Saratoga N.Y., - Today, House Leadership Chairwoman Elise Stefanik asked Attorney General Pam Bondi to investigate Standard Chartered Bank's illicit payments to known terrorists and New York Attorney General Tish James' inaction on the payments while approving bank licensure.
Chairwoman Stefanik wrote, "I am writing to you regarding the ongoing sanctions evasion case of Standard Chartered Bank. It has come to my attention that without further action this case will expire on Tuesday August 19th. Without further action on this case there is grave risk of additional funds being funneled to terrorist organizations that endanger the United States and the American people."
Stefanik continued, "As you know, Standard Chartered Bank made at least $9.6 billion in illicit payments to known terrorists. China has been using Standard Chartered Bank to purchase sanctioned Iranian oil. These payments were hidden from required disclosure under the current deferred prosecution agreement being supervised by the Southern District of New York and the U.S. Attorney for Washington D.C."
Stefanik said, "Alarmingly, public reports indicate that in 2024 New York’s Attorney General Letitia James and her top lieutenants were briefed by terrorist financing experts and whistleblowers about these payments. NYAG James not only did nothing about this but she then approved the bank’s annual license. NYAG James’ failure to act raises many concerning questions including what else did she know about these illicit payments and was she coordinating with the Biden Administration to ignore these payments."
Stefanik added, "Through reports from whistleblowers we also know that Standard Chartered Bank used servers based in Newark, New Jersey to execute these payments. Due to the immediate national security risks presented by Standard Chartered Bank’s activity and NYAG James’ failure to act I ask that you appoint the Acting U.S. Attorney for the District of New Jersey as Special Attorney to the Attorney General in charge of all matters involving Standard Chartered Bank."
Read the letter HERE.
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