Thread: Citigroup Will Close Banamex USA, Pay $140 MILLION for Money Laundering

If you put people in prison the taxpayers are stuck paying for the investigation, the prosecution, their transportation, food, clothes, medical care etc.

If you fine the company the government gets reimbursed for the investigation and turns a nice profit on it.

Companies will give a lot of money to keep their CEO and other top people out of prison and keep the company turning a profit (and paying taxes) and all of their employees working (and paying taxes.) And keep the stockholders happy and making money. (And paying taxes.)

If you destroy the company all of the employees lose their jobs (and stop paying taxes), and the shareholders lose their money (and stop paying taxes)

IT'S ALWAYS ABOUT THE MONEY.

Originally Posted by JohnDoe2

If you put people in prison the taxpayers are stuck paying for the investigation, the prosecution, their transportation, food, clothes, medical care etc.

If you fine the company the government gets reimbursed for the investigation and turns a nice profit on it.

Companies will give a lot of money to keep their CEO and other top people out of prison and keep the company turning a profit (and paying taxes) and all of their employees working (and paying taxes.) And keep the stockholders happy and making money. (And paying taxes.)

If you destroy the company all of the employees lose their jobs (and stop paying taxes), and the shareholders lose their money (and stop paying taxes)

IT'S ALWAYS ABOUT THE MONEY.

So are you suggesting fines instead of individual prosecution is going to solve the problem? I would disagree 100%! Those individuals guilty of a crime need to be punished according to law. That's one of the problems with our country today ......... failure to hold folks responsible and accountable for their actions.

Don't forget that city, county state and federal governments have no money other than what they take from people and companies as taxes, fines and fees.

Their goal is to keep the money coming in.

Putting people in prison doesn't keep the taxes, fines and fees coming in.

Their goal is different from wanting to hold people accountable.

I'm not saying that is the way it should be.

I'm saying that is the way it is.

Originally Posted by MW

So are you suggesting fines instead of individual prosecution is going to solve the problem? I would disagree 100%! Those individuals guilty of a crime need to be punished according to law. That's one of the problems with our country today ......... failure to hold folks responsible and accountable for their actions.

Money laundering is a new crime. The first laws passed about it were passed in 1970 as part of the failed "War on Drugs". These laws haven't curtailed the illegal drug trade. These laws haven't accomplished anything positive for our nation or our people. Quite the reverse, they have in the course of enforcing these laws against drug dealers and other illegal enterprises stomped on the privacy rights of all Americans.

In my opinion, we should end the War on Drugs, legalize and regulate the business, make it a US-Citizen-only owned and operated domestic-only (no imports, no exports) business from A to Z, tax it under the FairTax, and use part of the tax proceeds only drug usres pay to better educate our people about the real risks and consequences of using drugs and provide free rehab on demand without stigma for anyone who wants or needs it.

These money-laundering laws do not benefit the US or our citizens, instead they harm both. Why do we care if drug money sucked out of our economy by illegal enterprises finds its way back into our banking system and money supply? We don't. To care would be too stupid to believe. Ironically, while sounding good on the surface, money laundering laws weren't designed to benefit the US or the American People, they were designed to help foreign governments keep the money their people earn in foreign illegal drug and other illicit sales in the US in their own country in their banks while giving authority to our government to spy on Americans through their banking transactions.

When you stand back and look at some of these laws like anti-drug laws and their related anti-money laundering laws, you see the motive for these laws were not for US, they were for the benefit of foreign governments, foreign interests and foreign persons. I mean why would our government want to prevent money taken illegally out of our economy from finding its way back home into our banks
where it belongs?

Also, like the income tax, anti-money laundering laws were first passed by Democrats when they controlled the US Congress.

I'm no fan of Citigroup, but I see no benefit to our country of anti-money laundering laws and believe they should all be repealed so freedom and privacy can be restored to our private banking system.

Judy wrote:

I'm no fan of Citigroup, but I see no benefit to our country of anti-money laundering laws and believe they should all be repealed so freedom and privacy can be restored to our private banking system.

Sometimes you just amaze me, Judy. So are you actually suggesting we aid the drug cartels by allowing U.S. banks to profit from the cleaning of illegally obtained drug money?

