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
G. David Thompson G. David Thompson George David Thompson (March 20, 1899 – June 26, 1965) was an American investment banker, industrialist, and modern art collector, based in Pittsburgh. He started as a banker, but by 1945 was running four steel mills. In 1959 Pittsburgh's Carnegie Museum of Art rejected his offer of over 600 artworks, unwilling to build a gallery bearing his name, and he gradually sold much of his collection, including 88 works by Paul Klee and 70 by Alberto Giacometti, although he left the Carnegie Museum over 100 artworks when he died in 1965. George David Thompson was born in