G. Kennedy Thompson of court a case in which it allegedly laundered over $378 billion in cash and traveler's checks from Mexican drug cartels in the years 2004 - 2006, during Thompson's tenure as CEO. Terms of the settlement included a $110 million forfeiture and a $50 million fine. Thompson was pushed out of Wachovia Bank (WB) on June 2, 2008, as head of the nation’s fourth-largest bank, becoming the latest financial services executive to be ousted amid turmoil in the U.S. housing market. Thompson will not receive any incentive pay for the 2008 fiscal year, but according to a filing with the
W. G. Thompson W. G. Thompson William G. Thompson was an American educator, university administrator, and college football coach. Thompson attended Yale University. He served for fifteen years as the executive director of the Carlisle Indian Industrial School, school disciplinarian, and an instructor of business. He was also the school's first head football coach in 1893 and led the Indians to a 2–1 record. Thompson also coached the Carlisle baseball, basketball, and track teams for five years. From 1897 to 1907, he was in "practical charge of the athletics" at the school. In 1907, he left Carlisle to teach at Reading High School