Sunday, July 26, 2026

Does USBank Regret BTIG?

 Well, isn't this embarrassing!

... As Bloomberg reported on July 14, Spanish National Police and Customs officers at the Mediterranean port of Algeciras intercepted a shipping container that had arrived from Ecuador, ostensibly carrying bananas for a fruit importer. Bricks of cocaine were hidden behind a screen of banana boxes. It amounted to the largest drug seizure in Spanish history and the second largest in a single container ever recorded in Europe....

The link has a lot more.  It's typical organized crime syndicate, complete with drugs, human trafficking, and money-laundering.

 ...Spanish investigators allege that proceeds from this operation were laundered through a sophisticated financial network spanning Europe, the Middle East, and the United States — a network authorities claim involved entities connected to financiers Ketan Seth and Francisco de Borbón. The two are reportedly linked to Blue Acquisition Corp., an AI-focused special-purpose acquisition company based in Newport Beach, California, that raised approximately $200 million from investors, with its IPO managed by investment bank BTIG. Retired U.S. General Wesley Clark is reported to have joined its board....

And sure enough, USBank purchased BTIG.  Not likely that USBank's due diligence officers even remotely thought or believed that their precious little acquisition was facilitating international drug-running, etc., but there you are.

Whoops!  Whoopsie!!  

1 comment:

  1. Ketan Seth and Francisco de Borbón ?

    Who are these winners?

    ReplyDelete