SAINT KITTS CBI FRAUDSTER DAREN LI USED A U.S BANK UNDER CEASE AND DESIST FOR AML DEFICIENCIES

When the Chinese national DAREN LI was defrauding Americans out of millions of dollars, and laundering the proceeds of his organization's crimes through financial institutions from his base in Los Angeles, we was using his trusty Saint Kitts & Nevis Citizenship by Investment (CBI/CIP) passport as identification. The United States Attorney's Office in the Central District actually attached the SKN passport to the indictment, after first having redacted sufficient personal information from the document so as not to run afoul of Federal guidelines about disclosure of such details.

We know from the indictment that Li did, in truth and in fact, present what should have been a huge Red Flag, the SKN passport, to New Accounts staff at DELTEC BANK in the Bahamas, which tells you something about the effectiveness of that bank's compliance department. US law enforcement was able to seize a substantial amount of the criminal proceeds at Deltec, as we have previously reported in prior articles.

Now on to EVOLVE BANK AND TRUST, the other bank involved, and which is located in West Memphis, Arkansas. Look at the FRB Press Release, detailing the Cease & Desist Order for AML deficiencies, that bank management, and legal counsel, signed, earlier this year. Obviously, US regulators know that the bank had serious BSA problems for years, yet allowed it to operate without any enforcement action. the result was that a successful Chinese crew, supervised by Daren Li, was able to successfully clean their criminal proceeds. Did the compliance department at Evolve Bank accept the SKN passport? That important fact is curiously missing from the Li Indictment, and we certainly would like to know if an American compliance department accepted it as proof of identity, given the huge amount of information available, regarding how Kittitian passports are a favorite tool of Chinese white collar criminals. That is, if true, compliance malpractice; We trust that the terms of the C & D will be strictly enforced.