U.S. Senate Permanent Investigation Subcommittee Continues Private Banking Hearings

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Saturday, January 1, 2000
Author: 
Bruce Zagaris
Volume: 
16
Issue: 
1
538
Abstract: 

On November 10, 1999, the U.S. Senate Permanent Subcommittee on Investigations held its second day of hearings on “Private Banking and Money Laundering: A Case Study of Opportunities and Vulnerabilities.”
Testifying was Antonio Giraldi, former First Vice President and Marketing Group Head for International Private Banking, American Express Bank, Beverly Hills, California. Mr. Giraldi was convicted of money laundering violations during his work at American Express bank.
Mr. Giraldi explained that international private banking (IPB) clients were motivated to establish their banking relationships for a variety of reasons, both legitimate and illegitimate…[more]