Pinochet's frozen funds Riggs Bank

augusto pinochet, former dictator of chile, had been accused since 1973 of corruption, illegal arms sales, , torture. in 1994, riggs officials invited pinochet open account @ riggs bank. pinochet arrested in 1998 in britain possible extradition spain, , accounts ordered frozen court orders. recent u.s. senate report has revealed riggs executives helped pinochet disguise millions of dollars. using shell companies , hiding accounts federal regulators, riggs illegally allowed pinochet retain access of fortune.

the senate report indicated regulators negligent in holding bank accountable. although pinochet s accounts @ riggs had been reported in u.s. , british newspapers, , although these accounts largely unreported regulators, same regulators never made serious effort investigate. bank examiner office of comptroller of currency tasked investigating riggs in 2002, r. ashley lee, later given executive position @ riggs. in 2004, lee placed on paid leave bank pending justice department investigation on whether violated government ethics rules.

the disclosure of riggs accounts reignited case against general pinochet, , ruling not mentally competent stand trial overturned when proven general himself had orchestrated of huge transactions. in 2004, ordered stand trial crimes against humanity, , additional claims of mental , physical incompetence have been overruled. pinochet died, however, in december 2006 before being judged. however, in september 2007, pinochet s widow , 5 children indicted chilean court on charges including embezzlement.