A U.S. grand jury is weighing testimony about several current and former Rabobank Groep officials as the government seeks to tie alleged money-laundering lapses at the bank to specific individuals, according to people familiar with the matter.
Prosecutors in San Diego and Washington have interviewed Rabobank employees over the past few months about anti-money laundering controls at branches along the U.S.-Mexico border, bringing some of these past and current workers to testify before the grand jury about the actions of certain executives, said two people.
The U.S. Justice Department, having wrung large penalties out of other global banks for failing to comply with sanctions and money-laundering rules, has said it will prioritize holding high-ranking bankers responsible. Prosecutors have spent three years investigating whether Rabobank NA — the lender’s U.S. retail banking unit — ignored signs that Mexican drug cartel money was moving through the bank, and are now presenting evidence that could be used against the bank as well as some of its officials, said the people.
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