The British Queen has been accused by Jacques Cheminade, a French presidential candidate, of profiting from drug money.
But now that the French Presidential election has arrived, the 6 day old news over allegations made by Cheminade regarding Her Majesty have fallen by the wayside but not before concern is raised by the regulatory body, the FSA (Financial Services Authority) over the practice of Coutts & Company, which is inextricably linked to the Queen’s finances.
In turn, Coutts have been fined £8.75 million (down from an original fine of £12.5 million due to an agreed early payment) for irregularities which include money laundering and not checking properly the sources of funds relating to high risk customers.
Also, information of an adverse nature already gathered or adverse information collation on high risk customers was not properly assessed or acted upon with sufficient satisfaction in order to adhere to the FSA regulations.
Coutts is famously called ‘The Queen’s Bank’ so the potential for drug money being laundered from criminal organisations through the bank and said money being of some profit to the Queen adds weight to speculation over Cheminade’s allegations.
However it would be very difficult on the given information to prove that the Queen herself benefited directly from any such transactions and Coutts themselves have said that they have found no evidence of money laundering through the bank.
Hardly a case of a bank being an exception in dodgy dealings when you consider the fact that a certain American bank has billions of pounds written off it’s tax bill in plain site of the British public undermining the morality of the entire banking system.
Now what kind of back handed shenanigans facilitated that?
Has the Queen benefited indirectly from drug money? The answer can only be yes but that applies to all of us when you consider the economic and political construct which we find ourselves living under and the corruption therein.