Wachovia paying $160M to settle case involving laundering of Mexican drug moneyBanking giant Wachovia Corp. will pay $160 million to settle a federal investigation into laundering of illegal drug profits through Mexican exchange houses in the largest case of its kind ever brought against a U.S. bank, prosecutors said ...

Wachovia has agreed to pay US prosecutors 160 million dollars for its failure to stop drug money being laundered to Mexican affiliates, the DEA said Wednesday. The embattled bank admitted it failed to stop an estimated 110 million dollars from being sent from the US to Mexico by wire transfer ...

MIAMI (Reuters) - The Wachovia Bank unit of Wells Fargo & Co has agreed to pay $160 million to settle U.S. allegations that it laundered Mexican drug money. Under the agreement, Wachovia will forfeit $110 million, representing the proceeds of illegal narcotics sales that were laundered through the bank, the ...

(Reuters) - The Wachovia Bank unit of Wells Fargo & Co <WFC.N> is in talks with the U.S. Justice Department to settle complaints relating to the alleged failure in bank controls that enabled Mexican exchange houses to launder drug money, the Wall Street Journal said, citing people ...