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Saturday, March 20, 2010

Wachovia Pays $160 Million to Stop Drugs Probe

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 that was used to buy cocaine-transporting aircraft.'

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