Home » 15 hours ago Peter Schiff’s Euro Pacific Bank Suspended by Puerto Rico’s Regulator

15 hours ago Peter Schiff’s Euro Pacific Bank Suspended by Puerto Rico’s Regulator

by admin
0 comment 85 views

SAN JUAN, Puerto Rico (AP) — Authorities announced Thursday they have suspended the operations of Puerto Rico-based Euro Pacific International Bank, which officials previously said was under suspicion of facilitating money laundering and offshore tax evasion.

The bank was founded by Peter Schiff, a U.S. stock broker and financial analyst, and had 15,000 accounts by the end of 2019, according to online documents.

The investigation was launched by Puerto Rico’s Office of the Commissioner of Financial Institutions, which said the bank that obtained a license to operate in the U.S. territory in 2017 came under scrutiny following a lack of internal controls, a lack of compliance and a level of insolvency.

Commissioner Natalia Zequeira said that despite “numerous opportunities,” the bank “has not wanted to comply.”

The bank, located in the capital of San Juan, did not return a message asking for comment.

You may also like

About Us

Dirty Fund is an online news portal that aims to share latest news about fraud, scams, crime and much more stuff like that. Feel free to get in touch with us!

Latest Articles

SUBSCRIBE NOW

Subscribe our newsletter for latest news & update. Let's stay updated!

© 2023 – Dirty.Fund – All rights reserved! If you have breaking news, please contact us directly at contactdirtyfund@proton.me 201 South, Biscayne Blvd 28th Floor, Miami, FL 33131