A Senate investigation has found that Riggs Bank courted business from former Chilean dictator Augusto Pinochet in 1996 and helped him hide up to $8 million while he was under house arrest in Britain. This according to a report in the Washington Post. The Post also reports the Senate Governmental Affairs Committee is probing 150 Saudi Arabian accounts as part of an investigation into terrorist funding. The revelation comes just months after the bank was forced to pay $25 million in penalties for violating money-laundering laws in dealing with the embassies of Saudi Arabia and Equatorial Guinea.
Riggs Bank Helped Pinochet Hide Millions
HeadlineJul 15, 2004