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HSBC Hit With $1.92B Settlement Over Money Laundering

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  • Description

    FBN's Adam Shapiro on HSBC money-laundering charges.

  • Duration 1:20
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We have more on that HSBC news conference that shareholders are getting -- for one point nine billion bucks paid the Fed's.

But -- these senior -- paying any price at all let's go back to Adam Shapiro.

-- that's an important question we just had Lanny brewer the assisting US attorney general actually saying that executives at HSBC instructed.

Criminal entities in places like Iran.

How to break the law all.

Not one person from HSBC not one of those individuals in their compliance office.

Will be prosecuted and HSBC.

Which says in their statement and keeps getting repeated at this press conference.

Which says they are clawing back bonuses from those individuals I asked the bank.

How many individuals how much claw back and here's what they said quote.

We're not providing details beyond those included in our statement I would emphasize that.

This is not about certain individuals yet you have the DOJ saying people at the bank.

Instructed criminal entities in places like Iran and Libya Sudan Burma Mexico.

How to break the law and nobody from HSBC will ever be prosecuted and their shareholders.

Get left holding the back.

Back to you and that's the case and so many of these big government -- it's almost like prosecutions turning into a fund raising arm thank you very much Adam Shapiro.

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