Calls from India and the UK join USA Whistleblower in calling for criminal prosecution of HSBC officers and directors for illegal money laundering — claim $2 billion fine is a cover-up, merely a “cost of doing business” for HSBC’s criminal activities.
In the wake of the $1.92 billion settlement HSBC reached with the Justice Department, banking experts and customers in India and London have joined U.S. whistleblower John Cruz in demanding criminal prosecution of top HSBC officers and directors globally.
Evidence suggests HSBC has pursued a policy of exploiting and defrauding customers in the developing world to supplement illegal profits obtained in the developed world by working money launderers, terrorists, organized criminals, corrupt public officials and others, as charged by the Senate Permanent Subcommittee on Investigations in a staff report issued at a public hearing July 17.
As WND reported Tuesday, Cruz, who exposed HSBC’s money laundering in February in a series of WND stories, 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.”
Significantly, the HSBC settlement with the Justice Department announced Tuesday allows all bank officers and directors who may have been aware of or participated in the alleged criminal banking activities to be free of criminal investigation and prosecution in exchange for HSBC agreeing to pay the $1.92 billion fine.
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