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U.S. Attorney General: “Mob threat to energy markets”

Posted April 24, 2008

Blogger’s Note: It’s not only hedge funds and pension funds who have discovered resources and energy as prime vehicles to create profit. Organized crime, too, appears to be tapping into this mother of all money-laundering machines. CNN featured this article on the subject matter. Could this be the opening shot of an orchestrated push by governments to break the funds’ stranglehold on energy supplies?

Baltimore — (TFN): Attorney General Michael Mukasey warned Wednesday that organized criminal networks have penetrated portions of the international energy market and tried to control energy resources.

In a speech at the Center for Strategic and International Studies in Washington, he said similar efforts have targeted the international financial system by injecting billions of illicit funds to try to corrupt financial service providers.

Mukasey then vowed to beef up U.S. efforts to fight international organized crime, which he called a growing threat to U.S. security and stability.


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