American Scammers and Hypocrisy

[VeeDubBigBird]

So In my professional experience I’ve came across a group linked to confirmed fraudulent activity in various nations around the world. The company although obviously fictional, is a registered business in America and has been for almost a year now. They’ve been involved in just about every type of finance based fraud around.

I’m used to dealing with similar cases but on this occasion the sheer scale and duration of the scams is astounding.

When speaking to a colleague I mentioned it probably wouldn’t be too long before they get shutdown now we have enough evidence against them with collaboration from several other banking institutes.

Turns out I’m wrong, from his experience the US are reluctant to chase any claims of fraud as long as it brings money into their banks. As a result America is slowly becoming a new haven for fraudsters.

I was never a big fan of America but with this blatant hypocrisy much like their numerous spying scandals, and illegal actions in foreign countries I am truly starting to despise them. Am I the only one ?

[VeeDubBigBird]

There was a case a few years back, with them fining and threatening an extradition order against employyes of a bank because the bank had arranged a foreign transfer from Iraninan Rial to US Dollars, the transaction didn't take place in american but because it was in USD and involved people they didn't like they went in heavy-handed and used a load of crap made up by american judges to try and excuse their actions in the case.

[VeeDubBigBird]

unrepentant said:

Yeah, they never go after their own........

Note the words "record" and "penalty".


http://www.usatoday.com/story/money/business/2014/...

Same story and note the details of the 'settlement' not 'prosecution'

Despite the settlement's breadth, Bank of America said it does not cover potential criminal claims or claims against individuals.

The deal requires the nation's second-largest bank to pay $9.65 billion.

The cash payment includes a $5.02 billion civil penalty to the Department of Justice.


So the Department of justice gets a huge chunk of the settlement for its own coffers and the bank suffers a 43% loss in shares for that quarter, and no actual charges raised so the bank can continue as normal. Now hold that in comparison to their actions and threats in other cases involving overseas institutes.