Pilatus Bank
| Company type | Corporation |
|---|---|
| Founded | 2014 |
| Defunct | 2018 |
| Headquarters | Ta' Xbiex, Malta |
Key people | Seyed Ali Sadr Hasheminejad, founder and CEO |
Pilatus was a Maltese bank located in Ta' Xbiex.[1]
History
Pilatus Bank started its operations in January 2014. Its owner was Seyed Ali Sadr Hashemi nejad, known as Ali Sadr. The bank came into the spotlight after reporter Daphne Caruana Galizia accused the bank of laundering funds from allegedly corrupt schemes on behalf of offshore companies and individuals.[2] After an 18 month investigation by a magistrate in Malta, it was determined the claims were untrue. [3]
Ali Sadr was charged with violating US sanctions against Iran in the United States in March of 2018.[4] Found guilty at trial, the court decision was reversed in July 2020 with the charges being dropped.[5]
On 4 November 2018, the bank had their banking license revoked by the European Central Bank (ECB).[6] Following the release of Ali Sadr in 2020, Pilatus is taking legal action through the European Court of Justice for the return of the banking license and for damages against the ECB.[7]
See also
References
- ^ Micallef, Keith (25 March 2020). "PilatusBank was a 'money transfer operation'". Times of Malta. Retrieved 25 March 2020.
- ^ Vella, Matthew (23 September 2019). "MFSA-FIAU joint investigation in Pilatus Bank completed and handed to police". Malta Today. Retrieved 25 December 2019.
- ^ Vella, Matthew (17 December 2019). "Egrant magisterial inquiry". Malta Today.
- ^ Raymond, Nate (20 March 2018). "U.S. arrests Iranian over alleged sanctions evasion scheme". Reuters. Retrieved 20 March 2018.
- ^ Johnson, Carrie (12 June 2020). "Prosecutors move to drop their own case after evidence issue". NPR.
- ^ "Malta's Pilatus Bank has European licence withdrawn". The Guardian. 5 November 2018. Retrieved 5 November 2018.
- ^ "Pilatus to sue European Central Bank for damages in American courts". Malta Today. 1 December 2020.
External links
- Pilatus Bank in the Offshore Leaks Database by ICIJ