Will HSBC Probes Sink Loretta Lynch?
The British and Swiss governments are moving ahead with investigations into allegations of HSBC's global tax evasion conspiracy, centered in its private bank in Geneva, but, according to Reuters, the bank executives' biggest fear is that the US Department of Justice will be forced to reopen its investigation and reopen the 2012 deferred prosecution agreement that let HSBC and its top officials off the hook, in exchange for a $1.9 billion fine.
This week, Sen. Chuck Grassley (R-IA), Chairman of the Senate Judiciary Committee, has scheduled a Feb. 26 vote on the nomination of Loretta Lynch to be the next Attorney General. However, she has been given nine questions about her involvement in the HSBC deferred prosecution deal, in her capacity as US Attorney for the Eastern District of New York, and the answers may determine whether her nomination survives or sinks.
This week, HSBC is due to release its annual financials for 2014, and the bank will declare $21 billion in pre-tax profits. While that figure is down 7 percent from 2013, the release of that data is likely to put a renewed spotlight on the bank's global criminal operations.
Herve Falciani, the IT employee who delivered the evidence of the global tax evasion scheme to French prosecutors, and is now under French government protection against Swiss criminal theft charges, told the Italian newspaper La Stampa this week that the HSBC case is the tip of the iceberg, and that the entire offshore financial empire is one gigantic criminal enterprise, with all of the too-big-to-fail banks engaging in the same swindles.
This week, Executive Intelligence Review will be publishing an extensive report on the HSBC Royal crime syndicate, with detailed background on the LaRouche movement's 35-year war against the Dope, Inc. apparatus, centered around HSBC.