wachovia

Wachovia online banking down

Wachovia online banking is down since a few hours and people are not really satisfied with this, several reports on Twitter confirm the situation. This in not the first time Wachovia is in the buzz.

This is the entity that during the crisis was rescued by Wells Fargo. Agreed to pay $ 160 million to the U.S. government to defer prosecution for allegedly laundering money to promote a drug cartel in Mexico Wachovia agreed to pay the US government $ 160 million to defer prosecution for allegedly encouraging money laundering Mexican drug cartels, today announced the U.S. Justice Department.

The government agreed to defer prosecution in exchange for 12 months and drop the charges if Wachovia, now a subsidiary of Wells Fargo & Co, during that time cooperating in the investigation, said the Justice Department.

Wachovia accused U.S. prosecutors of “willfully failing to establish a program to combat money laundering” between May 2003 and June 2008.