President Donald Trump just unleashed a digital broadside against New York Attorney General Letitia James that has the internet buzzing.
Via a fiery post on Truth Social this Wednesday, Trump tore into James for allegedly turning a blind eye to a staggering $9.6 billion in sanctions violations by Standard Chartered Bank (SCB), as reported by The Gateway Pundit, while still renewing the bank’s state license, as Newsmax reports.
“She is a disgrace,” Trump declared on his platform, and frankly, it’s hard not to raise an eyebrow when a state official seems to shrug off whistleblower evidence of illicit dealings.
Trump’s critique sparks controversy
The Gateway Pundit’s report, which fueled Trump’s outrage, centers on a case before the U.S. Second Circuit involving SCB’s New York City branch. It claims the bank funneled at least $9.6 billion to entities tied to Iran and Hezbollah, based on internal trade records handed over by whistleblowers.
Even more eyebrow-raising, the report hints at a broader scheme, with over $100 billion in potentially illicit transfers possibly linked to SCB’s operations in China, facilitating dollar trades for oil and war materials. If true, this isn’t just a paperwork error — it’s a national security red flag.
Early in 2024, whistleblowers and terrorism finance experts briefed James and her senior staff, including Deputy Bureau Chief Scott Spiegelman, not once but twice on this explosive scheme. Yet, the response from her office? Crickets, followed by a renewed banking license for SCB.
License renewal raises questions
Let’s unpack that for a moment — James’ office green-lit SCB’s license despite these alleged payments never being disclosed in prior sanctions settlements. If you’re wondering how that slips through the cracks, you’re not alone.
Adding a twist to the tale, Scott Spiegelman, one of the briefed officials, later jumped ship to IBM, a company reportedly advising SCB on concealing trade data. Coincidence? Perhaps, but it smells like a conflict of interest from a mile away.
Meanwhile, The Gateway Pundit points out that both the Federal Reserve and SWIFT, the global payment system, failed to block these transactions despite knowing about Office of Foreign Assets Control (OFAC) sanctions. This isn’t just a bureaucratic oops—it undercuts the U.S. “Maximum Pressure” campaign against hostile regimes.
Calls for accountability grow
The Gateway Pundit isn’t mincing words, demanding federal prosecutors in D.C. and the Southern District of New York haul SCB to court for allegedly breaching its deferred prosecution agreement. It’s a fair ask when billions in illicit funds are at play.
The outlet also urged the Treasury to yank sanctions enforcement power from the Federal Reserve, arguing the current setup is a sieve. When oversight fails this spectacularly, shouldn’t someone rethink the playbook?
Oh, and the Gateway Punding isn’t stopping there — over $10 billion in penalties for SCB is on the outlet’s wishlist. If the allegations hold water, that kind of fine might just be the wake-up call the banking world needs.
What’s for James, SCB
For conservatives like myself, this story reeks of the kind of selective enforcement that’s become all too common with progressive agendas in blue states. When whistleblowers wave red flags about terror-linked transactions, ignoring them isn’t just negligence — it’s a betrayal of public trust.
Trump’s criticism of James may be sharp, but it’s a reminder that accountability isn’t optional, even for those in high office. Turns out, actions — or in this case, inaction — have consequences, and New Yorkers deserve answers on why SCB got a free pass.
As this scandal unfolds, the bigger question looms: will federal authorities step in where state oversight seemingly faltered? The public deserves transparency, especially when national security and billions of dollars are on the line.
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Author: Mae Slater
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