Report: Regulators poised to fine bank (Riggs)

[salin]

Report: Regulators poised to fine bank

By Leticia Williams, CBS.MarketWatch.com
Last Update: 1:10 PM ET April 18, 2004

WASHINGTON (CBS.MW) -- Federal regulators are expected to fine Riggs Bank as early as this week for not disclosing millions of dollars in transactions between the bank and the embassy of Saudi Arabia, according to a published report.

The FBI and three congressional panels are investigating Riggs' 20-year role as chief banker for the Saudi Arabian embassy in Washington, the Washington Post reported Sunday in its online edition.

Several bank executives, including Chairman Robert Allbritton were notified that they could be individually sanctioned, the Post said, citing unnamed sources.

more: http://cbs.marketwatch.com/news/story.asp?guid=%7B705F07F6%2DAEC4%2D41C6%2DB456%2DF62CBEC3B119%7D&siteid=mktw

[legin]

1. I think they come up before here too

The attempted coup in Equatorial Guinea. I think Obiang has a national account for his country with Riggs on which he unusually is the sole signator, not with Economy minister as is more normal.

If I remember the article that was posted here, Riggs Bank are the go to guys if you are up to something a little dubious.

If I had a filofax I'd put them in it for later. ;-)

[salin]

2. Which DC based bank was tied up in BCCI? First American?

Now why would my mind go immediately in that direction? :shrug:

If I recall correctly, Riggs used to have a huge, old bank (headquarters?) very close to the Dept of Treasury. Always gave the impression of long standing ties to the powers that be in our government.

[legin]

3. Bit more on Riggs and Obiang and others

http://www.globalpolicy.org/security/natres/oil/2003/0122gui.htm

(all good difficult to snip from)

[salin]

5. good article... so did Washington call Obiang, or oil executives

to get his quick cooperation for giving temporary sanctuary to the forced out Aristide?

[legin]

4. Wonderful thread from Foreign Affairs Forum by DulceDecorum

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=125&topic_id=9558

[loudsue]

6. Chairman Allbritton is very old family friend & financier of Bushes

He's been part of the family for generations....

Just another part of the mafia running our country.

:kick:

[goforit]

7. Just a little slap on the wrist!...How about 20 years in the slammer!!

All expenses paid!!!