Forum Post: HSBC's Mexican Drug Money

A major new scandal has erupted around drug money laundering by the already infamous HSBC, formerly the Hongkong and Shanghai Banking Corp. According to a variety of news accounts, an officer of the New York branch of HSBC, John Cruz, amassed over 1,000 pages of evidence and more than 20 hours of taped conversations with other bank officials, showing that the bank was laundering massive amounts of money through dummy accounts, using fake Federal Tax ID numbers and other ruses. Cruz was an account manager from 2008-2010, when he was fired for attempting to force the bank to halt the money laundering scheme. He took his evidence to the Internal Revenue Service, the Department of Homeland Security and other Federal and state agencies, but no action was taken. Reportedly, at least two U.S. Attorneys' offices—in West Virginia and Florida—are now investigating the case, and the Senate Permanent Investigations Subcommittee is also reportedly probing the matter. A similar case of drug money laundering for the Mexican drug cartels was exposed several years ago out of the London offices of Wachovia Bank (now Wells Fargo). There, too, the whistleblower was fired.

Briefed on the HSBC case Monday, Lyndon LaRouche posed a crucial question: How much of the drug money was funneled into the 2008 Obama Presidential Campaign? LaRouche cited the pivotal role of British agent and dope legalizer George Soros in promoting the Obama Presidential run and financing it, noting that the Mexico-U.S. border area between Arizona and Texas was flooded with dope money, coming back into the United States, during the relevant period.