It is shocking that Bernie Ecclestone could offer a £100m payment to walk free of a massive bribery case for which he was clearly guilty. He admitted he had given an official a £44m bribe in order to head off an investigation into his tax affairs, but when this is rumbled he gets away with […]
Posts Tagged ‘Standard Chartered’
Ecclestone shouldn’t be able to bribe his way out of bribery – he should go to prison
Aug 12th, 2014 by Michael Meacher.
Banks’ money-laundering, rate-fixing, mis-selling will not be deterred by mere fines
Aug 17th, 2012 by Michael Meacher.So Standard Chartered gets away with hiding $250bn (£160bn) of Iranian funds in illegal transactions over nearly a decade by ‘agreeing’ to pay a fine of £340m (i.e. 0.13% of the money laundered). Another way of putting the fine in perspective is that it represents about 4% of the bank’s annual pre-tax profits (StanChart’s pre-tax profit […]
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From BCCI to Standard Chartered: a brief alternative history of investment banking
Aug 8th, 2012 by David Osler.The Bank of Credit and Commerce International, which collapsed in 1991, was not widely known as the Bank of Crooks and Cocaine International for nothing. True, the Bank of England was a bit sniffy about it, largely on account of its connections to the Middle East, and refused to grant BCCI full banking status. Neverthless, the regulatory authority […]
