AG nominee in $1 billion Obama cover-up

Loretta Lynch played role in scandal leading back to White House

NEW YORK – New revelations are emerging that could implicate Loretta Lynch, President Obama’s attorney general nominee, in the world’s largest banking scandal.

As WND reported, Lynch, as the U.S. attorney for the Eastern District of New York, oversaw the investigation in 2012 of drug-related international money laundering allegations against London-based HSBC Holdings LLC.

As a result of HSBC agreeing to a settlement requiring the international bank holding company to pay the U.S. government more than $1.2 billion in fines for money laundering, Lynch’s office agreed in return not to press criminal charges against any bank employee of the U.S.-based HSBC subsidiary.

The federal government’s unwillingness to prosecute HSBC was exposed by a former HSBC vice president and relationship manager in New York, John Cruz, who called the bank a “criminal enterprise.” Cruz was ignored by law enforcement authorities until he brought to WND 1,000 pages of customer account records that document his claims.

HSBC also used its power to temporarily shut down WND.com as the news site was breaking a series of stories on the mega-bank’s money-laundering practices.

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