SHOULD CONVICTED MONEY LAUNDERERS BE ALLOWED TO GO AFTER THE BANK WHERE THEY PLIED THEIR DARK TRADE, FOR COMPENSATION?

This story is going to open old wounds. Remember, MATTHIAS KRULL, the Swiss banker/money launderer who was instrumental in the illegal movement of $1.2bn out of Venezuela, and into Europe and South Florida? His ten year Federal Prison sentence, reduced, in an amazing turn of events, to 3.5 years, a sentence reduction amount basically unheard of in the annals of Federal Courts, and them, even more shocking, reduced again by the sentencing judge to Time Served, meaning that, if you do the math as i do, his net criminal sentence for moving more than a billion dollars was 1 year and three months! If you tried to write this as dramatic fiction, everyone in law enforcement would laugh you out the door, but a true story.

Sorry, it get even worse post-release. Now, German media is reporting that Krull has brought proceedings against his former employer, the same bank where he moved all those criminal proceeds through, JULIUS BAER GROUP LTD., and it foreign branches and subsidiaries, for compensation. He did so in Venezuela where as you know, the judiciary is not exactly known for adhering to the Rule of Law. the Labor Court there has awarded him $4.5 in damages, according to the reports. Of course, given the level of violence that often accompanies cooperation against other criminals, he may be more concerned about his future ability to recover, and spend, all this money.

Does this sound like justice was actually served? First, such a drastic reduction in his prison sentence does NOT operate as a deterrent, and it demonstrates that the Department of Justice keeps the public in the dark about convicted felons getting significant subsequent sentence reductions, but which actions do no go unnoticed in the criminal community. perhaps you, too can commit a lucrative crime, and only suffer a minimum sentence, by assisting the AUSA, and then sneak back to enjoy the fruits of your crimes, or just promptly reoffend, as you are now back in circulation. I once encountered, in a minimum security Federal Correctional Institution, who was only his sixth conviction.

Second, should any court, even in a jurisdiction that is a travesty of justice, like the ne in Venezuela, give the laundrymen a gift when they betrayed their trust, when they moved dirty money through the bank? Absolutely not. Mr. Krull's case may just convince aspiring money launderer that crime does, indeed, pay, and pay well. I rest my case.