Legislation & Lobbying
Senate Panel’s Money-Laundering Report Seeks More Lawyer Regulation
Posted Feb 3, 2010 8:52 PM CDT
By Martha Neil
A report released today by a Senate panel blames unregulated American lawyers, among others, for the nation's money-laundering problems, and calls for an attorney exemption from money-laundering restrictions under the Patriot Act to be repealed.
The report names names, contending that a well-known BigLaw firm helped an African politician purchase a $38.5 million Gulfstream G-5 Jet, and identifying two United States lawyers who, it says, helped the same individual circumvent bank controls by setting up shell corporations, the Times recounts.