structural:expansion, structural:scholar_edition
Tax fraud and foreign bank accounts

The U.S. Senate Permanent Subcommittee on Investigations released a report on 15 July 2004 concerning Riggs Bank, which had solicited Pinochet and controlled between US$4 million and US$8 million of his assets. According to the report, Riggs participated in money laundering for Pinochet, setting up offshore shell corporations (referring to Pinochet as only "a former public official"), and hiding his accounts from regulatory agencies. The report said the violations were "symptomatic of uneven and, at times, ineffective enforcement by all federal bank regulators, of bank compliance with their anti-money-laundering obligations". In 2006, Pinochet's total wealth was estimated to be at least $28 million.