Sunday, March 24, 2013

#1455: Marine Links Cameron’s Dirty Fast & Furious Serco Banker to Front-Running Cyprus Fraud

Plum City – ( United States Marine Field McConnell has linked HSBC – the Cameron Family’s dirty Fast & Furious Serco banker – to front-running frauds on depositors of the Cyprus Popular Bank which major shareholder HSBC Holdings exited in 2006.

Marine Links Sister, Candyman Protégées to HSBC's Connecticut Nortel JABS 


Cyprus in last-ditch talks to avert meltdown

David Cameron and Vladimir Putin Hold Talks Over Cyprus Crisis 
PA | Posted: 22/03/2013 12:59 GMT | Updated: 22/03/2013 12:59 GMT 
Prime minister David Cameron discussed the financial crisis in Cyprus with Russian 

President Vladimir Putin in a phone call on Friday morning. 

The call came as authorities on the Mediterranean island sought to convince international lenders to provide the money Cyprus needs to avoid bankruptcy within days. 

Cypriot efforts to clinch a contribution from Moscow appear to have failed after Russia's finance minister was quoted as saying talks had broken down. The Kremlin has a significant interest in the situation, because Russian depositors are believed to have around £17 billion in Cypriot banks. 

Downing Street said that Mr Cameron and Mr Putin "agreed that they hoped a solution could be found to the crisis", but added that Cyprus took up only a small part of the 30-minute call, which also touched on Syria, the upcoming G8 and G20 summits in Northern Ireland and St Petersburg and BP's Arctic oil deal with Russian company Rosneft. 

Cypriot MPs are discussing plans to restructure the country's second largest lender, Laiki bank, as part of a plan to raise up to €5.8b (£4.9bn) to secure a larger rescue package of another €10bn (£8.5bn) from the other 16 eurozone nations and the International Monetary Fund. 

A new package is necessary after the parliament in Nicosia rejected a plan this week to grab up to 10% of bank deposits. Banks have remained closed for fear of queues of depositors withdrawing their savings. 

The UK government has said it will guarantee the savings of British Armed Forces personnel and civil servants posted to the island, and on Tuesday an RAF plane carried one million euros (£850,000) to Cyprus as a "contingency measure" for troops and their families in case cash machines stop working. 

Asked on Friday whether any help was being considered for other British nationals, a Downing Street spokesman said: "Obviously we understand that developments in Cyprus will be worrying for British nationals with savings in Cyprus. We would encourage British nationals who are experiencing difficulties to contact their bank." 

Anyone planning a holiday in Cyprus over Easter should keep in touch with Foreign Office advice, which is being kept under review, said the spokesman. 

After updated advice yesterday, the Foreign Office website does not caution against travel to Cyprus, but warns: "Cyprus is implementing measures to protect its banking sector. Check with your bank for further information. 

"The government of Cyprus has announced an extended bank closure. ATMs, debit and credit cards can be used as normal; however, while banks are closed, we advise taking sufficient euros to cover the duration of your stay, alongside appropriate security precautions against theft." The Downing Street spokesman said the UK regards the situation in Cyprus as "essentially a matter for the eurozone". 

He added: "The situation in Cyprus remains fluid, but it is in all of our interests that Cyprus tackles its difficulties and its banks are stable. 

"We will keep the situation under review."” 

Cyprus told: take bank levy or leave euro 
President, eurozone finance ministers and bailout troika hold emergency meeting as €100 limit imposed on ATM withdrawals 
Ian Traynor in Brussels 
The Guardian, Sunday 24 March 2013 21.11 GMT …. 

Wealthy Russians stand to lose billions of euros in Cypriot banks under draconian terms being hammered out on Sunday night in Brussels to prevent the Mediterranean tax haven becoming the first country forced out of the single currency. 

Negotiations got underway amid a hardening of the stance held by the International Monetary Fund and Germany, who insisted that depositors must take the hit for bailing out the eurozone's latest crisis economy. 

There were signs of panic in Cyprus as a €100 (£85) limit was imposed on ATM withdrawals, with more stringent capital controls to follow if a deal is reached. 

The European Central Bank has threatened to cut off funds propping up Cypriot banks on Monday, precipitating the island's exit from the euro if agreement was not reached on Sunday night at the emergency meeting between eurozone finance ministers, the president of Cyprus Nicos Anastasiades, and the bailout troika of the IMF, European Commission and the ECB. 

The Europeans, with the Germans and the IMF taking a particularly hard line, demanded the winding up of Cyprus Popular Bank, the country's second biggest, and the restructuring of Bank of Cyprus, the biggest financial institution.” 

“02 February 2006 Further to the announcement of 11 January 2006, HSBC Holdings plc has reached agreement for the sale of its 21.16 per cent shareholding in Cyprus Popular Bank Public Company Limited, for a consideration of approximately US$235 million in cash. The purchasers are: Marfin Financial Group, Tosca Fund and Laiki Bank (Nominees) Ltd. HSBC Holdings plc has been advised by its investment banking arm and Investment Bank of Greece S.A. acted for the purchasers on the transaction. Media enquiries to” 

HSBC pays record $1.9bn fine to settle US money-laundering accusations 
Bank guilty of 'blatant failure' to implement money-laundering controls and wilfully flouted sanctions, US prosecutors say …. 

HSBC was guilty of a "blatant failure" to implement anti-money laundering controls and wilfully flouted US sanctions, American prosecutors said, as the bank was forced to pay a record $1.9bn (£1.2bn) to settle allegations it allowed terrorists to move money around the financial system. 

Hours after the bank's chief executive, Stuart Gulliver, said he was "profoundly sorry" for the failures, assistant attorney general Lanny Breuer told a press conference in New York that Mexican drug traffickers deposited hundreds of thousands of dollars each day in HSBC accounts. At least $881m in drug trafficking money was laundered throughout the bank's accounts [some of which financed the Serco access cards used by Eric Holder and Kristine Marcy in Fast & Furious murder of ATF agent Brian Terry]

"HSBC is being held accountable for stunning failures of oversight – and worse," said Breuer, "that led the bank to permit narcotics traffickers and others to launder hundreds of millions of dollars through HSBC subsidiaries and to facilitate hundreds of millions more in transactions with sanctioned countries." 

In Mexico the bank "severely understaffed" its compliance department and failed to implement an anti-money laundering programme despite evidence of serious risks. A complex scheme known as the black market peso exchange (BMPE) was used to launder the cash."

More to follow.

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