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Thread: The FinCEN leak: An Ugly 2 Trillion Dollar Banking Scandal

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    Avalon Member Kryztian's Avatar
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    Default The FinCEN leak: An Ugly 2 Trillion Dollar Banking Scandal

    All quote taken from this article. Please DO read it https://www.buzzfeednews.com/article...minal-networks

    Buzzfeed has received a treasure trove of leaked documents showing how banks like Deutsche Bank, JPMorgan Chase, HSBC, and Bank of New York (Mellon) have been aiding and abetting terrorist, drug cartels, child trafficking, Ponzi schemers and corrupt dictators by helping them launder money through their banks.

    The documents also show that the U.S. Treasury Department, though its Financial Crimes Enforcement Network, or FinCEN, failed to stop these crimes or stop banks from engaging in this activity.

    Quote Suspicious payments flow around the world and into countless industries, from international sports to Hollywood entertainment to luxury real estate to Nobu sushi restaurants. They filter into the companies that make familiar items from people’s lives, from the gas in their car to the granola in their cereal bowl.

    The FinCEN Files expose an underlying truth of the modern era: The networks through which dirty money traverse the world have become vital arteries of the global economy. They enable a shadow financial system so wide-ranging and so unchecked that it has become inextricable from the so-called legitimate economy. Banks with household names have helped to make it so.
    Just a few of examples of the many, many crimes the banks have helped to finance and the U.S. Treasury has permitted to occur:

    Quote
    • Standard Chartered moved money on behalf of Al Zarooni Exchange, a Dubai-based business that was later accused of laundering cash on behalf of the Taliban. During the years that Al Zarooni was a Standard Chartered customer, Taliban militants staged violent attacks that killed civilians and soldiers.

    • HSBC’s Hong Kong branch allowed WCM777, a Ponzi scheme, to move more than $15 million even as the business was being barred from operating in three states. Authorities say the scam stole at least $80 million from investors, mainly Latino and Asian immigrants, and the company’s owner used the looted funds to buy two golf courses, a 7,000-square-foot mansion, a 39.8-carat diamond, and mining rights in Sierra Leone.

    • Bank of America, Citibank, JPMorgan Chase, American Express, and others collectively processed millions of dollars in transactions for the family of Viktor Khrapunov, the former mayor of Kazakhstan’s most populous city, even after Interpol issued a Red Notice for his arrest. Khrapunov, who had already fled to Switzerland and who claims the allegations are politically motivated, was later convicted in absentia on charges that included bribe-taking and defrauding the city through the sale of public property.
    There are several news stories about the FinCEN, but Buzzfeed's is by far the most comprehensive and mentions names of people, companies and banks. Most articles would not mention these names, unless the name was clearly of someone criminal. The most notably vacuous article was in The Guardian, which only mentioned one name, Paul Manafort, presumably because it could connect him to the Trump Administration. It provided a nice big picture of Manafort at the top of the page, but no information of how he participated in money laundering and how much of the funds were involved.

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    Default Re: The FinCEN leak: An Ugly 2 Trillion Dollar Banking Scandal

    This page contains a somewhat detail description of many of the players and banks involved.
    https://www.icij.org/investigations/...nd-terrorists/

    For instance, in the case of Manafort:
    Quote Paul Manafort headed Donald Trump’s U.S. presidential campaign before resigning in the summer of 2016 following reports about his work as a consultant for Viktor Yanukovych, Ukraine's former president. Manafort was a key figure in Special Counsel Robert Mueller’s investigation into Russian interference in the 2016 U.S. election. In 2018, Manafort was convicted of fraud and tax evasion. He later pleaded guilty to conspiracy to defraud the U.S. and obstruction of justice and began serving a 7.5-year prison sentence. He was released this year to home confinement as COVID-19 began sweeping through prisons.

    Banks began flagging suspicious transactions involving Manafort’s accounts as far back as 2012, but some continued moving his money even as he became a central figure in a major American political scandal.

    In 2017, JPMorgan Chase reported suspicious wire transfers totaling more than $322 million involving shell companies in Cyprus and other secrecy jurisdictions that had done business with Manafort. At least $40.2 million involved the political consultant himself. The transfers involving Manafort and the other companies took place between May 2005 and September 2017. The bank reports said that media investigations had revealed Manafort’s ties to Russian-connected Ukrainian officials and suspected money laundering. JPMorgan Chase also noted suspicions “concerning the source of funds” involved in the transactions and referred in its report to newspaper articles detailing Manafort’s alleged “off-the-books payments from a pro-Russian political party.”

    A FinCEN “research summary” describes additional transfers taking place in 2012 and 2013 via JPMorgan Chase to companies controlled by Manafort and his business partner Richard Gates, who later pleaded guilty to conspiracy against the U.S. The transfers included more than $3.1 million sent by Lucicle Consultants Ltd., identified in a 2018 FBI interview of Gates as one of several Cyprus-based firms that received political consulting payments from a pro-Russia Ukrainian political party led by Yanukovych. Lucicle sent money to a remodeling company hired to renovate Manafort’s vacation house and his children’s homes, to a home-improvement business in Florida and to Manafort’s New York consulting firm, the FinCEN report says. FinCEN wrote that “a continual lack of transparency” was the reason why JPMorgan Chase reported the transfers as suspicious, according to the research summary.

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    Default Re: The FinCEN leak: An Ugly 2 Trillion Dollar Banking Scandal

    There are a lot of banks involved in the international financial mafia. But clearly, one of them is leading the way:



    Yes, Deutsche Bank.

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    Default Re: The FinCEN leak: An Ugly 2 Trillion Dollar Banking Scandal

    It's over $100 trillion. From here: https://projectavalon.net/forum4/show...=1#post1362117



    @30:32
    Quote And I know that you have said that you carry a sense of responsibility over creating the programs that you intended to protect our country but that were turned and used against the American people, but from what you're saying there's a very ironic twist to this because these same programs that were spying on everyone may have been secretly recording some massive criminal behavior, because it is estimated at about 100 trillion dollars that belong to the American public disappeared on Wall Street.
    The only place a perfect right angle ever CAN be, is the mind.

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    Default Re: The FinCEN leak: An Ugly 2 Trillion Dollar Banking Scandal

    If you think Investigative Journalism is dead, it is in fact showing some vibrant signs of life at the International Consortium of Investigative Journalists (ICIJ), the organization of journalists who have been pouring through this leaked FinCen data and making sense of it. They were also involved in the Panama Papers (2017) investigation and other lesser known leaks, all of which have demonstrated how corrupt our banking system is, and how it has worked to launder drug money and execute other financial transactions to aide and abet the world's criminal elite.

    Here are three short (like 3 minutes each) Youtube videos that they have released about the FinCEN leaks:
    1. An overview of what FinCEN is

    2. SARs, or Suspicious Activity Reports

    3. How banks help money launderers.

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