You turn to us for voices you won't hear anywhere else.

Sign up for Democracy Now!'s Daily Digest to get our latest headlines and stories delivered to your inbox every day.

Head of Riggs Bank Resigns

HeadlineMar 08, 2005

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.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top