Greek Bank Fined a Record $8 Million:...

Greek Bank Fined a Record $8 Million: The National Mortgage Bank of Greece pleaded guilty in U.S. District Court in Brooklyn, N.Y., to 26 criminal counts, ranging from conspiracy to violating federal currency and banking regulations. The bank was charged with setting up a scheme from 1983 to 1989 in which it actively solicited cash deposits from Greek-Americans, with the promise that the deposits would be kept secret from the Internal Revenue Service. More than $700 million flowed through the bank’s coffers during those years, and at least $20 million was illegally laundered before officials closed down the operation.