Us Inquiry Into Bank of China Money Laundering Royal Bank of Scotland Calm Over Allegations About Partner
The Herald › September 09, 2005
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Summary
ROYAL Bank of Scotland yesterday shrugged off shocking revelations that Bank of China is under investigation by the US judicial authorities over allegations that it laundered money from North Korea's counterfeiting, drugs and weapons deals.
Edinburgh-based Royal Bank last month agreed to acquire a 5-per cent stake in Bank of China, which cost it almost GBP900m - in spite of concerns over human rights and corporate governance policies in the Far East giant.See the full content of this document
Extract
Us Inquiry Into Bank of China Money Laundering Royal Bank of Scotland Calm Over Allegations About Partner
Under the deal, Sir Fred Goodwin, chief executive of Royal Bank, will take a seat on the board of China's secondlargest bank.
Nonetheless, a spokesman for Royal Bank yesterday to...See the full content of this document
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