Deutsche Bank Faces Criminal Investigation for Potential Money-Laundering Lapses
nytimes.comsurely if a corporations are persons and they get convicted of money laundering then they should be incarcerated and not fined. for a corporation incarceration would mean shuttering the entire operation for the sentence period
> Ms. McFadden, a former anti-money-laundering compliance officer at the bank, told The New York Times last month that she had flagged transactions involving Mr. Kushner’s family company in 2016, but that bank managers decided not to file the suspicious activity report she prepared. Some of her colleagues had similar experiences in 2017 involving transactions in the accounts of Mr. Trump’s legal entities, although it was not clear whether the F.B.I. was examining the bank’s handling of those transactions.
Perhaps we could start by jailing those directly involved in the money laundering? I find it hard to put too much blame on those trying to provide customer service to the President's family.
Deutsche bank employs tens of thousands of people, shutting them down would cause a lot of grief and miscarried justice.
The execs are the ones who should be tried and jailed.
So what I'm getting from what you are saying is that it would be a good deterrent to suspend the business for a few years?
No, it is punishing the wrong people, who would lose their jobs and who were not the ones responsible for the decision making.
Let's see if their CFO is arrested in a third country.
Blah blah. Nothing will happen. They will pay a fine of 0.00000% of revenue and go about their business. They will still have full access to all markets, the fed discount window for low interest credit and every legal protection of a “person” under law.
Yeah, "Potential Money-Laundering Lapses" is a interesting phrase to use to describe a systemic and long running criminal conspiracy. Sounds like we're most of the way there to the "Nothing will happen" part.
The amount of prosecutions on white collar crimes has dropped dramatically in the last 20 years. The companies are now too big to fail.
Eh, I think the donors are
U should listen to this https://castro.fm/episode/tHImy5
“Lapses”? Really? That’s what we are calling crimes now?
"Lapses" seem ok to me if some upper management are also fortunate enough to gain involuntary entitlement to free food and lodgings.
It's impolitic to call it a "crime" when you see who's alleged to have been doing it...
Isn't this off topic?
I think it's relevant.
Seems pertinent to discussions of Facebook's new cryptocurrency pseudo-bank no?
There's no discussion of cryptocurrency in this article.