Vitter Pushes Whistleblower Claim of Cameron Ties to Deferred Prosecution of HSBC

Senator David Vitter (R-Louisiana) is pushing U.S. Attorney General nominee Loretta Lynch for more information regarding her involvement in a settlement agreement with HSBC.

A new report reveals that HSBC officers have not fulfilled the terms of their deferred prosecution agreement (DPA), which Lynch told the Senate could be grounds to take remedial action.


Vitter is asking Lynch about allegations that British Prime Minister David Cameron pushed the U.S. government against criminally prosecuting HSBC.

“In the course of her nomination process, Ms. Lynch has gone against her word on whether she would take action against these sorts of cases,” Vitter said. “And it has international implications – HSBC’s case is being traced all the way to Prime Minister Cameron. This empty threat sends a message to Wall Street and foreign governments alike that the Justice Department will turn a blind eye to non-compliance.”

In 2012, HSBC was charged with allowing a massive billion dollar money laundering scheme that involved Mexican drug cartels, international terrorist organizations, and state sponsors of terror like Iran.

As U.S. Attorney, Lynch allowed HSBC to reach an agreement that avoids prosecution, instead of immediately pursuing criminal charges.


Vitter has previously asked both Lynch and U.S. Attorney General Eric Holder for more information regarding this case.

During testimony for the record, Lynch stated that she would take remedial action if there was failure to comply with the DPA.

Vitter is asking Lynch about whistleblower allegations that Prime Minister Cameron urged President Obama not to pursue a criminal prosecution against HSBC for fear that it would result in HSBC losing its U.S. banking charter and would no longer be able to conduct business in the United States.

According to the White House, Prime Minister Cameron discussed banking issues with President Obama in a meeting on March 14, 2012.

Recent revelations brought to light Lynch’s role as the U.S. Attorney who allowed HSBC to settle instead of pursuing criminal charges.

HSBC was charged in 2012 with helping drug dealers launder money and with illegally completing transactions for clients in Iran, Libya, Syria and other countries under U.S. economic sanctions.

Vitter has been in touch with a different whistleblower who is a former HSBC employee.

HSBC entered into a settlement agreement for $1.26 billion and paid another $665 million in penalties.

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