Senate Permanent Investigative Subcommittee Issues New Report Showing Extent of Use of Multiple Banks by Pinochet and Making Legislative Recommendations

On March 16, 2005, the Senate Permanent Subcommittee on Investigations of the Committee on Government Affairs issued a supplemental staff report on U.S. accounts used by Augusto Pinochet, uncovering a secret web of at least 125 bank and securities accounts at Riggs and other financial institutions operating in the United States that former Chilean President and his associates used to move millions of dollars. The report makes a number of recommendations for implementation and amendment of the USA Patriot Act. The new report supplements a year-long Subcommittee investigation that, in 2004, revealed the relationship between Riggs Bank and Pinochet...[more]