FedEx Faces Money Laundering Charge

    SAN FRANCISCO, CA - JUNE 19:  A pedestrian walks by a FedEx delivery truck on June 19, 2013 in San Francisco, California.  FedEx, the world's second-largest delivery service, reported a 45 percent decline in fourth quarter profits with earnings of $303 million, or 95 cents per share compared to $550 million, or $1.73 per share one year ago.  (Photo by Justin Sullivan/Getty Images)

    Justin Sullivan/Getty

    FedEx Corp is facing charges of conspiring to launder money in a criminal case revolving around the company delivering drugs for bogus online pharmacies. Law enforcement says it repeatedly warned senior company managers that online pharmacies were delivering drugs without prescriptions and using FedEx services. The company was indicted last month for a conspiracy to distribute controlled substances and stands accused of devising new policies to allow the illicit activity to continue rather than putting a stop to it. FedEx has pleaded not guilty. “We will continue to defend against this attack on the integrity of FedEx,” Senior Vice President Patrick Fitzgerald said in a statement on Friday. If convicted, the company faces fines of up to $1.6 billion.

    Read it at Reuters