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Thursday, June 19, 2014

M&T Bank Must Forfeit $560K In Drug Proceeds

BALTIMORE (AP) -- A federal judge in Baltimore is ordering M&T Bank Corp. to forfeit $560,000 in drug money laundered through a branch in Perry Hall.

U.S. Attorney Rod Rosenstein announced the forfeiture Wednesday.

The judge found that the bank failed to file reports on at least eight currency transactions in which a teller converted proceeds from illegal drug sales from small denomination bills into $100 bills.

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2 comments:

  1. AnonymousJune 19, 2014 at 10:01 AM

    And where does the $560K go? To fighting the War on Drugs, no doubt.

    ReplyDelete
  2. AnonymousJune 19, 2014 at 12:13 PM

    Wells Fargo laundered TRILLIONS un drug money and got a slap on the wrist. Obviously, M&T is not one of the favored few.

    ReplyDelete

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