Chile Asks Banks in U.S. to Turn Over $40 Million Linked to Deceased Dictator

By Brian Monroe

At least four international banks with operations in the United States are in negotiations with the Chilean government to repatriate as much as $40 million tied to former dictator Augusto Pinochet, an attorney involved with the case confirmed Friday. Last week, the Chilean State Defense Council stated it was moving forward to reclaim funds from foreign banks, including Banco de Chile, Espirito Bank, Banco Santander and the now defunct Riggs Bank, according to a decree in the country's official gazette. Riggs collapsed in 2005, in part due to the disclosure that it had illegally handled Pinochet's accounts. Chile's defense council...