How The Government Set Up A Fake Bank To Launder Drug Money

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How The Government Set Up A Fake Bank To Launder Drug Money

How The Government Set Up A Fake Bank To Launder Drug Money – not HSBC :)

One day in the early 1990s, a man walked into the U.S. embassy in Ecuador. He said he had information somebody would want to hear — information on how to go after some of the most powerful drug traffickers in the world.

The man worked as a money changer. He said he was getting a lot of requests from traffickers who had a problem: They had so much cash that they didn’t know what to do with it. They couldn’t figure out how to launder their money.

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What they needed was an offshore bank to help them. On today’s show, we hear what happened when two U.S. agents — one IRS, one DEA — got the wild idea to create a fake offshore bank to catch drug traffickers.

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