"Sol Prendido” for Borderland Beat
Here's a conversation about international banking, massive drug cartels and billions in laundered money. My first guest is Chris Blackhurst. He's the author of a book called Too Big to Jail: Inside HSBC, the Mexican drug cartels and the biggest banking scandal of the century.
And if you think about that, we've already had a couple of big banking scandals, so this is a big one. The book tells the story of how HSBC ignored money laundering laws and processed billions in dirty cash for notorious drug lord and murder El Chapo in the early 2000's and into the 2010's.
One of the characters we meet in the book is a guy named Everett Stern, who was an anti money laundering compliance officer at HSBC. Everett saw how intentionally lax HSBC’s methods were for identifying and reporting to the government suspicious activity going on within its banks.
He turned whistleblower and started sharing his story with the CIA. Everett has appeared in the Netflix documentary Dirty Money, and he's written a book about his experience called Dark Money and Private Spies.
The logo for that bank reminds me of the umbrella academy corporation from resident evil franchise
ReplyDeleteActually more the Umbrella Corporation from resident evil.
DeleteA big shout out to Sol. Hope you and your loved ones have a happy memorial day weekend.
Happy weekend to you as well Blanko. Take care of yourself playboy.
Delete18 years ago HSBC bought the small Mexican bank, Banco Bital, where I banked. Only a few months later a large amount of pesos disappeared from my account. It was a struggle, but I got my money back and closed my account. They are well known here as a bank to stay clear of, if you are an honest citizen, that is.
ReplyDeleteGood podcast. Bankers are so shady and never punished.
ReplyDeleteSimon cacheton. The bank paid a fine equivalent to only 5 weeks profit and no banker was arrested or punished.
DeleteHSBC paid about 2.5 billion dollars fine about 1% of the money laundered, but the bank gets to keep the laundered money for themselves when the traffickers get arrested or killed, as investors the banksters get to keep the profits and own the investments.
DeleteWhy hsbc has a branch in badiraguato
ReplyDeleteI tried to watch the video but the amount of “Chapo’s so smart, cool, badass, etc.” made me feel like I was watching a Vice or Netflix documentary. The author also didn’t sound well-versed in the business, just mesmerized by the wealth and power of a dwarf
ReplyDeleteWhat else is new ? That's as old as the moon but before it wasn't out in the open as today's clowns.
ReplyDelete