Business & Banking

Business & Banking

Argentina

Argentina?s Financial Woes Run Deep As if Argentina?s economic health was not bad enough, its financial system is enmeshed in an international money laundering scandal. The US Senate?s Permanent Subcommittee on Investigations has accused Banco República?s former president Raúl Moneta of laundering money through his Caribbean-incorporated Federal Bank. The subcommittee accused another Argentine bank, Mercado Abierto, owned by Argentine financiers and former government officials Miguel Iribarne, Aldo Luis Ducler and Hector Scasserra, of laundering drug money. Iribarne was the country?s undersecretary of economy, Scasserra served as director of the national development bank, wh

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