In business news, Robert Allbritton has resigned as chief executive and chairman of Riggs bank. Last week the bank announced it would set up an $8 million fund for the victims of former Chilean dictator Augusto Pinochet who used the bank to covertly transfer millions at a time when he was under investigation for war crimes. Last year 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.
Head of Riggs Bank Resigns
HeadlineMar 08, 2005