Roseville-Based Bank To Pay Millions In Fines

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By Website on February 16, 2018.

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A Roseville-based bank has been ordered to pay more than $360 million in fines, after pleading guilty to conspiracy to defraud the U.S. Department of Justice.

Rabobank National Association, a Roseville subsidiary of a multinational Dutch bank, admitted that they allowed hundreds of millions of dollars in untraceable cash, from foreign countries mostly, to be deposited in rural bank branches in Imperial County between 2009 and 2012.

They also allowed that money to be transferred or used without notification to federal regulators as required by law.

When the Treasury Department started to examine Rabobank in early 2013, some of the company’s executives gave false and misleading information.