Sources close to the investigation say that the US Justice Department is currently investigating allegations that more than $250 billion or Iranian money was moved by Standard Chartered Bank for a period of over a decade, reports indicate. Already losing billions in market cap from the prior two days of trading, Standard Chartered got destroyed once again on today’s trading, as the bank lost another 16% of its value on Tuesday.
Word is that a criminal case could be pursued against the bank and its executives. What is known currently is that the New York State Department of Financial Services (“NYSDFS”) has also found similar “breaches” for accounts in Libya, Myanmar and Sudan, which are all countries under US sanctions.
The bank was boasted to be “too boring” as early as last week, when the bank’s top management boasted about how minimal the exposure of the bank was in the midst of interest rate fixing crime syndicates and further, it had plenty of reason to be even happier, as earnings released last week showed its 10th successive year of record profits.
Regardless, the NYSDFS has concluded that the bank’s actions left the US “vulnerable to terrorists, weapon dealers, drug kings and corrupt regimes”.
Story is HERE.
I don’t see this as Standard Chartered being some good guy bank that’s always done right and is being taken down by the US authorities as a convenient distraction from its own corrupt banks while advancing its “war on terror” agenda by exerting more control and showing everyone this by example.
The main reason why is Standard Chartered is thoroughly tied up into Rothschild banking and is part of the banking cartel, which really puts an interesting light into all this.
Perhaps it will take foreign regulators to mete out justice at this rate, but I doubt it, I think what’s occurring now is a “feeler” – that is, some agency in the Western Rothschild banking world is trying to make a move towards criminal charges but everyone is chicken shit since a lot of the regulators and the like work for corrupted agencies bought out and controlled by puppetmasters, but are now sufficiently free enough to actually do something about it since the public is waking up. Or perhaps not, who knows.
This story is moving fast and Standard Chartered is losing billions in market capitalization via the stock market by the day. If this continues the news coming out of the financial sector will not be good – you just don’t go through a thorough pummeling of the entire banking and financial sector in the summer laced with interest rate crime syndicates, flash crashes and faulty derivatives without paying the piper.