Rabobank to Pay $369 Million to End Mexico Drug-Money Probe

A California unit of the Dutch banking giant Rabobank Groep pleaded guilty to a felony conspiracy charge and agreed to pay $369 million to end a years-long U.S. investigation of whether the bank helped hide money laundering by Mexican drug cartels.

Rabobank admitted in federal court in San Diego to conspiring with several former executives to defraud the U.S. and obstruct regulators’ examinations of its California operations, allowing hundreds of millions of dollars of untraceable cash to flow through branches near the Mexican border, the Justice Department said Feb. 7.

“When Rabobank learned that substantial numbers of its customers’ transactions ...