How The Government Set Up A Fake Bank To Launder Drug Money | Synopsis

How The Government Set Up A Fake Bank To Launder Drug Money

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Excerpt:

In the early 1990s, Colombian drug cartels had a problem: They had more money than they knew what to do with. “They were having a very difficult time with just the logistics of laundering millions and millions and millions of dollars every week,” says Skip Latson, who worked for the DEA at the time. So Latson and Bill Bruton, who was a special agent with the IRS, hatched a plan: They’d create a fake, offshore bank catering to the needs of the drug cartel. Latson and Bruton got their bosses to sign on. Soon, RHM Trust Bank was up and running on Anguilla, an island in the Caribbean. With the help of a South American informant, the bank started getting customers. The big Colombian cartels would send a fax saying they had cash in New York City or wherever.

People:

Skip Latson

Overall Sentiment: -0.0647935

Relevance: 0.91171

Sentiment Quote
-0.383875 “They were having a very difficult time with just the logistics of laundering millions and millions and millions of dollars every week,” says Skip Latson, …
0.0464621 “We picked up more information by being a bad bank who didn’t handle money quickly and effectively,” Latson says. …
Sentiment Stats:
  • Number of Quotes: 2
  • Aggregate Sentiment: -0.3374129
  • Mean: -0.16870645
  • Standard Deviation: 0

Bill Bruton

Overall Sentiment: -0.0335561

Relevance: 0.510269

Bill

Overall Sentiment: 0.621062

Relevance: 0.209306

Disambiguation: MilitaryPersonReferences:

Key:

  • Aggregate Sentiment is meant to be an indicator of an individual’s overall sentiment.
  • The Mean is meant to be an indicator of an individual’s average comment sentiment.
  • The Standard Deviation, when there are enough quotes, will indicate an individual’s consistency of sentiment (i.e. a Standard Deviation of 0 would mean they were very consistent in their sentiment and 1 would mean they were very inconsistent).

Note that quote stats are likely to be meaningless beyond the aggregate score due to the tiny sample size. However, they are always provided just in case you find something useful there.

Additional Info:

Company: RHM Trust Bank

Overall Sentiment: 0.124079

Relevance: 0.465778

Source URL: npr.org

Site Provided Keywords:

Webpage Provided Desc:

In the early 1990s, Colombian drug cartels had a problem: They had more money than they knew what to do with. So a pair of federal agents created an offshore bank.

Webpage Provided Title:

How The Government Set Up A Fake Bank To Launder Drug Money

~ by vandal3di3go on February 3, 2013.

 
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