Printer Friendly
The Free Library
14,504,020 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Funny money.


Riggs Bank Riggs Bank was a Washington, DC-based commercial bank with branches located in the surrounding metropolitan area and offices around the world. For most of its history, it was the largest bank in the nation's capital. , a Washington institution for ages--its flagship branch is actually depicted on the $10 bill--was recently fined $25 million for failing to report suspicious transactions in the accounts of the embassies of Saudi Arabia Saudi Arabia (sä`dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop.  and Equatorial Guinea Equatorial Guinea (gĭn`ē), officially Republic of Equatorial Guinea, republic (2005 est. pop. 536,000), 10,830 sq mi (28,051 sq km), W central Africa. . It seems that possible violations of rules against money laundering The process of taking the proceeds of criminal activity and making them appear legal.

Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds.
 by Riggs had been discovered as early as 1997. Why then did the government take seven years to act? Your guess is as good as mine, but you may be interested to know that the comptroller of the currency's examiner-in-charge from 1998-2002 became a vice president of Riggs when he left the government.

Doesn't this remind you of the woman who became a Boeing executive after leaving her job at the Air Force, where she had awarded Boeing an unusually lucrative contract?
COPYRIGHT 2004 Washington Monthly Company
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Tilting at Windmills
Author:Peters, Charles
Publication:Washington Monthly
Article Type:Brief Article
Geographic Code:1USA
Date:Jul 1, 2004
Words:130
Previous Article:Unscreened.(Tilting at Windmills)(Brief Article)
Next Article:Religious left.(Tilting at Windmills)
Topics:



Related Articles
Letters.(Letter to the Editor)
Marrying Mohammed Atta. (Letters).
Feeding frenzy. (Letters).(Letter to the Editor)
Cracks in the foundation.(Letters)(Letter to the Editor)
Jilting at windmills.(Letters)(Letter to the Editor)
Livin' at the Savoy.(Tilting at Windmills)(Brief Article)
I pay my own fees.(Letter to the Editor)
Up in smoke.(Tilting at Windmills)(tobacco settlement money spending)(Brief Article)
In defense of Wal-Mart.(LETTERS)(Letter to the editor)
Money, money, money.(TILTING at windmills)(Brief article)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles