Keeping Foreign Corruption Out of the United States: Four Case Histories

Permanent Subcommittee on Investigations

Thursday, February 4, 2010
09:30 AM
Dirksen Senate Office Building, room 342

The Permanent Subcommittee on Investigations has scheduled a hearing, ”Keeping Foreign Corruption Out of the United States: Four Case Histories,” on Thursday, February 4, 2010, at 9:30 a.m., in Room 342 of the Dirksen Senate Office Building.

The Subcommittee hearing will examine how some politically powerful foreign officials, their relatives, or close associates – referred to in international agreements as “Politically Exposed Persons” or PEPs – have used the services of U.S. professionals and U.S. financial institutions to bring millions of dollars in suspect funds into the United States to advance their interests. Four case histories will illustrate how some PEPs have used U.S. lawyers, realtors, escrow agents, lobbyists, bankers, and others to circumvent U.S. anti-money laundering and anti-corruption safeguards. It will also look at how some U.S. professionals have actively helped PEPs avoid bank scrutiny or facilitated suspect transactions with no questions asked.

The hearing will also examine whether U.S. policies and practices to combat foreign corruption and money laundering need strengthening. Witnesses will include government agencies, including the State Department, Immigration & Customs Enforcement (ICE), and Financial Crimes Enforcement Network (FinCEN), as well as lawyers, a realtor, and representatives of financial institutions.


Witnesses

Panel 1
• MICHAEL JAY BERGER
Attorney for Equatorial Guinea Cabinet Minister Teodoro Obiang Nguema Mangue
• GEORGE I. NAGLER
Attorney for Equatorial Guinea Cabinet Minister Teodoro Obiang Nguema Mangue
• JEFFREY C. BIRRELL
Registered Agent for the Republic of Gabon
The Grace Group

Panel 2
• NEAL BADDIN
Realtor for Equatorial Guinea Cabinet Minister Teodoro Obiang Nguema Mangue
• BRENDA K. COBB
Vice President
Insured Aircraft Title Service, Inc.
• WILLIAM J. FOX
Senior Vice-President and Global Anti-Money Laundering and Economic Sanctions Executive
Bank of America
• WIECHER H. MANDEMAKER
Director, General Compliance, Personal Financial Services, Anti-Money Laundering Compliance
HSBC Bank USA, N.A.
Panel 3
• THE HONORABLE DAVID T. JOHNSON
Assistant Secretary for International Narcotics and Law Enforcement Affairs
U. S. Department of State
• JANICE AYALA
Assistant Director, Office of Investigations
Immigration & Customs Enforcement (ICE)
• JAMES H. FREIS, JR.
Director
Financial Crimes Enforcement Network (FinCEN)



Fuente: Senate of USA

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