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:

    “In one notable instance, where the United States Army and a hundred years of persuasion failed, a highway has succeeded. The Seminole Indians surrendered to the Tamiami Trail. From the Everglades the remnants of this race emerged, soon after the trail was built, to set up their palm-thatched villages along the road and to hoist tribal flags as a lure to passing motorists.”
    —For the State of Florida, U.S. public relief program (1935-1943)

    “There are some cases ... in which the sense of injury breeds—not the will to inflict injuries and climb over them as a ladder, but—a hatred of all injury.”
    —George Eliot [Mary Ann (or Marian)