More connections between the Bush family and Saudi Arabia have emerged in the Riggs Bank scandal. Last week federal regulators fined Riggs Bank a record $25 million for “willful, systemic” violations of anti-money laundering laws in part due to the banks failure to monitor tens of millions of dollars in cash withdrawals from the Saudi Arabian embassy. Riggs Bank is headed by a longtime friend of President Bush’s, Joe Allbritton. The president’s uncle Jonathan Bush works as the CEO of the investment arm of Riggs Bank.
Bush-Connected Riggs Bank Fined For Saudi Dealings
HeadlineMay 18, 2004