Wednesday, January 09, 2013

HSBC money laundering report: Key findings


From among these culprits there was one person whose name was Julio. According to investigating officers, Julio was principal to other culprits who was making the illegal money legal or in a process was involved in the process of money laundering.

It was said by special investigative executive James. The ICI agency is investigating this case. According to a lawyer from Columbia, Julio Chaparo was the middle man in this process of money laundering by these groups of people. The spokes person of HSBC said no comment in this issue. Till now it was not clear that drug traffickers were using  +HSBC  as their payment gateway or not.

In the attorney office of New York and California, the secret report that specifically told how HSBC was used for drug is trafficking and money laundering. It was first traced by federal task force of South America, which analyses all wire transfers, e-mail, computer and other resources, how these money laundering and drug trafficking was taken place. In this way federal task force of South America knew the gang that was actively involved in money laundering and drug trafficking. This gang sells narcotics at America, and then the money gathered from this sell was sent to Mexico and then was deposited with HSBC bank there. It was being perceived that at Mexico, if you deposit a huge amount of money then no one suspect you, this is not the case at America so they chose Mexico for this. According to investigating officer of America, Chaparo and others drug traffickers and money launders, deposits all the money that they get from drug selling to Mexico HSBC bank. Then, they send this money to America and to some other places.

One member of that narcotic gang became a seller and they receive the offer from these members and they export all these electrical materials like that of computer and washing machine to South America. According to judiciary of America, due to some loop holes with HSBC transactions, these narcotics gang benefited immensely from this. At HSBC it was not been clearly investigated about the depositors, electronic wire transfer, and other money laundering issues. The task force that was investigating these narcotics group money laundering and drug trafficking issues started investigation of this issue from 2007. From investigation the executive came to light how courier companies from Miami and Houston , indulging sending these ill got money to south American countries. Then, they came to know how HSBC bank of Mexico was being used by these narcotics group and how this money comes again to New York, they knew it in detail.

He was active in spending the money that has been received through illegal drug sale. Fernado got his bail at the cost of two lacs as dollar. There was one criminal conspiracy case against him. Then, the investigative team stopped him and search and at that time from two bags he had 1, 53,000 dollars. Then the investigative team went to his apartment and there they found ledger and other important documents, and after analyzing all these it was understood that was the case of money laundering. Then, he was arrested, after interrogation, they knew about Chaparo and his way of doing these money laundering activities.

This was reported to justice department by investigating team. According to investigating reports, the federal agencies will be investigating about money laundering of HSBC Mexico to HSBC America , about huge  sum of money , huge money  , and it was said by the investigative agencies that , from 2008 April 5 to 2009 April 13 , with the sell of narcotics by these narcotics groups , then they gained huge money and these money were illegal and they money launder illegally through Chaparo and other narcotics groups.

Summary: 


According to investigating officers, Julio was principal to other culprits who was making the illegal money legal or in a process was involved in the process of money laundering.

According to a lawyer from Columbia, Julio Chaparo was the middle man in this process of money laundering by these groups of people.
In the attorney office of New York and California, the secret report that specifically told how HSBC was used for drug is trafficking and money laundering. It was first traced by federal task force of South America, which analyses all wire transfers, e-mail, computer and other resources, how these money laundering and drug trafficking was taken place. In this way federal task force of South America knew the gang that was actively involved in money laundering and drug trafficking. This gang sells narcotics at America, and then the money gathered from this sell was sent to Mexico and then was deposited with HSBC bank there. According to investigating officer of America, Chaparo and others drug traffickers and money launders, deposits all the money that they get from drug selling to Mexico HSBC bank. Then, they send this money to America and to some other places.

At HSBC it was not been clearly investigated about the depositors, electronic wire transfer, and other money laundering issues.

Then the investigative team went to his apartment and there they found ledger and other important documents, and after analyzing all these it was understood that was the case of money laundering.

by +ittech