List of Bank Fraud and Criminal Activities

POSTED BY ELPIDIOVALDES ⋅ JANUARY 4, 2013 ⋅

 LEAVE A COMMENT FILED UNDER AIG, BANK OF AMERICA, BANKS, CREDIT SUISSE, CRIMINAL, DRUG, FINES, FRAUD, GOLDMAN SACHS, HSBC, JP MORGAN, LANUDERING, SUITS, UBS, WACHOVIA, WEGELIN, WELL FARGO

Contrary to popular belief, banks are not tools used serve the public good. In reality, modern day banking is basically used to serve private needs. There is no need to engage in conspiracy theories or debate, the facts speak for themselves.

 Below are a list of banks that have engaged in fraud and/or other criminal activities:

 JP Morgan and Credit Suisse pay $417m to settle securities charges http://www.bbc.co.uk/news/business-20370509

 HSBC to pay $1.9bn in US money laundering penalties http://www.bbc.co.uk/news/business-20673466 http://www.democracynow.org/2012/12/13/matt_taibbi_after_laundering_800_million

 Drug money saved banks in global crisis, claims UN advisor http://www.guardian.co.uk/global/2009/dec/13/drug-money-banks-saved-un-cfief-claims

UBS fined $1.5bn for Libor rigging http://www.bbc.co.uk/news/business-20767984 Swiss bank Wegelin to close after US tax evasion fine http://www.bbc.co.uk/news/business-20907359

AIG Settlement: Insurance Giant Agrees To Pay Investors $725 Million settlement to resolve allegations of wide-ranging fraud http://www.huffingtonpost.com/2010/07/16/aig-settlement-investors_n_649910.html

Banks Financing Mexico Gangs Admitted in Wells Fargo and Wachovia Deal http://www.bloomberg.com/news/2010-06-29/banks-financing-mexico-s-drug-cartels-admitted-in-wells-fargo-s-u-s-deal.html

Goldman Sachs Will Settle Fraud Case for $550 Million http://www.cnbc.com/id/38267132/Goldman_Sachs_Will_Settle_Fraud_Case_for_550_Million

Bank of America sued for alleged mortgage fraud http://money.cnn.com/2012/10/24/news/companies/bank-of-america-lawsuit/index.html

Wells Fargo Committed Mortgage Fraud To Maximize Profits, U.S. Suit Says http://www.forbes.com/sites/halahtouryalai/2012/10/09/wells-fargo-committed-mortgage-fraud-to-maximize-profits-us-attorney-lawsuit/

J.P. Morgan Sued on Mortgage Bonds http://online.wsj.com/article/SB10000872396390444138104578030903731665328.html

So if banks are willing to engage in criminal activities to serve private needs at the expense of the general public, what should we do about them? Most likely, nothing. I hope I’m wrong.