United States Senate
PERMANENT SUBCOMMITTEE ON INVESTIGATIONS
Committee on Homeland Security and Governmental Affairs**
Carl Levin, ChairmanTom Coburn, Ranking Minority Member
KEEPING FOREIGN CORRUPTION OUTOF THE UNITED STATES:FOUR CASE HISTORIES
MAJORITY AND MINORITYSTAFF REPORT
PERMANENT SUBCOMMITTEEON INVESTIGATIONSUNITED STATES SENATE
RELEASED IN CONJUNCTION WITH THEPERMANENT SUBCOMMITTEE ON INVESTIGATIONSFEBRUARY 4, 2010 HEARING
SENATOR CARL LEVINChairmanSENATOR TOM COBURN, M.D.Ranking Minority MemberPERMANENT SUBCOMMITTEE ON INVESTIGATIONS
ELISE J. BEANStaff Director and Chief CounselROBERT L. ROACHCounsel & Chief InvestigatorLAURA E. STUBERCounselADAM K. PARKSICE DetaileeJASON E. MEDICAICE DetaileeADAM HENDERSONProfessional Staff MemberROBERT KAPLANInternCHRISTOPHER J. BARKLEYStaff Director to the MinorityJUSTIN J. ROODSenior Investigator to the MinorityMARY D. ROBERTSONChief Clerk
2/2/10
Permanent Subcommittee on Investigations
199 Russell Senate Office Building – Washington, D.C. 20510Main Number: 202/224-9505Web Address: www.hsgac.senate.gov [Follow Link to “
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KEEPING FOREIGN CORRUPTION OUTOF THE UNITED STATES: FOUR CASE HISTORIESTABLE OF CONTENTS
I.EXECUTIVE SUMMARY
.................................................. 1A.Findings . . . . . . . . ........................................................ 5(1)Lawyers............................................................ 5(2)Realtors............................................................ 5(3)Escrow Agents....................................................... 5(4)Lobbyist............................................................ 5(5)Offshore Corporations................................................. 5(6)University.......................................................... 5(7)Personal Accounts.................................................... 5(8)Government Accounts................................................. 5(9)Correspondent Accounts............................................... 6(10) Vendor PEP Lists.................................................... 6B.Recommendations........................................................ 6(1)World Bank PEP Recommendations...................................... 6(2) Real Estate and Escrow Agent Exemptions................................ 6(3) Attorney-Client and Law Office Accounts................................. 6(4) U.S. Shell Corporations............................................... 6(5) Immigration Restriction............................................... 6(6) Visa Restriction..................................................... 6(7) Professional Guidelines............................................... 7(8)FATF Recommendations............................................... 7
II.FOREIGN CORRUPTION AND MONEY LAUNDERING
....................... 8
III.OBIANG CASE STUDY: USING U.S. LAWYERS, REAL ESTATE AND ESCROWAGENTS, AND WIRE TRANSFER SYSTEMS TO BRING SUSPECT FUNDSINTO THE UNITED STATES
............................................... 16A.Background. . ........................................................... 19B.Obiang Use of Attorneys To Bring Suspect Funds Into the United States............. 27(1)Attorney Michael J. Berger............................................. 27(a)Incorporating Shell Companies and Paying Bills........................ 28(b)Bringing In and Moving Suspect Funds................................ 29i.Union Bank of California........................................ 31ii.Bank of America.............................................. 36iii.Citibank ..................................................... 44iv.PayPal....................................................... 46(c)Compensation................................................... 47(2)Attorney George I. Nagler.............................................. 48(a)Incorporating Shell Companies...................................... 49
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KEEPING FOREIGN CORRUPTION OUT OF THE UNITED STATES: FOUR CASE HISTORIES
KEEPING FOREIGN CORRUPTION OUT
OF THE UNITED STATES:
FOUR CASE HISTORIES
MAJORITY AND MINORITY
STAFF REPORT
PERMANENT SUBCOMMITTEE
ON INVESTIGATIONS
UNITED STATES SENATE
OF THE UNITED STATES:
FOUR CASE HISTORIES
MAJORITY AND MINORITY
STAFF REPORT
PERMANENT SUBCOMMITTEE
ON INVESTIGATIONS
UNITED STATES SENATE
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