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...US regulators relied on incomplete and inaccurate evidence when it “sounded the death knell” for Banca Privada d’Andorra by accusing it of money laundering, according to a lawsuit against the US government...
...Andorra’s government has dismissed the board of Banca Privada d’Andorra only days after the US accused the private bank of money laundering activities for Venezuelan, Russian and Chinese interests....
...In a letter to the Treasury department, the lawyers said the US authorities gave Banca Privada d’Andorra no opportunity to address the alleged problems....
...A little more than two weeks ago Mr Miquel’s bank, Banca Privada D’Andorra, was declared a “foreign financial institution of primary money laundering concern” by the US....
...Over the past week, the bank has been rocked by its connection to Banca Privada d’Andorra, which was accused last Tuesday by the US Financial Crimes Enforcement Network (FinCEN) of money laundering for Chinese...
...Earlier on Tuesday it named Banca Privada d’Andorra — which holds all of the capital of Banco de Madrid — as a foreign financial institution of “primary money laundering concern”....
...Also on Thursday, Andorra’s government dismissed the board of Banca Privada d’Andorra after the US accused the private bank of money-laundering activities for Venezuelan, Russian and Chinese interests....
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