CHARLOTTE, N.C., April 26 (UPI) -- U.S. investigators are looking into the role of Wachovia Corp. in an alleged money laundering scheme involving Mexican and Colombian drug money, officials said.
The Wall Street Journal reported Saturday the Charlotte, N.C., bank is just one of several U.S. banks under investigation.
The newspaper said Wachovia and the other banks severed ties with the Mexican foreign-exchange firms in December and January after inquiries began.
"Wachovia is committed to maintaining a strong anti-money-laundering program," said Wachovia spokeswoman Christy Phillips-Brown
Wachovia held deposits belonging to foreign-exchange houses and provided back-office services to the businesses known as casas de cambio.
Court papers show federal agents seized more than $11 million in 23 Wachovia accounts belonging to Casa de Cambio Puebla, a Mexican foreign exchange chain, alleging the money belonged to a drug cartel.
