Kenneth Rijock's Financial Crime Blog: WILL THE OFFICERS AND DIRECTORS OF MALTA'S PILATUS BANK NOW BE CHARGED ?

Sunday, March 29, 2020

WILL THE OFFICERS AND DIRECTORS OF MALTA'S PILATUS BANK NOW BE CHARGED ?

Pilatus Bank CEO Hamid Reza Ghambari

In the aftermath of the guilty verdict against Pilatus Bank owner and Director Ali Sadr Hasheminejad in the United States, we have been wondering why the Republic of Malta has neither investigated nor charged any of the principal Officers and Directors of the bank with criminal conduct, especially regarding money laundering and corruption. Since this has not occurred, Malta's reputation as a jurisdiction within the European Union will further deteriorate. It is fast acquiring status as Europe's emerging "banana republic," where corruption and disrespect for the Rule of Law have become commonplace.

In the event that neither Malta nor the United States fails to bring the Pilatus players to justice, we name them here for the benefit of compliance officers at financial institutions in the European Union (EU), who will want to consider whether to label them as high-risk, due to their potential exposure to civil, as well as criminal liability for Pilatus Bank's actions, as the legal principle "directors must direct" is confers strict liability upon all directors.

(1) Chief Executive Officer HAMID REZA GHANBARI, who has a CBI passport from the Commonwealth of Dominica. ( photo above)

(2) COO, Secretary and Director LUIS FELIPE RIVERA, listed as an American citizen.

Luis Felipe Rivera

(3) Director MUSTAFA CETINEL, a citizen of the Republic of Turkey.

(4) Owner and Director SEYED ALI SADR HASHEMINEJAD, who holds a St Kitts & Nevis CBI Passport.