Combating Money Laundering: Round One
This chapter discusses the first two Levin-led investigations at PSI, both focused on money laundering. The first examines laundering money through U.S. banks catering to wealthy individuals. Using a Citibank Private Bank case study, the investigation profiles four world leaders or family members with millions in deposits: Raul Salinas, brother to the then President of Mexico; Omar Bongo, then President of Gabon; the sons of General Sani Abacha, the then recently deceased President of Nigeria; and Asif Ali Zardari, husband to former Pakistan Prime Minister Benazir Bhutto. The second, correspondent banking inquiry presents ten case studies of foreign banks using U.S. accounts to move suspect funds. The chapter culminates with enactment of Levin-led anti-money laundering legislation in the aftermath of the 9/11 terrorist attack.