Location: Room 342, Dirksen Senate Office Building
Open in New Window
The Permanent Subcommittee on Investigations hearing, "Keeping Foreign Corruption Out of the United States: Four Case Histories," examined how some politically powerful foreign officials, their relatives, or close associates – referred to in international agreements as “Politically Exposed Persons” or PEPs – have used the services of U.S. professionals and U.S. financial institutions to bring millions of dollars in suspect funds into the United States to advance their interests. Four case histories presented at the hearing illustrated how some PEPs have used U.S. lawyers, realtors, escrow agents, lobbyists, bankers, and others to circumvent U.S. anti-money laundering and anti-corruption safeguards. It also looked at how some U.S. professionals have actively helped PEPs avoid bank scrutiny or facilitated suspect transactions with no questions asked. The hearing also examined whether U.S. policies and practices to combat foreign corruption and money laundering need strengthening. Hearing witnesses included government agencies, including the State Department, Immigration & Customs Enforcement (ICE), and Financial Crimes Enforcement Network (FinCEN), as well as lawyers, a realtor, and representatives of financial institutions.
In conjunction with this hearing, the Subcommittee Staff issued a report entitled, "Keeping Foreign Corruption Out of the United States: Four Case Histories." The Report is available via the link located at the top left corner of this webpage.
MICHAEL JAY BERGER (No Prepared Remarks)Attorney for Equatorial Guinea Cabinet Minister Teodoro Obiang Nguema MangueBeverly Hills, CA
GEORGE I. NAGLER (No Prepared Remarks)Attorney for Equatorial Guinea Cabinet Minister Teodoro Obiang Nguema MangueBeverly Hills, CA
JEFFREY C. BIRRELL (No Prepared Remarks)Registered Agent for the Republic of GabonThe Grace GroupMcLean, VA
NEAL BADDINDownload Testimony (13k)Realtor for Equatorial Guinea Cabinet Minister Teodoro Obiang Nguema MangueWest Hollywood, CA
BRENDA K. COBBDownload Testimony (177k)Vice PresidentInsured Aircraft Title Service, Inc.Oklahoma City, OK
WILLIAM J. FOXDownload Testimony (90k)Senior Vice-President and Global Anti-Money Laundering and Economic Sanctions ExecutiveBank of AmericaCharlotte, NC
WIECHER H. MANDEMAKERDownload Testimony (161k)Director, General Compliance, Personal Financial Services, Anti-Money Laundering ComplianceHSBC Bank USA, N.A.Washington, DC
The Honorable David T. JohnsonDownload Testimony (34k)Assistant Secretary for International Narcotics and Law Enforcement AffairsU. S. Department of StateWashington, DC
JANICE AYALADownload Testimony (139k)Assistant Director, Office of InvestigationsImmigration & Customs Enforcement (ICE)Washington, DC
JAMES H. FREIS, JR.Download Testimony (131k)DirectorFinancial Crimes Enforcement Network (FinCEN)Vienna, VA