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
William G. Thompson William G. Thompson William G. Thompson (July 23, 1842 – July 20, 1904) was a Union Army officer, lawyer, politician, and the mayor of Detroit, Michigan. He also founded Detroit's first major league baseball team. William G. Thompson was born in Lancaster, Pennsylvania, on July 23, 1842. He was educated at Amherst College. In 1861, sparked to enlist by the Civil War, he joined the Fourth Pennsylvania Cavalry. When his enlistment was over, he moved at the request of his mother to Toledo, Ohio, but then enlisted in a lancer regiment there as a first lieutenant. He spent the winter