U.S. Unseals Criminal Charges against 4 Prominent Honduran Businessmen for Laundering Narcotics Proceeds and Designates a Bank for the First Time under the Kingpin Act

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Friday, October 23, 2015
Author: 
Bruce Zagaris
Volume: 
31
Issue: 
10
Abstract: 

On October 7, 2015, Preet Bharara, the U.S. Attorney for the Southern District of New York, and other law enforcement officials announced the unsealing of criminal charges against four Honduran bankers in connection with a multi-year scheme to launder the proceeds of narcotics trafficking offenses and foreign bribery offenses through accounts in the U.S. and the U.S. Department of Treasury’s Office of Foreign Assets Control announced the designation of three Honduran businessmen and seven businesses as Specially Designated Narcotics Traffickers pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act).