Money Laundering - Notable Cases

Notable Cases

  • Bank of Credit and Commerce International: Unknown amount, estimated in billions, of criminal proceeds, including drug trafficking money, laundered during the mid-1980s.
  • Bank of New York: US$7 billion of Russian capital flight laundered through accounts controlled by bank executives, late 1990s
  • Nauru: US$70 billion of Russian capital flight laundered through unregulated Nauru offshore shell banks, late 1990s
  • Sani Abacha: US$2–5 billion of government assets laundered through banks in the UK, Luxembourg, Jersey (Channel Islands), and Switzerland, by the president of Nigeria.

Read more about this topic:  Money Laundering

Famous quotes containing the words notable and/or cases:

    a notable prince that was called King John;
    And he ruled England with main and with might,
    For he did great wrong, and maintained little right.
    —Unknown. King John and the Abbot of Canterbury (l. 2–4)

    In the beautiful, man sets himself up as the standard of perfection; in select cases he worships himself in it.... Man believes that the world itself is filled with beauty—he forgets that it is he who has created it. He alone has bestowed beauty upon the world—alas! only a very human, an all too human, beauty.
    Friedrich Nietzsche (1844–1900)