Barclays altered books to hide payments from Iran, Sudan, Cuba, Myanmar

Barclays altered books to hide payments from Iran, Sudan, Cuba, Myanmar

w ww.theaustralian.com.au

BARCLAYS will pay $US298 million to settle charges that it cooked its books to hide vast amounts of money from US-sanctioned countries.

The UK bank admitted altering its books for more than 10 years to hide hundreds of millions of dollars from countries such as Cuba, Libya and Iran.

(visit the link for the full news article)

What I want to know is what companies was Barclays hiding money for.

The $331m settlement-agreement of criminal charges is an embarrassment for Barclays, which became a major player on Wall Street by snapping up the collapsed US operations of Lehman Brothers in 2008 and has been trying to burnish the UK bank's reputation on both sides of the Atlantic as a good corporate citizen.

Since when can you pay your way out of criminal charges?

Nice laundering operation. Maybe this explains where some of the seemingly untraceable unaccounted for trillions have gone. And they're probably not the only bank either.

Where is the Money?

Just unbelievable.



w ww.theaustralian.com.au
(visit the link for the full news article)

A video news story.

Update to this story

Judge Calls Barclays Pact 'Sweetheart Deal'

The judge's comments are the latest example of what some legal experts call a pattern of increasing displeasure from the bench about how the U.S. government is resolving investigations of major financial institutions.

[edit on 8/18/2010 by ~Lucidity]

Well, the government partners in crime are just that, partners.

Look at it this way, when was the last time a bank or major corporation has ever had anyone go to jail for these type things?

Without the protection and encouragement of the federal government, these type of things would NOT happen.

Let us take a look at the Barclay's campaign contributions shall we?

Ooooh, some interesting stuff here-www.campaignmoney.com...

Nevada State Democratic Party $210
Committee for Change $10,000
Delaware State Democratic Party $10,000
Obama Victory Fund $30,800

Hmmm, begs the question, has the government covered for Barclay and it's CEO?

Hmmm, wondering if the Democrats are going to ask any SERIOUS questions here?

Wow, take A LOOKY at this-group.barclays.com...

Barclays has been recognised all over the world for its achievements: from innovative products and exemplary people to charity work and sustainability initiatives.

Wow, where have I heard of Sustainability before? Is that not a globalist initiative?

What else can we find?

WOW! Check this search out!

www.campaignmoney.com...

$1,054,000 in contributions. Wow, lots and lots to democrats!

Do you maybe think that the banks OWN the democrats.

Kinda begs the question doesn't it, do you REALLY think the financial reform bill is going to stop these banks from benefitting from their elite status as too big to fail or is it just another SMOKE SCREEN?

Well, I dug up enough to prove that the Democrats are in the pocket of the bankers at Barclay, and are complicit in getting the banker's agenda through congress.

Hope those on the democrat side of the aisle will wake up and smell the coffee party bull#. One would only hope.

I think the term "US sanctioned countries" is the real issue here.

If the US wants to operate sanctions against another country, then they are free to do so, and stop US corporations from trading with them. But, what about other non-US entities? Why should they, if not US owned / based follow the dictate of the US government in recognising those sanctions, even if they do business in the US too?

Additionally, this has probably been known about for a loooooong time, just like BofA, Wachovia and HSBC laundering hundreds of $Billions over the years, proceeds from the global drug trade. There comes a time when they can hide it no longer, so they'll have a show trial where the banks get a slap on the wrist, pay a few $Million in fines and then it's back to buisness.

[edit on 18-8-2010 by Britguy]

reply to post by ~Lucidity


i presume the bank is a UK company?
why the hell is it paying the americans 298million just because that country has snactions on those countries.

looks more like a easy way for the americans to make quick cash.

this is one reason i cant wait for the US to fail and crash on its own economic termoil

Barclays - "Dang! You finally caught us after decade of money laundering to Cuba, Iran, and some other countries we couldn’t find on a map! How about instead of sending our top Executives and Accountants to one of those thingys that holds a bunch of bad people (prison), we just give you, umm.. I dunno lets say 10-20% of the cash we made over the last 10 years back. So, we can wash all of the red off of our golden hands for a second chance? After all we are a bank what did you expect? Do we have a deal?”

Prosecutors - “Whoa! Wait a second here! We don’t want that much moolah, just give us about 300 million U.S. and we'll call it a day. Done and done."

Is this the beginning of the U.S. Government’s probe into all of the European banks, or was that just for mainland Europe and not the U.K.?

I agree Britguy, they are U.S.-sanctioned countries, not world-sanctioned countries. The rest of the world doesn’t have to follow our rules, but you Brits are supposed to be our main ally/partner in crime. However, I am sure our bank’s books are probably more than altered and cooked. They are deep fried!

Anyway, I hope this doesn’t affect the Barclay’s Premier League in any way. After all it did just start!

[edit on 18-8-2010 by tooo many pills]

reply to post by saltheart foamfollower


Interesting stuff there. Let me ask you though...did you even look for the Republicans? I'd be interested in knowing.

Here's one clue to go on, from a nanosecond search...

www.campaignmoney.com...

Also interesting www.dailyfinance.com...

My point is, corruption doesn't stick to party lines. Okay?

[edit on 8/18/2010 by ~Lucidity]

reply to post by ~Lucidity


Funny thing is, the CEO, was supposedly a conservative back in the late 90's. I just did a search in the 08 election cycle.

Now, if one was to go back to previous years, would they find the Repubs? I am sure they would. Both parties are corrupt. Only a few honest out there. Can list them on one hand probably. RULE OF LAW, is the name of the game.

Yes, any and all links I searched for campaign financing I posted. I did not edit or leave any out.

Actually, I was hoping to find both parties. Give me a hand if you have a chance. I want those in both parties stopped that are destroying THIS sovereign country. We can teach the world by taking care of ourselves first and foremost.

Especially the CORRUPTION in our government. I follow it to the conclusion, not to a predetermined course.

Laters. Need to put on the feed sack.

This is also interesting...if it's still true or was ever true. This is right around the time that Halliburton was doing work in Iran despite the sanctions. Halliburton also worked with sanctioned N. Korea on nuclear development if I remember correctly.

Top Ten shareholders for Halliburton Company

reply to post by ~Lucidity


What does Halliburton have to do with Barclay?

Just wondering?

Also, as I stated, we have to rid the government of all corrupt individuals.

NO MATTER what party they are in.

heh , an iranian man gets jail and looses his money while a bank can pay its way off the hook for years of laundering,

theres a law for the rich and a law for the people like you and me..

reply to post by saltheart foamfollower


Remember the whole thing about them doing business with Iran when they weren't supposed to be? Huge investigation and all? lautenberg.senate.gov...


Pardon me for asking about the other party you seemed to be ignoring.

[edit on 8/18/2010 by ~Lucidity]