12/1/14

http://www.alipac.us/f19/some-banks-...border-315395/

Originally Posted by MW

Sometimes you just amaze me, Judy. So are you actually suggesting we aid the drug cartels by allowing U.S. banks to profit from the cleaning of illegally obtained drug money?

This is what I suggested:

Money laundering is a new crime. The first laws passed about it were passed in 1970 as part of the failed "War on Drugs". These laws haven't curtailed the illegal drug trade. These laws haven't accomplished anything positive for our nation or our people. Quite the reverse, they have in the course of enforcing these laws against drug dealers and other illegal enterprises stomped on the privacy rights of all Americans.

In my opinion, we should end the War on Drugs, legalize and regulate the business, make it a US-Citizen-only owned and operated domestic-only (no imports, no exports) business from A to Z, tax it under the FairTax, and use part of the tax proceeds only drug usres pay to better educate our people about the real risks and consequences of using drugs and provide free rehab on demand without stigma for anyone who wants or needs it.

These money-laundering laws do not benefit the US or our citizens, instead they harm both. Why do we care if drug money sucked out of our economy by illegal enterprises finds its way back into our banking system and money supply? We don't. To care would be too stupid to believe. Ironically, while sounding good on the surface, money laundering laws weren't designed to benefit the US or the American People, they were designed to help foreign governments keep the money their people earn in foreign illegal drug and other illicit sales in the US in their own country in their banks while giving authority to our government to spy on Americans through their banking transactions.

When you stand back and look at some of these laws like anti-drug laws and their related anti-money laundering laws, you see the motive for these laws were not for US, they were for the benefit of foreign governments, foreign interests and foreign persons. I mean why would our government want to prevent money taken illegally out of our economy from finding its way back home into our banks
where it belongs?

Also, like the income tax, anti-money laundering laws were first passed by Democrats when they controlled the US Congress.

I'm no fan of Citigroup, but I see no benefit to our country of anti-money laundering laws and believe they should all be repealed so freedom and privacy can be restored to our private banking system.

Not only drug cartels, but other terrorist organizations have also used U.S. banks to launder money for their operations. Yep, money laundering has benefited organizations whose primary goal in life is to kill Americans!

Our laws, whether you or I agree with them, are set in place for our protection. Supporting drug cartels and other terrorist organizations is not protecting Americans.

9 accused of laundering $3.6M for drug traffickers

Federal indictment says money was used to buy 35 Cessna planes

By Susan Shroder | 11:43 p.m. July 23, 2015

SAN DIEGO — A Tijuana airplane broker and eight others are accused in a San Diego federal grand jury indictment of laundering $3.6 million in drug-trafficking proceeds through the purchase of 35 Cessnas intended for drug smuggling, the U.S. Attorney’s Office said.

The broker, Vicente Contreras-Amezquita, 44, was arrested last week and appeared Thursday in federal court. In the 200-count indictment, he faces charges including conspiracy and aiding and abetting.

Contreras-Amezquita lived in San Diego when the crimes occurred from 2007 until 2012, prosecutors said in a statement.

His wife, Elizabeth Fregoso-Zamora, also is named in the indictment, along with seven others who are accused of being part of a money-laundering crew.

The indictment said that during the five-year period, the defendants opened 46 different checking and savings accounts in banks in California and five other states with cash deposits totaling $3.6 million.

The individual deposits were all under $10,000 in order to evade federal reporting requirements for currency transactions greater than that amount.

The money was transferred between accounts “in convoluted financial transactions” to facilitate the purchase of the Cessnas and plane parts, including heavy-duty tires for landings at “clandestine” airfields, the statement said.

“Cessna 206s and 210s are types of airplanes preferred by drug-trafficking organizations operating in Mexico because of their reliability, speed and ability to carry heavy payloads over long distances,” the indictment stated.

Contreras-Amezquita is accused of collecting the drug-sale proceeds in various locations, including strip malls, parking lots, fast-food restaurants and airplane hangars.

He remains in custody, with a detention hearing scheduled for July 30. If convicted, he faces a possible sentence of up to 20 years in prison, prosecutors said.

His wife is accused of laundering money, opening bank accounts, making deposits, and making payments for planes from the accounts, the indictment said.

The case was investigated by U.S. Internal Revenue Service Criminal Investigations and the U.S. Drug Enforcement Administration.

http://www.sandiegouniontribune.com/...g-traffickers/