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Rabobank to pay $368.7M for laundering Mexico drug money

Jaclyn Jaeger | February 8, 2018

The U.S. subsidiary of Rabobank pleaded guilty this week to a felony conspiracy charge for impairing, impeding, and obstructing a government investigation by concealing deficiencies in its anti-money laundering program.

Rabobank National Association appeared on Feb. 7 before U.S. Magistrate Judge Jill Burkhardt. It will forfeit $368.7 million for allowing illicit funds to be processed through the bank without adequate Bank Secrecy Act or AML review. 

At the hearing, Rabobank pleaded guilty to conspiracy to defraud the United States and to corruptly obstruct an examination of a financial institution. In pleading guilty, Rabobank admitted to conspiring with several former executives to defraud the United States by unlawfully impeding the Department of the Treasury’s Office of the Comptroller of the Currency’s ability to regulate the bank, and to obstruct an examination by...

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