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Tag: Ali Sadr Hasheminejad

Interesting: MFSA And Malta Face Damages Claims From Pilatus Bank Owner!

Compliance Mark Lagarde -
FinTelegram has already reported many times on the unorthodox approach of Maltese authorities against money laundering and illegal investment practices. The collapsed Pilatus Bank is maybe a perfect example of the failure of Maltese regulators. The online magazine Shift reports that the investigating European law enforcement agencies are coming under pressure. In a pending arbitrage case, the World Bank's ICSID recommended suspending criminal investigations against its owner Ali Sadr, who also seeks compensation for damages.

Malta’s MFSA saw no reason why to deny a license to Pilatus Bank

Malta Financial Services Authority tamir -
The smallest EU State, Malta was the first European Union state ever to be greylisted. The FATF grey listed Malta in June 2021. In 2014, the MFSA had issued a banking license to Pilatus Bank. There was no reason for Pilatus Bank to be refused a banking license when it applied for one, Andre Camilleri, the then-director-general of MFSA, said in courts. Pilatus Bank had its license revoked by the ECB in 2018 after the bank’s chairman, Ali Sadr Hasheminejad, was indicted on money laundering charges in the U.S.

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