HSBC laundered drug money senate inquiry finds.

[Jan Klimkowski]

Pair hired to clean up Irish banks named in US scandal

THE Government faces huge embarrassment today after two key figures appointed to help clean up the Irish financial system were named in an explosive US investigation into global banking giant

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"The vast majority of the Iranian transactions, ranging from 75-90pc over the years, were sent through HBUS (the bank's US operation) and other US dollar accounts without disclosing any connection to Iran," the report states.
In an extraordinary revelation, the report says that when internal efforts were made to stop the practice, Mr Hodgkinson contacted Michael Geoghegan, now the top advisor on NAMA, asking for his "intervention and support".
The report says Mr Hodgkinson got his way, as the Middle East unit was given a free hand or "dispensation" that meant it was free to continue altering Iranian transactions until the end of 2004.

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Last night a spokeswoman for AIB said the bank had no concerns over the case.
"David Hodgkinson is not a person of interest in this inquiry. There is nothing for the bank to consider."
- Donal O'Donovan and Peter Flanagan
Irish Independent

Q: When is a crook not a crook?

Ans: When they're doing the bidding of the Crooks.