The unavoidable risk of doing business with Cuba’s criminally corrupt banking system

Because what could possibly go wrong if we were to pump billions of dollars through a banking system run by a drug-trafficking, money-laundering, terror-sponsoring criminal apartheid dictatorship?

Via Capitol Hill Cubans:

Why Cuba’s Shadowy Banking System Poses an Inherent Risk

Exhibit A of why the Obama Administration efforts to promote financial ties with Cuba’s shadowy, state-owned banks, is a bad idea — or simply mid-boggling.

As we’ve posted before, “Banks Are Right to Be Wary About Cuba Transactions.”

Moreover, it should raise red-flags among U.S. banking regulators.

By Kenneth Rijock in Caribbean News:

Cayman Islands fraudsters may have moved $450 million to Cuba

The first civil suit has been filed by one of the victims against the Cayman “Gang of Four”, Sharon Lexa Lamb and Dundee Merchant Bank, where Lamb was the senior vice president and director. One source, who is familiar with Caribbean fraud, has stated that most of the estimated $450 million to $500 million in stolen client money was probably moved to Cuba and that it was deposited in several of the government-controlled banks there.

In the absence of direct evidence to support such an allegation, the reasoning behind such a statement is based up these known facts:

(1) The Gang of Four’s maritime courier, the Cuban national José Fernandez Santana, has the ability to travel freely in and out of Cuban ports, to Grand Cayman, the Turks and Caicos Islands, and a number of other Caribbean financial centers. Unimpeded international travel by Cubans, especially in a multi-million dollar yacht, can only occur if the individual has governmental approval. If Santana is not an agent of Cuban intelligence, his yacht would certainly be seized, and he arrested and imprisoned.

(2) Sharon Lexa Lamb, the apparent ringleader of the Gang of Four, and who married Santana through a purely business arrangement that gives her Cuban residency as well as the right to purchase real property there, is frequent visitor to Cuba. As previously reported, Lamb fled to Cuba twice; first, when the trading scandal first broke, and later, when a civil suit was filed, and she was being sought for service of process.

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