"According to the 5/14/04 New York Times, Federal regulators fined the Riggs National Corporation, the parent company of Riggs Bank, $25 million yesterday for "failing to report suspicious activity, the largest penalty ever assessed against a domestic bank in connection with money laundering. The fine stems from Riggs's failure over at least the last two years to actively monitor suspect financial transfers through Saudi Arabian accounts held by the bank."Rest of the story here.
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"According to the nonprofit Texans for Public Justice, Jonathan Bush is the President and CEO of Riggs Investment Management - a major arm of Riggs Bank. He is also the uncle of President George W. Bush."
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