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Deferred Prosecution

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Corporations, Officers, and Citizens
Individuals and corporations are different from each other in the aspect of who they represent. To punish corporations in a manner, such as a death penalty, would have an effect on the business, shareholders, and employees. However, common sense says that corporations should just obey the law and shouldn’t be able to get a sweetheart deal just because they are a business and exposed to a completely different type of justice than individuals (Shearman & Sterling LLP, 2014).
With a first offence, there is usually a deferred prosecution, which permits a second change. There are times they could be repeat offenders, but it’s unlikely. Nevertheless, offenses that business commit are of a much more serious significance …show more content…
Mexican soldiers were waiting there to intercept the jet. Once secured, they seized 138 cases, valued over $100 million, each filled with 5.7 tons of cocaine. The biggest shock was the paper trail they discovered involving the purchase of the jet by the cartel (Vulliamy, 2011).
A 22 month investigation lead by the IRS, Drug Enforcement Administration, and others showed that cocaine smugglers purchased the jet using money laundered through a large US bank, Wachovia, now known as Wells Fargo. During the investigation, authorities discovered billions in cash shipments, wire transfers, and traveler’s checks that went into Wachovia accounts through Mexican exchanges. Upon this discovery, Wachovia was put under investigation for failure to sustain a successful anti-laundering program. A lot of concern was when it all began, which happened to coincide with the very first growth of violence on the US-Mexico border which provoked the drug war (Sullivan, Cromwell, King, & Spalding LLP, …show more content…
The money was used to purchase jets, in which four was seized along with 20,000kg of cocaine. These violations were on of the largest ever for the Bank Secrecy Act, which was created to control money laundering. Well Fargo purchased Wachovia Corp in late 2008 after everything was settled (Voreacos, 2010).
Jeffrey Sloman (2010) said "Wachovia's blatant disregard for our banking laws gave international cocaine cartels a virtual carte blanche to finance their operations". However the fines came out to less than 2% of their $12 billion profit for that year. The conclusion of the case showed only a tip to the iceberg, representing what the role of legal banking sectors cleaning out billions, which could be defined s blood money due to the murderous drug trade. In the end, being bailed out by taxpayers (Vulliamy,

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