House Republican Conference Chairwoman Elise Stefanik (R-NY) has taken a decisive step by formally asking U.S. Attorney General Pam Bondi to investigate the actions of New York Attorney General Letitia James. The call for scrutiny stems from allegations that James failed to take appropriate action after being informed of sanctions violations by Standard Chartered Bank (SCB), which involved illicit payments to entities linked to Iran and Hezbollah.
The issue at hand revolves around a staggering $9.6 billion in transactions processed by SCB's New York branch. These payments are said to have violated U.S. Treasury sanctions. Despite being briefed by whistleblowers and experts in terrorist financing, James reportedly did not implement any corrective measures. Furthermore, she is accused of renewing SCB's state banking license, allowing the bank to maintain operations without facing any penalties.
Stefanik's letter, fueled by a report from the Gateway Pundit, expresses concern over James' inaction and questions whether her decisions were influenced by coordination with the Biden administration. The letter also suggests appointing the Acting U.S. Attorney for the District of New Jersey as a Special Attorney to oversee the SCB case due to the bank's use of servers in Newark.
The gravity of these allegations is compounded by a separate federal investigation into James over potential mortgage fraud, adding to the scrutiny she faces. James has responded by dismissing the claims as baseless and politically motivated.
These controversies, including her civil lawsuit against the National Rifle Association and her civil fraud case against President Donald Trump, have brought James under the national spotlight. The connection between her deputy Scott Spiegleman and IBM, which is linked to SWIFT financial messaging and advised SCB, further complicates the matter and raises national security concerns.
The U.S. Second Circuit Court of Appeals is currently reviewing the allegations against James and SCB to decide whether the case should proceed or be dismissed. House Republicans underscore the potential national security implications of these investigations and demand federal authorities ensure accountability. Critics argue that James' handling of the SCB case, along with other legal actions, warrants thorough scrutiny and calls for unbiased enforcement of U.S. laws and sanctions.
