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Reply #87: Israel Discount Bank, Hamilton Bank, and Alan Stanford [View All]

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starroute Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-18-09 02:25 PM
Response to Reply #59
87. Israel Discount Bank, Hamilton Bank, and Alan Stanford
When Miami's Hamilton Bank collapsed in 2002 amid allegations of fraud and money-laundering, half of its accounts were taken over by Israel Discount Bank. (The never-entirely-reliable Wayne Madsen claims that Hamilton had been involved in US-Israeli intelligence and money-laundering operations, but I've never been able to confirm that elsewhere.)

In 2004, the New York City branch of Israel Discount Bank was found to have been involved in Brazilian money-laundering -- in the Triple Border region -- amounting to $2.2 billion over 5 years.

Oddly enough, both Hamilton and Israel Discount were represented by Greenberg Traurig, which wound up having to pay the FDIC $7.6 million dollars for having helped Hamilton Bank cover up loan losses related to the Russian debt crisis of 1998. /

Former Greenberg Traurig attorney Carlos E. Loumiet was also charged in that Hamilton Bank case -- and Loumiet has an interesting history of association with Sir Alan Stanford. He was with Greenberg Traurig from 1988 until at least 1999, when he was described in a Washington Post story as Stanford's attorney. ( ) His name also shows up in a story from 2001, when Greenberg Traurig was representing Stanford Financial Group. ( )

Then in 2002 he is described in a campaign donation listing as an executive with the Stanford Financial Group, and since October 2002, he's been with the lobbying firm of Hunton & Williams, where his clients still include Stanford Financial.

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