PayPal, American Express implicated in bank fraud

“I thought there was something really wrong here. For the amount of transactions I saw going through the account, there no evidence of any business taking place here – no packages, no envelopes, no files, no nothing – just an empty desk with nothing on it. There should have been something going on, and all I found was an Asian gentleman who didn’t speak English.”

A former employee of one of the world’s largest international banks who has provided WND with more than 1,000 pages of evidence alleges the Internet giant PayPal and American Express are implicated in an international money-laundering scheme involving hundreds of billions of dollars.

The whistleblower, John Cruz, was a relationship manager in the southern New York region for the London-based global bank HSBC.

“I found many accounts where PayPal and American Express were used as conduits through which hundreds of thousands of dollars were deposited or withdrawn from HSBC customer accounts in a pattern of suspicious transactions that should have been reported to legal authorities under various banking statutes, including the Patriot Act,” Cruz told WND.

Neither PayPal nor American Express responded to WND email and telephone requests for comment.

As WND reported, Cruz has a raft of customer account records he claims are evidence of an international money-laundering scheme by HSBC, which reportedly is under investigation by a U.S. Senate committee.

[…]

Original source.


Leave a Reply