DoJ Gags WVa US Attorney from Commenting on HSBC Money Laundering
May 19, 2012 • 10:15AM

Obama's protector Eric Holder is at it again, treating the Constitution and American people with contempt, in the case of the allegations against HSBC, the British Empire banking giant under investigation for money laundering in multiple jurisdictions. Executive Intelligence Review investigators learned Friday that Holder's DoJ has gagged the U.S. Attorney's office in the Northern District of West Virginia and instructed that office to route all inquiries about the HSBC money-laundering case to "Main Justice," where the answer is, "No comment."

HSBC is being investigated by the Justice Dept., by the DoJ's Eastern District US Attorney's office, by the Office of the Comptroller of the Currency, and by the Senate Permanent Subcommittee on Investigations, but don't get the impression that these investigations are serious — these agencies have actually been investigaiting HSBC since 2003, and HSBC has not even received a "tap" on the wrist. The West Virginia U.S. Attorney was told in 2010 to end his five-year investigation into HSBC and turn it over to Main Justice, but no charges have been filed. These manifold investigations are a convenient means of cover-up, because all agencies are instructed to say, "We can't comment on an ongoing investigation."

A report by the West Virginia U.S. Attorney's office says that HSBC created an operation that was "a systemically flawed sham paper-product designed solely to make it appear that the Bank has complied" with anti-money-laundering laws (AML) and with the Bank Secrecy Act. HSBC was put under moderate surveillance in 2003 for lax anti-money-laundering procedures, and brought in a former prosecutor to set up a flashy software system. The Federal surveillance of HSBC was lifted after a few years, but by May 2010, the HSBC's "backlog of alerts [about suspicious account activities by bank customers] was nearly 50,000 and 'exponentially growing each month'" according to Reuters, quoting from documents the news service reviewed.

Lyndon LaRouche's comment on the HSBC money-laundry case was issued on May 15 in an LPAC press release entitled "HSBC Caught Laundering Mexican Dope Cartel Money; How Much of it Went to Obama's 2008 Campaign?" This has been posted on the website antimoneylaundering.us based in Caraccas, Venezuela, and in Panama. The website is part of an international organization that holds conferences for law enforcement and private investigators on battling money laundering.