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Bahamas-based offshore bank in joint venture with 'gun dealer'
February 9, 2010
A Bahamas-based offshore bank held a 35 per cent equity interest in a joint venture with a "notorious arms dealer" in war-torn Angola, a US Senate committee report has revealed, while it and its Nassau-based affiliates provided account facilities to the same country's Central Bank to help it "avoid possible Mareva injunctions".
A report by the US Senate's Permanent Investigations subcommittee on how politically-connected Africans were able to access the US financial system, and use it to move millions of dollars in funds from questionable sources, also shone the spotlight on to the activities of the Bahamas-based subsidiaries of global banking giant, HSBC.
Original Posting At: TheTribune
A report by the US Senate's Permanent Investigations subcommittee on how politically-connected Africans were able to access the US financial system, and use it to move millions of dollars in funds from questionable sources, also shone the spotlight on to the activities of the Bahamas-based subsidiaries of global banking giant, HSBC.
Original Posting At: TheTribune
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