>Riggs Bank yesterday admitted it was criminally liable for failing to take adequate measures to prevent potential money laundering by former Chilean dictator Augusto Pinochet and officials of Equatorial Guinea.
>Riggs pleaded guilty to one felony count of failing to file suspicious activity reports and agreed to a fine of $16 million. The fine, if approved by U.S. District Judge Ricardo M. Urbina on March 29, will bring to $41 million the total civil and criminal penalties paid by the 160-year-old bank to resolve anti-money-laundering deficiencies in its former embassy and international operations.
