Loretta Lynch tied to world’s biggest banking scandal

Loretta Lynch

NEW YORK – Attorney general nominee Loretta Lynch could be facing new confirmation problems in the U.S. Senate after being tied to the world’s biggest banking scandal, involving HSBC, which used its power to temporarily shut down WND.com as the news site was breaking a series of stories on the mega-bank’s money-laundering practices – practices that resulted in more than $1.2 billion in fines

According to court papers filed Wednesday, Eric Holder’s Department of Justice appears to be stonewalling the release of documents that could implicate Lynch in a massive cover-up of Obama administration involvement in international money-laundering of Mexican cartel drug money.

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John Cruz in interview with WND’s Jerome Corsi

In 2012, Lynch, as the U.S. attorney for the Eastern District of New York, oversaw the investigation of drug-related international money laundering allegations against London-based HSBC Holdings LLC.

WND published a series articles documenting charges HSBC laundered billions of dollars that traced back to the Mexican drug cartels, culminating with a $1.256 billion fine paid to the U.S. government to end the investigation and avoid the filing of criminal charges.

The federal government’s unwillingness to prosecute HSBC was exposed by a former HSBC vice president and relationship manager in New York, John Cruz, who called the bank a “criminal enterprise.” Cruz was ignored by law enforcement authorities until he brought to WND 1,000 pages of customer account records that document his claims.

Cruz called the $1.92 billion fine the U.S. government imposed on HSBC “a joke” and filed a $10 million lawsuit for “retaliation and wrongful termination.” Whistleblowers in India and London joined Cruz in charging the HSBC settlement amounted to a massive cover-up.

In response to WND’s reporting of Cruz’s evidence, HSBC lodged a complaint that blocked Internet access to one of the WND stories, and senior reporter Jerome Corsi was fired by the New York City investment firm he had worked with for two years as a senior managing director, Gilford Securities.

WND also reported on evidence Holder’s Justice Department did not investigate money-laundering charges in deference to bank clients of his Washington-based law firm, where he was a partner prior to joining the Obama administration.

In addition, WND reported HSBC was engaged in a systematic scheme to defraud citizens of India who live abroad out of billions of dollars in investment accounts.

Written by JEROME R. CORSI
Read more at WND

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