Bank of America May Pay $25M Over Money Laundering

Law360 (February 21, 2006, 12:00 AM EST) -- Accused of complicity in Latin American money laundering, Bank of America Corp. is reportedly nearing a settlement with the U.S. District Attorney’s Office in a widespread investigation that has already roped in several major banks and yielded tens of million of dollars in fines.

New York County District Attorney Robert M. Morgenthau accused the bank of moving $2 billion held by a suspicious firm in Uruguay through banks in New York. The region is allegedly rife with corruption and is widely considered to be a hub...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.