familiar with the multiple federal investigations of the bank's Saudi accounts and other embassy accounts say Jonathan Bush's investment advice unit has 'no relationship whatsoever' with any of the Riggs's Saudi accounts." Moreover, the newspaper quotes a spokesman for the Office of the Comptroller of the Currency as saying "any suggestion of political influence in the Riggs situation is 'preposterous.'"
In 1991, Bush was fined $30,000 in Massachusetts and several thousand in Connecticut for violating registration laws governing securities sales. He was barred from securities brokerage with the general public in Massachusetts for one year.
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