Classic example of a PEP

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The former Guatemalan president is charged with money laundering in the U.S. Now you know why private banking and PEP’s are so important to pay attention to. Read this report from CNN: http://www.cnn.com/2010/CRIME/01/25/guatemala.ex.president/?hpt=Sbin

Bulk Cash Smuggling

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Here’s a link to a great article from the NY Times, 12/25/09, about bulk cash smuggling along the US – Mexico border.

Chicago Sports Webio “Ponzi Scheme”

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Mike North’s business partner in a new Internet sports-talk station in Chicago is a convicted felon who has filed for bankruptcy three times and now faces civil charges of running a Ponzi scheme.

Mayor Joseph Vas Pleads Guilty to Money Laundering

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PERTH AMBOY — The corruption investigation swirling around former Perth Amboy mayor Joseph Vas took another twist today when a former Vas aide pleaded guilty to accepting $25,000 from a major city developer and funneling the money into a congressional campaign.

TARP Investment Program

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The proposed governmental program allowing the purchase of toxic bank assets “presents an ideal opportunity” for criminals wishing to launder money, a U.S. watchdog agency said Tuesday.

Troubled Asset Relief Program (TARP)

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The Office of the Special Inspector General for the Troubled Asset Relief Program (“SIGTARP”) was created under the Emergency Economic Stabilization Act of 2008 (“EESA”) to conduct, supervise, and coordinate audits and investigations of the purchase, management, guaranty, and sale of assets under the TARP. More than $300 billion has already been expended, and Secretary Geithner has now outlined his plans for how Treasury will spend the balance of the $700 billion approved by Congress under EESA…”