On Tuesday, The Gateway Pundit reported on the Standard Charter Bank sanctions evasion case that is now in the US Second Circuit. Investigators found at least $9.6 billion of illegal payments by the bank to Iranian and Hezbollah entities.
The case implicates NYAG Letitia James and the Federal Reserve for ignoring billions of these illicit payments and ignoring Treasury sanctions designations. Maximum Pressure is not being enforced because of the failures of the Fed and the NYAG.
According to our sources, at least $9.6 billion of specifically identified illicit payments were made by Standard Charter Bank (SCB) from its NYC branch to OFAC and known terrorist names. The $9.6 billion was found in internal trade reports turned over by bank whistleblowers and represents the first batch from SCB Dubai office that cleared through SCB NYC. There are estimated over $100 billion more of illegal payments that are more recent and from SCB China where it has 53 mainland branches that facilitate dollar trade payments for oil and war-making materials.
On Tuesday we asked our readers to call the Southern District of New York and demand that this case be extended. The case was going to expire at midnight last night.
Thank you, The Gateway Pundit readers!
Thanks to all of you, this morning, we were informed that this incredibly important alleged fraud case was extended!
As you may recall from our report on Tuesday, these suspect payments were hidden by SCB from required disclosure in its ongoing Deferred Prosecution Agreement now under the jurisdiction of DCUSA Pirro and SDNY Clayton where both were briefed on SCB after their appointments. There are career blockers at each jurisdiction.
Involvement by the NYAG
In early 2024, NYAG was briefed by terrorist financing experts and the whistleblowers in detail on the illicit payments yet did nothing about it other than reapprove SCB annual license.
NYAG was briefed in two meetings in February and March 2024 about the $9,6 billion of illegal payments and did nothing but approve the annual renewal of SCB State banking license. One of meetings was recorded and clearly shows that NYAG officials recognized the payments were not previously known and not in prior SCB sanctions settlements. Five NYAG senior staff including Letitia James Deputy Scott Spiegleman were in all meetings. In late 2024, Spiegleman went to work for IBM which has a large tech contract running the SWIFT platform. IBM Promontory advised SCB to hide currency trade data.
Involvement by the Federal Reserve
The Fed, along with its wire operations platform SWIFT, failed to block the SCB payments to sanctioned names – ignoring the Treasury OFAC and SDGT lists. The COO of SWIFT, Cheri McGuire had been at SCB where she was directly involved in SCB hiding its currency trades. Cheri McGuire was approved by the Fed and is now COO of SWIFT – designated under Dodd-Frank as a Systematically Important Financial Market Utility quasi-regulated by the Fed. The Eastern District of Virginia USA is also considering investigation because SWIFT its US headquarters in VA.
With all oil trade required to be in $USD, China is using Standard Chartered Bank (“SCB”) and it’s NYC branch to buy Iranian oil in $USD. Maximum Pressure is being thwarted by a lack of enforcement by the Fed and the SWIFT system – each have ignored the Treasury sanction designations.
The SCB evasion case is a rare situation where inside whistleblowers turned over 40,000 emails that contained the currency trade records for several years. SCB attempted to hide 100% of their currency trades. The internal whistleblowers were fired and filed suit in a case now on appeal in the US Second Circuit. Obama and Biden career DOJ officials (John-David Barnea in SDNY, Gregg Maisell in DCUSA, and Matthew Komar FBI) have been blocking action on this case since 2024 because it was likely that news of $9.6 billion in specific evasion payments made by a NYC bank branch to known sanctioned terrorist and Iran linked entities would be embarrassing to a Biden campaign. Enforcing the sanctions laws on the currently known sanctions evasion payments in this case will yield the US more than $10 billion in settlements, while full investigation of the SCB China oil trade payments is likely to be a much higher amount of proceeds to the US. The exact same evidence of $9.6 billion of SCB illicit payments is the subject of a UK Royals Court investor suit that is going to trial.
We were informed this morning that thanks to The Gateway Pundit, the case was extended! Thank you all for making this happen!
Read the full article here