Netflix have a new documentary series called Dirty Money. One of the programmes is about the HSBC money laundering scandal involving $881m. A sizeable amount of the money was drug money in Mexico. HSBC was fined $1.9m and prevented from owning a dog for 6 months.
From 2007 to 2014 164,000 people were killed in Mexico due to drug related crime. I'd prefer to call it murder. I don't know if any of my pension funds contain HSBC. I'll check.
AiY
Got a credit card? use our Credit Card & Finance Calculators
Thanks to gvonge,Shelford,GrahamPlatt,gpadsa,Steffers0, for Donating to support the site
HSBC
-
- Lemon Half
- Posts: 7383
- Joined: February 7th, 2017, 9:36 pm
- Has thanked: 10514 times
- Been thanked: 4659 times
-
- Lemon Half
- Posts: 9129
- Joined: November 4th, 2016, 1:16 pm
- Has thanked: 4140 times
- Been thanked: 10032 times
Re: HSBC
AsleepInYorkshire wrote:
HSBC was fined $1.9m and prevented from owning a dog for 6 months.
Did it have to sell all it's own shares that it held in treasury?
https://i.imgur.com/ekQpV59.gif
Cheers!
Itsallaguess
-
- Lemon Quarter
- Posts: 4891
- Joined: November 4th, 2016, 10:15 am
- Has thanked: 620 times
- Been thanked: 2725 times
Re: HSBC
AsleepInYorkshire wrote:Netflix have a new documentary series called Dirty Money. One of the programmes is about the HSBC money laundering scandal involving $881m. A sizeable amount of the money was drug money in Mexico. HSBC was fined $1.9m and prevented from owning a dog for 6 months.
From 2007 to 2014 164,000 people were killed in Mexico due to drug related crime. I'd prefer to call it murder. I don't know if any of my pension funds contain HSBC. I'll check.
AiY
Er, I think you are out by a factor of 1,000! It was $1.9 BILLION. They would not have noticed $1.9 million.
Thinking about it $1.9 billion isn't that large on the scale of bank penalties or write offs.
-
- Lemon Half
- Posts: 7814
- Joined: January 22nd, 2017, 2:29 pm
- Has thanked: 665 times
- Been thanked: 1289 times
Re: HSBC
AsleepInYorkshire wrote:Netflix have a new documentary series called Dirty Money. One of the programmes is about the HSBC money laundering scandal involving $881m.
The HSBC episode has been kicking around on Netflix forever, it's atleast 3 years old.
-
- The full Lemon
- Posts: 16629
- Joined: October 10th, 2017, 11:33 am
- Has thanked: 4343 times
- Been thanked: 7536 times
Re: HSBC
Yes this is sadly now ancient history. Apart from the large company fine, their CEO for Mexico was forced into early retirement (not that it seemed to do him any harm, financially or otherwise)
Dod
Dod
Return to “Catastrophe Corner”
Who is online
Users browsing this forum: No registered users and 3 guests