After Reporter's Murder: Malta's Pilatus Depository Fiscal Establishment Has European Licence Withdrawn

From The Guardian, November:

Bank had been defendant past times murdered journalist Daphne Caruana Galizia of processing corrupt payments

H5N1 Maltese banking concern at the oculus of a money-laundering investigation has had its licence withdrawn past times the European Central Bank.

Pilatus Bank, which opened 4 years ago, was officially closed downward several months afterward its Iranian chairman too owner, Ali Sadr Hasheminejad, was charged inward the the United States inward connection amongst money-laundering too fraud.

The banking concern had also been defendant of processing corrupt payments to Maltese officials past times the investigative journalist Daphne Caruana Galizia, who was killed end yr past times a machine bomb.

The Malta Financial Services Authority (MFSA), which regulates the country’s banking manufacture too granted Pilatus a licence inward 2014, said the ECB had acted on its asking to unopen the bank.

In a contestation on Mon the MFSA said: “Further to the authority’s proposal to the ECB to take away the authorisation of Pilatus Bank every bit a credit institution, the ECB’s governing council has decided to take away the authorisation of Pilatus Bank amongst upshot from today.”

The European Union began an investigation into Malta’s regulation of the banking concern end year, next Caruana Galizia’s death, amongst the European Banking Authority (EBA) project the inquiries.

Then inward March, Sadr was arrested inward the the United States on charges that he had violated the country’s sanctions too anti-money-laundering rules.

According to the indictment, filed inward New York, Sadr participated inward a system to illegally funnel $115m (£88m) inward payments for a Venezuelan structure projection to Iranian individuals too companies. He has pleaded non guilty to the charges.

Straight afterward his arrest the MFSA took command of Pilatus, freezing all transactions for customers, too banning executives too shareholders from withdrawing whatever funds from the bank....MORE

Previously on Pilatus:
Who Killed Investigative Journalist Daphne Caruana Galizia?
Malta, H5N1 Modern Smugglers’ Hideout"

And on Malta:
"Death inward a Smugglers’ Paradise"
"Malta, H5N1 Modern Smugglers’ Hideout"