FedEx faces $1.6 billion in drug trafficking fines

In a federal grand jury indictment filed July 17 in San Francisco, global overnight shipping giant FedEx Corp. has been accused of conspiring to deliver prescription drugs for illegal online pharmacies. Further, the charges claim that FedEx knew of the illegal activity for a decade, ignoring warnings from the Drug Enforcement Administration and other government groups and actually set up special credit policies for the illegal pharmacies to ensure its payment if law enforcement shut down the sites, the indictment says.   Although no FedEx officers have been formally charged, federal prosecutors have added charges to the case that could carry drug-trafficking fines of more than $1.6 billion.   The case is a cautionary example of how legitimate businesses can be sucked into illegal activities–and a warning to insurance professionals that are responsible for their business risk management.   Read the original story here and here.