WASHINGTON — Foreign dictators, high-living bureaucrats and arms dealers are still able to funnel millions of dollars in potentially corrupt money into the U.S. despite laws cracking down on money laundering, according to a Senate investigation.
The son of Equatorial Guinea’s president moved $110 million in suspect funds into the U.S. from 2004 to 2008, while an Angolan arms dealer, now in a French jail, was able to pay $9.6 million for an Arizona home in 2000 and maintained U.S. bank accounts handling about $60 million in transactions between 1999 and 2007, the report found.
The Senate Homeland Security Committee’s permanent subcommittee on investigations, which wrote the report, has summoned several U.S. lawyers, real estate agents and bankers involved in the transactions to a hearing today.
