Opposing Digits

Internal documents from the UAE Central Bank in Dubai detail huge money laundering operations in the UAE according to financial industry insiders. Moreover, the Sharjah branch of HSBC Holdings PLC was tied to international arms trafficker Victor Bout, indicted in Belgium for money laundering and named in various UN reports as a chief embargo buster in Africa and Taliban-controlled Afghanistan.

American citizen Iqbal Hakim, a native of India, was the chief examiner for the UAE Central Bank. Hakim, yet another whistleblower who has been ignored and mistreated by the Bush administration and threatened by Bush's Persian Gulf potentate friends, discovered a suspicious $343 million per year money flow through an HSBC personal account in Dubai. The transactions were investigated by the FBI and the Bureau of Immigration and Customs Enforcement but no prosecutions resulted.

# posted by madthumbs @ 9:19 AM