Saturday, April 26, 2008

Wachovia caught in money-laundering probe

CHARLOTTE, N.C., (UPI) -- U.S. investigators are looking into the role of Wachovia Corp. in an alleged money laundering scheme involving Mexican and Colombian drug money, officials said.

The Wall Street Journal reported Saturday the Charlotte, N.C., bank is just one of several U.S. banks under investigation.

The newspaper said Wachovia and the other banks severed ties with the Mexican foreign-exchange firms in December and January after inquiries began.

"Wachovia is committed to maintaining a strong anti-money-laundering program," said Wachovia spokeswoman Christy Phillips-Brown

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