Tag: Pilatus

Pilatus Bank – A Never-Ending Maltese Money-Laundering Case!

Court Cases Mark Lagarde - November 7, 2022

The Maltese Pilatus Bank was at the center of a huge European money-laundering case. It was launched in 2014 by, Seyed Ali Sadr Hasheminejad a/k/a Ali Sadr. The European Central Bank shut the bank down in 2018 after Ali Sadr was arrested by the FBI on charges of breaching sanctions against Iran. Sadr was indicted in the U.S., but finally, the charges were dropped. However, the money-laundering charges in Malta continue. It seems to be a highly political and controversial case!

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

Compliance Mark Lagarde - September 18, 2022

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.

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