{"id":6029,"date":"2016-09-08T10:01:07","date_gmt":"2016-09-08T15:01:07","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1056"},"modified":"2022-05-18T15:41:37","modified_gmt":"2022-05-18T20:41:37","slug":"us-considers-filing-criminal-c","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/us-considers-filing-criminal-c\/","title":{"rendered":"US Considers Filing Criminal Charge Against HSBC Holdings PLC Unit that May Void Deferred Prosecution Deal"},"content":{"rendered":"
\nThe deferred prosecution deal between a HSBC Holdings PLC (HSBC) unit and the US government is now at risk as prosecutors consider whether to file a criminal charge against the bank. It was in 2012 that the HSBC said it would pay $1.92B to resolve a money laundering investigation involving its top executives and lax oversight that allowed drug cartels and terrorists entry into the U.S. financial system. HSBC admitted that it did business with sanctioned countries, such as Iran, and helped Mexican drug cartels launder funds.<\/p>\n

As part of the deal to avoid prosecution, the bank agreed to retain an independent monitor to make sure that it complied with anti-money laundering requirements. HSBC is still on probation.<\/p>\n

Now, however, the Justice Department is looking into whether the bank has broken any U.S. laws since the deferred prosecution deal was put in place. That deal includes a section stating that HSBC could still be held responsible for its conducted related to the money laundering charges.\n<\/p><\/div>\n

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

The deferred prosecution deal between a HSBC Holdings PLC (HSBC) unit and the US government is now at risk as prosecutors consider whether to file a criminal charge against the bank. It was in 2012 that the HSBC said it would pay $1.92B to resolve a money laundering investigation involving its top executives and lax […]<\/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":[3740],"tags":[2940],"class_list":["post-6029","post","type-post","status-publish","format-standard","hentry","category-miscellaneous","tag-hsbc-holdings"],"yoast_head":"\nUS Considers Filing Criminal Charge Against HSBC Holdings PLC Unit that May Void Deferred Prosecution Deal — Investor Lawyers Blog — September 8, 2016<\/title>\n<meta name=\"description\" content=\"  The deferred prosecution deal between a HSBC Holdings PLC (HSBC) unit and the US government is now at risk as prosecutors consider whether to file — September 8, 2016\" \/>\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\/us-considers-filing-criminal-c\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"US Considers Filing Criminal Charge Against HSBC Holdings PLC Unit that May Void Deferred Prosecution Deal — Investor Lawyers Blog — September 8, 2016\" \/>\n<meta name=\"twitter:description\" content=\"  The deferred prosecution deal between a HSBC Holdings PLC (HSBC) unit and the US government is now at risk as prosecutors consider whether to file — September 8, 2016\" \/>\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":"US Considers Filing 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