A Different Standard For The Banks When They Are Caught 'Money Laundering'

Photo: Syed Jan Sabawoon/USAID

Michael Daly, Daily Beast: Cartel Turned Drug Money Into Gold

After HSBC was caught laundering $881 million, the Sinaloa cartel turned to ‘Walt Disney.’ Now he faces 20 years in jail or losing his fingers.

After the mega-bank HSBC was caught laundering $881 million in narco-cash, the Sinaloa cartel began funneling a big chunk of its profits through a cash-for-gold-for-cash scheme whose alleged ringleaders include a fretful fellow with the alias “Walt Disney.”

Also known more familiarly as Don Walt, Carlos Parra-Pedroza and 31 others are said to have laundered more than $101 million in cartel bucks, in what the U.S. Attorney in Chicago terms a money-laundering organization (MLO).

And, unlike HSBC, Don Walt and his codefendants are most definitely not considered too big to jail.

WNU Editor: If you are prepared to do the crime .... be prepared to do the time. But for bankers .... it does look like they get a pass.