Keeping Foreign Corruption Out of the United States: Four Case Histories

The Permanent Subcommittee on Investigations has scheduled a hearing, “Keeping Foreign Corruption Out of the United States: Four Case… read more

The Permanent Subcommittee on Investigations has scheduled a hearing, “Keeping Foreign Corruption Out of the United States: Four Case Histories,” on Thursday, February 4, 2010, at 9:30 a.m., in Room 342 of the Dirksen Senate Office Building. 

The Subcommittee hearing will examine how some politically powerful foreign officials, their relatives, or close associates" referred to in international agreements as “Politically Exposed Persons” or PEPs" have used the services of U.S. professionals and U.S. financial institutions to bring millions of dollars in suspect funds into the United States to advance their interests. Four case histories will illustrate how some PEPs have used U.S. lawyers, realtors, escrow agents, lobbyists, bankers, and others to circumvent U.S. anti-money laundering and anti-corruption safeguards. It will also look at how some U.S. professionals have actively helped PEPs avoid bank scrutiny or facilitated suspect transactions with no questions asked. The hearing will also examine whether U.S. policies and practices to combat foreign corruption and money laundering need strengthening. Witnesses will include government agencies, including the State Department, Immigration & Customs Enforcement (ICE), and Financial Crimes Enforcement Network (FinCEN), as well as lawyers, a realtor, and representatives of financial institutions. 

A witness list will be available Tuesday, February 2, 2010.

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Member Statements

Senator Carl Levin index.cfm?FuseAction=Files.View&&FileStore_id=341b25da-5f57-4364-9276-b0d88fd9408a" target="_blankview statement

Senator Tom Coburn index.cfm?FuseAction=Files.View&&FileStore_id=7dcc7018-9270-481b-91ee-15d16f4c2c09" target="_blankview statement

Witnesses

Panel 1

MICHAEL JAY BERGER (No Prepared Remarks)

Attorney for Equatorial Guinea Cabinet Minister Teodoro Obiang Nguema Mangue

GEORGE I. NAGLER (No Prepared Remarks)

Attorney for Equatorial Guinea Cabinet Minister Teodoro Obiang Nguema Mangue

JEFFREY C. BIRRELL (No Prepared Remarks)

Registered Agent for the Republic of Gabon

The Grace Group

Panel 2

NEAL BADDIN

index.cfm?FuseAction=Files.View&FileStore_id=f220220e-36c0-4a8a-9496-7c3d4d2c628e

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Realtor for Equatorial Guinea Cabinet Minister Teodoro Obiang Nguema Mangue

BRENDA K. COBB

index.cfm?FuseAction=Files.View&FileStore_id=56c2fc8b-7e61-4f02-8b13-b92522307986

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Vice President

Insured Aircraft Title Service, Inc.

WILLIAM J. FOX

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Senior Vice-President and Global Anti-Money Laundering and Economic Sanctions Executive

Bank of America

WIECHER H. MANDEMAKER

index.cfm?FuseAction=Files.View&FileStore_id=efcda433-0e19-4b0a-93a7-3b54e363bf3d

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Director, General Compliance, Personal Financial Services, Anti-Money Laundering Compliance

HSBC Bank USA, N.A.

Panel 3

The Honorable David T. Johnson

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Assistant Secretary for International Narcotics and Law Enforcement Affairs

U. S. Department of State

JANICE AYALA

index.cfm?FuseAction=Files.View&FileStore_id=c72f4694-bf8d-415a-bddf-0e4229b20f62

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Assistant Director, Office of Investigations

Immigration & Customs Enforcement (ICE)

JAMES H. FREIS, JR.

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Director

Financial Crimes Enforcement Network (FinCEN) close

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Keeping Foreign Corruption Out of the United States: Four Case Histories

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Program ID:
13108-1
Category:
Senate Committee
Format:
Senate Committee
Location:
342, Dirksen Senate Office Building, Washington, District of Columbia, United States