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Bank of Credit and Commerce International (view source)
Revision as of 06:27, November 7, 2016
, 06:27, November 7, 2016→Money laundering for Mena
====Money laundering for Mena====
====Money laundering for Mena====
One form of Stephens' laundry worked through front companies set up by bond broker [[Don Lasater]]. These companies would deposit cash in banks such as Stephens' Worthen Bank, which would not fill out reporting forms. In return for this service, the companies would be obligated to buy bonds issued by the ADFA, and underwritten by Stephens' investment bank Stephens Inc. Stephens would thus be compensated for the laundering service in the form of an investment banking fee.
:''Main article'' : [[Mena airport]]
One form of Stephens' laundry worked through front companies set up by bond broker [[Dan Lasater]]. These companies would deposit cash in banks such as Stephens' Worthen Bank, which would not fill out reporting forms. In return for this service, the companies would be obligated to buy bonds issued by the ADFA, and underwritten by Stephens' investment bank Stephens Inc. Stephens would thus be compensated for the laundering service in the form of an investment banking fee.
The money from the bond issue, meanwhile, would go back to the same front companies. That is, in effect the companies bought their own bonds and paid Stephens a fee for the service.
The money from the bond issue, meanwhile, would go back to the same front companies. That is, in effect the companies bought their own bonds and paid Stephens a fee for the service.