FORMER PILATUS BANK CHAIR ALI SADR CONVICTED OF FRAUD SANCTIONS VIOLATIONS

On 17 March, KYC 360 reported that former Pilatus Bank chair Ali Sadr has been convicted of bank fraud, conspiracy to commit bank fraud, defrauding the US and busting sanctions against Iran – but cleared of conspiracy to commit money laundering.  The bank was established in Malta in 2014, but in 2016 leaked emails seemed to expose compliance failures and money laundering, and its banking licence was revoked by the European Central Bank in November 2018.

https://www.riskscreen.com/kyc360/news/former-pilatus-bank-chair-ali-sadr-convicted-of-fraud/

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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