The CEO of the US bank accused of “scheming” with Iran to dodge economic sanctions is a top executive at the Department for Health. Peter Sands was appointed lead non-executive director at DH by, erm, Andrew Lansley last year.

Sands served as CEO of Standard Chartered bank from 2006, which overlapped with the 2001-2010 period in which New York State’s Department of Finance has claimed that the bank “schemed with the government of Iran and hid from regulators roughly 60,000 secret transactions, involving at least $250bn

The episode is redolent of the scandal surrounging trade minister and former HSBC boss Lord Green, whose bank was similarly chastised by US authorities after allowing drug cartels to launder money. It seems that former Labour trade minister Lord Mervyn Davies was also a key player at Standard Chartered, during the relevant period.

The Department of Health website says of Sands:

“During Peter’s tenure as CEO, Standard Chartered has successfully navigated the financial crisis without any recourse to Government support”

Would $250bn of Iranian transactions count as “government support”?

  1. I’m glad standard chartered did this. Iran poses zero threat to the world. A made up threat for the “pax americana” war machine, and those devious little neo-cons.

  2. Dear Michael,
    although it’s clear that the Iran Nuclear program is a result of a very basic read on US foreign Policy, i.e. India, China, Pakistan now get to do what the fuck they like, North Korea gets a pass as well, ergo, get a bomb, you avoid getting bombed by the USAF.
    However if you think Iran should be admired simply because they oppose the US or that the world will some how be a better place if Iran has an Nuclear weapon, you clearly too stupid to cross roads unsupervised.

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