Monthly Review
LOSSES & LAWSUITS
Riggs National Bank
Riggs National Bank, which previously pleaded guilty to money laundering charges, reached an unprecedented $8 million settlement with the Allende Foundation in Spain on February 25. The settlement related to Riggs' relationship with Chilean General Augusto Pinochet, who was also central to the US government's case against the Washington DC-based bank that specialised in banking services for diplomats. Riggs' chief executive, Robert Allbritton, and his father and controlling
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