Funding Rape, Kidnapping, Beheading, and Genocide: Price Waterhouse Coopers Fined $25 M for Terrorist-State Money Laundering

Funding Rape, Kidnapping, Beheading, and Genocide: Price Waterhouse Coopers Fined $25 M for Terrorist-State Money Laundering August 18, 2014


Price Waterhouse Coopers has been fined $25 million for participating in a terrorist-funding money-laundering scheme with Japanese Bank of Tokyo-Mitsubishi.

Remember when I said that I didn’t think the Japanese were helping to fund ISIS/Boko Haram/Islamic Brotherhood/Hamas? Well, I was wrong. Ditto for the Europeans. And us.

It appears that Price Waterhouse Coopers and the Japanese Bank of Tokyo were working together to launder money for the people who are beheading babies and raping little old ladies in the Middle East. Meanwhile the French bank BNP Paribus got clipped for doing the same thing.

Investigations into Price Waterhouse Cooper money laundering involving terrorist states go back at least to 2003, when America was engaged in the war in Iraq and Afghanistan. However, the settlement and fine of August 18, 2014 is a new story.

Evidently, this money laundering these banks and accounting firms engaged in was with states that have been sanctioned for terrorist activities. It is not unreasonable to think that these monies were then circulated through terrorist networks. The prohibitions that Price Waterhouse Cooper, Japanese Bank of Tokyo-Mitsubishi and PNB Paribas violated by laundering money were with places like Iraq (remember we were at war with Iraq when the investigation against Price Waterhouse Cooper began) Sudan and Iran.

I don’t think it’s a big leap to think that this money may have ended up in the hands of active, murdering terrorists.

I wonder how much of this money found its way into the coffers of the people our troops have had to face in that part of the world? Where did the laundered money come from? Have these banks been helping to buy the bullets and the bombs that are used against American soldiers?

I do not think a fine is anywhere near enough punishment for this. These people belong in prison.

Greed may not be, as Gorden Gekko said, “good.” But he was certainly right when he said that it clarifies.

From the New York Post:

Auditing giant PriceWaterhouseCoopers is getting slapped with a $25 million fine for helping a Japanese bank launder money for terrorist states like Iran, Sudan and Myanmar.

New York’s top financial services regulator is putting the screws to PwC after it aided the Bank of Tokyo-Mitsubishi hide the true nature of the illegal transactions on a 2008 financial statement, according to a settlement between the auditor and state officials announced Monday.

A PwC board member, who is now a partner at the firm, was at the center of the scandal, The Post has learned.

PwC helped the leading Japanese bank hide its ties to the terrorist states by whitewashing the language in its audit report to make it less likely it would draw the attention of Ben Lawsky, superintendent of the New York Department of Financial Services, and other regulators, according to the settlement.

PwC is also suspended for two years from consulting.

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17 responses to “Funding Rape, Kidnapping, Beheading, and Genocide: Price Waterhouse Coopers Fined $25 M for Terrorist-State Money Laundering”

  1. They are only being fined $25 million? That is a drop in the bucket to a firm like that. How do they justify this horrible activity? IF I had any intentions of doing business with PwC, which I don’t, I’d not do it now for sure. As you mentioned, why isn’t anyone in jail for this?

  2. It’s a low fine and it’s not jail…but it’s not ISIS really.
    It should be prison. Iran is Shia and Isis is Sunni.
    Isis would love to see all humans in Iran dead. Sudan and Myanmar are probably Sunni but not mentioned in articles of Isis money which by the way is a million a day to 2 million from Iraqi oilfields….that’s $365 million yearly minimum…much sold through Turkey who needs to police it. And it has Syrian oil fields and extortion in every city it holds via taxes. They are really self sufficient even with losing donors just sanctioned by the UN Saturday.

  3. This is the firm that counts the ballots for the Oscars– I am thinking it might be time for the Academy to find a new one (not that it will actually happen– that would suggest that Hollywood has integrity).

  4. True. Money is the root of all evil…at least in some cases and this seems to be one of those times.

  5. Our system only works if people voluntarily follow the law. What we are seeing is a breakdown of society because the culture has lost its foundation in God.

  6. This was from 2008, though. It had nothing to do with ISIS. Only Iran and some other terrorist states.

  7. These people don’t belong in jail. They belong on a gallows for giving aid and comfort to the enemies of God in time of holy war.

  8. I wonder if Price Waterhouse will spin off a satellite “independent consulting” firm to circumvent the 2 year moratorium on consulting in the same way that Arthur Andersen spun off Accenture and kept right on doing what they have always done? What price your ethics, PWC?

  9. Fred, as nearly as I can tell, the investigation against Price Waterhouse Cooper concerning money laundering for terrorist states goes back to 2003. And yes, based on news reports, it did include Iraq and at a time when we were at war with Iraq and had troops on the ground. Again, based on news reports, it also included Sudan and Iran. Did/does it have anything directly to do with ISIS? I don’t know, but I imagine it does, at least indirectly and in some fashion. Money is like water … it flows. I added a few sentences to the post to clarify this since I guess I didn’t make it clear. Thanks for bringing that to my attention.

  10. I used to work for Arthur Andersen, a firm that was DESTROYED for doing far less than PWC has done. Pull their charter. A fine is not enough.