ST. LOUIS • A 97-year-old St. Louis man who ran a jewelry repair shop downtown for decades after emigrating from Hungary believes Bank of America has cheated him out of more than $77,000 of his retirement money.
Karlo Tanko, a widower who lives in the city’s Boulevard Heights neighborhood, sued Bank of America on Friday in St. Louis Circuit Court, accusing his former branch at 6639 South Kingshighway of liquidating one of his savings accounts without his consent by forging his signature on a withdrawal slip.
Around the time his wife of 69 years died in June 2012, Tanko transferred five CD accounts from Bank of America to U.S. Bank, according to the lawsuit and his lawyer, Albert Watkins. Tanko soon realized he never received statements from one of accounts that held $77,477.51. He inquired with U.S. Bank and was told it was never transferred. At that point, he went back to Bank of America and was told the account didn’t exist.
Cash that flowed from Russia through a vast money-laundering network sometimes ended up passing through the world’s largest banks, with U.K. firms including HSBC Holdings Plc handling almost $740 million, the Guardian reported, citing a cache of financial records it reviewed.
The documents contain details of about 70,000 banking transactions, including 1,920 involving firms based in the U.K. and 373 in the U.S., the newspaper said. The records indicate at least $20 billion moved out of Russia between 2010 and 2014, and that some of it ended up at overseas banks. The flows are tied to a network dubbed the Global Laundromat, the subject of a 2014 report by the Organized Crime & Corruption Reporting Project, an investigative journalism group that provided some of the documents, the paper said.
HSBC handled $545 million of Laundromat cash, mostly routed through its Hong Kong branch, the Guardian said, without elaborating on the dealings.Royal Bank of Scotland Group Plc, majority owned by the U.K. government, processed $113 million, the paper said. Standard Chartered Plc, UBS Group AG, Citigroup Inc., Bank of America Corp., Barclays Plc and ING Groep NV handled amounts ranging from $2 million to $37 million, it said.
A very poor message to send to the shareholders when the bank is dealing with the ongoing sales scandal…
Florida’s Sawgrass Marriott Golf Resort & Spa offers the kinds of amenities you’d expect from a swanky venue overlooking the Atlantic coast: two championship golf courses, villas with private balconies, therapy baths and massage lessons.
It’s also where Wells Fargo will hold its annual meeting for shareholders next month, the San Francisco bank said in a regulatory filing last week. It will be the first such gathering since regulators fined Wells in September over its sales scandal.
But at a time when Wells is trying to move past the scandal, the choice of the Ponte Vedra Beach venue is sparking fresh criticism from shareholders already angered by revelations of its sales practices.
“This is an indication that the company didn’t assess the value of being more humble in light of the scandal and are asking shareholders to find a place to stay that is off the beaten path because they don’t want to be exposed to protesters,” said Sister Nora Nash, a nun with the Sisters of St. Francis of Philadelphia, which owns Wells Fargo shares.
“It’s a very poor public message of visibility at a time when the company should begin to display a new culture that it not insular,” she said.
Just 11 days before the U.S. presidential election, FBI Director James Comey wrote a letter to Congress letting them know that the agency had found additional emails that “appear to be pertinent” to its investigation of Hillary Clinton’s private email server.
It was extremely unusual for the bureau to be so forthcoming about an investigation, and the move drew harsh criticism from both Democrats and Republicans who accused Comey of deliberately trying to turn the election in Trump’s favor.
Ten days after the election, the FBI responded to a longstanding VICE News Freedom of Information Act lawsuit, revealing that the bureau may very well have been investigating Donald Trump, too.