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
Lucky Thompson Lucky Thompson Eli "Lucky" Thompson (June 16, 1924 – July 30, 2005) was an American jazz tenor and soprano saxophonist. While John Coltrane usually receives the most credit for bringing the soprano saxophone out of obsolescence in the early 1960s, Thompson (along with Steve Lacy) embraced the instrument earlier than Coltrane. Thompson was born in Columbia, South Carolina, and moved to Detroit, Michigan, during his childhood. Thompson had to raise his siblings after his mother died, and he practiced saxophone fingerings on a broom handle before acquiring his first instrument. He joined Erskine Hawkins' band in 1942 upon graduating from