{"id":2079,"date":"2018-02-09T17:20:35","date_gmt":"2018-02-09T23:20:35","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=2079"},"modified":"2022-03-22T15:40:17","modified_gmt":"2022-03-22T20:40:17","slug":"securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/","title":{"rendered":"Securities Firm News: Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud"},"content":{"rendered":"

Rabobank NA Admits to Anti-Money Laundering Deficiencies, Will Pay Nearly $369M<\/strong><\/h2>\n

Rabobank National Association, a subsidiary of Rabobank UA (RABO), has pleaded guilty to felony conspiracy for obstructing the Department of the Treasury’s Office of the Comptroller of the Currency’s examination of the bank while hiding that its anti-money laundering program had certain deficiencies. Now, the firm will pay almost $369M for not preventing illicit funds from going through the bank.<\/p>\n

With its guilty plea, Rabobank is admitting that it conspired with a number of its ex-executives to try defrauding the US by “unlawfully impeding” the OCC’s efforts to regulate the California subsidiary, including obstruction of an OCC examination of the bank’s branches throughout the state. Rabobank acknowledged that because of deficiencies in its AML program, the bank made it possible for hundreds of millions of dollars from Mexico and other places to be deposited in its rural bank branches and then allowed to money to move via checks, wire transfers, and withdrawals. Federal regulators were not notified even though they should have been.<\/p>\n

During a 2012 OCC examination, Rabobank executives purposely tried to “hide and minimize” its AML program deficiencies so as to avoid new sanctions. Rabobank was already sanctioned in ’06 and ’08 for failures that were “nearly identical” to the ones at issue now. Late last year, ex-Rabobank VP George Martin reached a deferred prosecution deal with the US government for aiding and abetting the bank in not having an AML program that met Bank Secrecy Act requirements.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Rabobank NA Admits to Anti-Money Laundering Deficiencies, Will Pay Nearly $369M Rabobank National Association, a subsidiary of Rabobank UA (RABO), has pleaded guilty to felony conspiracy for obstructing the Department of the Treasury’s Office of the Comptroller of the Currency’s examination of the bank while hiding that its anti-money laundering program had certain deficiencies. Now, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3741],"tags":[2851,2954,2807],"class_list":["post-2079","post","type-post","status-publish","format-standard","hentry","category-securities-fraud","tag-rabobank","tag-securities-news","tag-sterne-agee"],"yoast_head":"\nSecurities Firm News: Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud | SSEK Law Firm Blog<\/title>\n<meta name=\"description\" content=\"Securities Firm News About Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud. Read more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Firm News: Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud | SSEK Law Firm Blog\" \/>\n<meta name=\"twitter:description\" content=\"Securities Firm News About Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud. Read more.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Securities Firm News: Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud | SSEK Law Firm Blog","description":"Securities Firm News About Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud. Read more.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/","twitter_card":"summary_large_image","twitter_title":"Securities Firm News: Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud | SSEK Law Firm Blog","twitter_description":"Securities Firm News About Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud. Read more.","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Securities Firm News: Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud","datePublished":"2018-02-09T23:20:35+00:00","dateModified":"2022-03-22T20:40:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/"},"wordCount":713,"keywords":["Rabobank","Securities News","Sterne Agee"],"articleSection":["Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/","url":"https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/","name":"Securities Firm News: Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud | SSEK Law Firm Blog","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2018-02-09T23:20:35+00:00","dateModified":"2022-03-22T20:40:17+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Securities Firm News About Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud. Read more.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-firm-news-rabobank-na-pay-almost-369m-pleading-guilty-felony-conspiracy-alabama-supreme-court-says-lawsuit-sterne-agee-can-proceed-maryland-wealth-management-fir\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Securities Firm News: Rabobank NA to Pay Almost $369M After Pleading Guilty to Felony Conspiracy, Alabama Supreme Court Says Lawsuit Against Sterne Agee Can Proceed, and Maryland Wealth Management Firm is Accused of Fraud"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-xx","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/2079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=2079"}],"version-history":[{"count":5,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/2079\/revisions"}],"predecessor-version":[{"id":25276,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/2079\/revisions\/25276"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=2079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=2079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=2079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}