Revoke Pilatus Bank’s license immediately

David Casa has been requesting the revocation of Pilatus Bank’s license since December 2017.

Partit Nazzjonalista's Head of Delegation stated:

“The arrest of the Chairman of Pilatus Bank Ali Sadr Hasheminejad in the United States has further exposed this bank as a criminal organisation. It is disgraceful that this bank was ever given a license to operate in Malta. It is even more disgraceful that this bank was allowed to continue to hold that license despite the overwhelming evidence of the bank’s involvement in criminal activity.

The FIAU has been aware that Hasheminejad was being investigated by FinCEN since at least 2016. In the report that shows how this bank laundered the kickbacks Keith Schembri received from Brian Tonna for the sale of passports, reference is made to Hasheminejad being investigated for illicit money transfers in another jurisdiction.

In addition, MFSA representatives sat across from MEPs last December and told us how thorough their due diligence processes were on Pilatus Bank.

These institutions are either complicit or so incompetent it beggars belief.

I reiterate my call on MFSA chairman and its Supervisory Board to desist in the irreparable damage they have caused to Malta’s reputation and to revoke Pilatus Bank’s license immediately.

It is clear to all that this Bank has been protected from scrutiny in view of the relationship between Hasheminejad and Keith Schembri and the fact that that the bank has been exposed to have laundered money for Schembri on a number of occasions.

This must end now. The longer this persists the more damage it will cause to Malta, to our reputation and to our financial services industry."