U.S. Appellate Court Affirms Laundering Conviction of Former American Express Bank Employee

On June 19, 1996, the United States Circuit Court for the Fifth Circuit affirmed the convictions of 18 counts of money laundering, bank fraud, misapplication of funds and conspiracy of Antonio Giraldi. The opinion indicates a tough standard for evaluating the duties of bank and financial institution officials and employees to "know their customer."...(more)