How the government set up a fake bank to launder drug money (2012)

Re:How the government set up a fake bank to launder drug mon... by et2o on Tuesday June 08, 2021 @11:49AM (#27436743)

This wasn’t “shady,” this was essentially a sting operation where they eventually seized 90 million dollars in cash and arrested over 100 people. Not bad. The bigger result was that it poisoned trust of banks by there kinds of criminals.

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Re:How the government set up a fake bank to launder drug mon... by croes on Tuesday June 08, 2021 @01:10PM (#27437909)

Professionals already have banks for that. 90 million dollars? These are small fishes. They only helped the bigger ones go get rid of the competition and the effect on drug trafficking is near zero.

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Re:How the government set up a fake bank to launder drug mon... by Quenty on Tuesday June 08, 2021 @02:09PM (#27438746)

From another perspective, consider it probably did not cost $90 million to execute this plan. So overall, this is a net profit, and most likely cost effective.

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Re:How the government set up a fake bank to launder drug mon... by croes on Tuesday June 08, 2021 @04:37PM (#27440446)

Was the plan to make profit or to reduce drug trafficking? Maybe they should reevaluate their goals.

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Re:How the government set up a fake bank to launder drug mon... by gscott on Tuesday June 08, 2021 @08:29PM (#27442820)

The agency that seizes the money gets to keep it.

This person had his motel all paid off. So the Government decided to size it because they could sell it. He fought them off, barely:

https://www.wbur.org/news/2012/11/14/tewksbury-motel-owner-f...

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Re:How the government set up a fake bank to launder drug mon... by rahilb on Tuesday June 08, 2021 @02:29PM (#27438991)

It was a top secret plan spanning multiple countries likely run by corrupt officials, I think it probably cost more than 90 million!

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