Major Bank Fined for Money Laundering: U.S....
Major Bank Fined for Money Laundering: U.S. District Judge William Hodges ordered Bank of Credit & Commerce International to forfeit more than $15 million after pleading guilty to drug money laundering charges in a case with links to deposed Panamanian strongman Manuel A. Noriega and Colombian cocaine traffickers. Hodges also placed two divisions of the Luxembourg-based bank on five years’ probation for their role in a $32-million laundering operation. The sentence imposed by the judge was in line with a plea bargain deal that BCCI reached with federal prosecutors in mid-January to avoid facing a criminal trial in Tampa, Fla.
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