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"Big
Six"
Accounting
Firm
Bought
Laundered
Currency
at
Discount,
US
Government
Says
6/5/98
According to a government affidavit filed in US District Court, executives with the Colombian office of Price Waterhouse, a prestigious US-based accounting firm, knowingly bought more than half a million dollars in discounted currency on the Colombian black market. That market exists as a mechanism of exchange for the billions of dollars in drug profits, primarily in US currency, illegally smuggled back into the country by traffickers and their agents. Reports indicate that US currency can be bought in Colombia at as much as a seventeen per cent discount to normal exchange rates. (See our Special Report on Colombia at http://www.drcnet.org/rapid/1998/3-27.html#colombia.) Investigators seized over $150,000 from the firm, but the AP reports that anonymous law enforcement sources told them that no criminal charges are being contemplated.
-- END --
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Issue #45, 6/5/98
DEA Holds Hearing on Use of Herbicide in Eradication | "Big Six" Accounting Firm Bought Laundered Currency at Discount, US Government Says | Man Whose Grandmother's Ashes Were Mistaken for Methamphetamine Suing for Wrongful Imprisonment | Proposed "Multinational Anti-Narcotics Base" in Panama Now Uncertain | US to Build Anti-Drug Military Training Center in Peru | Medical Necessity Defense Allowed in McWilliams Case | California Global Days | California Primaries Report | Hemp Update | Nominations Being Accepted for DPF Awards | Editorial: The UN, Making the World Safe for War
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