-----Original Message----- From: [EMAIL PROTECTED] To: [EMAIL PROTECTED] Cc: [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED] Sent: Mon, 28 Apr 2008 7:54 pm Subject: It's the Underground Economy, Stupid Wachovia Is Under Scrutiny in Money-Laundering Probe, WSJ Says By Sylvia Wier http://www.bloomberg.com/apps/news?pid=20601087&sid=aEXJFxRheUEU&refer=home April 26 (Bloomberg) -- Wachovia Corp. is one of several U.S. banks under federal investigation as part of a probe of alleged drug-money laundering by Mexican and Colombian money- transfer companies, the Wall Street Journal reported, citing people familiar with the probe. The bank is talking with the U.S. Justice Department about a deferred-prosecution agreement that would require federal oversight of the Charlotte, North Carolina-based company's compliance system, the Journal said. ``Wachovia is not currently nor has it in the past engaged in those discussions,'' Wachovia spokeswoman Christy Phillips- Brown told Bloomberg News in a telephone interview. ``Wachovia doesn't comment on the status or existence of investigations. The bank is committed to a strong-anti-money-laundering program.'' The remittance industry transmits more than $50 billion from the U.S. to Latin America annually, the Journal said. Most of the money involves wages being sent to relatives, although drug traffickers may use the system to move proceeds from their U.S. narcotics sales. A Justice Department spokesman didn't immediately return a call from Bloomberg News seeking comment. ------------------- ? [Israeli]?choppers in service of drug cartel American officials demand Israel provide explanations for how U.S.-made choppers sold to Israel ended up in service of Columbian drug cartel. Incident may cloud relations between countries Itamar Eichner http://www.ynetnews.com/Ext/Comp/ArticleLayout/CdaArticlePrintPreview/1,2506,L-3166377,00.html Another diplomatic incident threatens to taint U.S.-Israeli relations: The American government has recently demanded Israel clarify how five U.S.-made helicopters sold to Israel in the mid-70s found their way into the hands of a Columbian drug cartel. ? Relations Tainted New confidence crisis with U.S.?/ Hanan Greenberg U.S. halts supply of electro-optical equipment to IDF after Israel did not report loss of hundreds of night vision devices defined as 'strategic weapons' Full Story An U.S. embassy official met with an Israeli foreign ministry official in Jerusalem several days ago, where he informed him that the American Foreign Ministry has requested the embassy to launch an investigation into the matter. ? According to American sources, the military copters currently serve the drug mafia in the South American country. ? Top diplomatic sources fear that this incident will once again heat-up tensions between Israel and the U.S. and cloud the strategic dialogue between the two countries, which is scheduled to renew in November, after talks were suspended for more than a year-and-a-half. ? Kosher deal went sour ? The dubious affair, which was already investigated by the Israeli Defense Ministry, and later turned over to the hands of the police, was uncovered about two years ago. ? Investigators revealed that the Defense Ministry signed a deal with an Israeli company three years ago, contracting it to negotiate the sale of five IAF helicopters for a sum of USD 100,000 per aircraft. ? The ministry permitted the choppers, of a MD 500 Defender model, be sold either to the Mexican federal police, or to the Spain firefighters department.? However, contrary to the terms of the license, the copters ended up in Columbia, by way of Canadian mediators. ? A Defense Ministry spokeswoman said in response that "after suspicions were raised that an illicit exchange took place, the ministry launched an initial investigation into the matter last year." ? "According to instructions of the chief prosecutor, the case was handed over to the police in 2004," she added. ? Sources at the Defense Ministry refused to comment on the matter. Need a new ride? Check out the largest site for U.S. used car listings at AOL Autos.
