The previous CEO of Nodus Worldwide Financial institution has pleaded responsible for main a scheme that fraudulently siphoned at the least $24.9 million from the now closed Puerto Rico-based establishment.
In a press release, the US Justice Division says Tomás Niembro Concha conspired with others to hide conflicts of curiosity in sure investments and loans that in the end led to the collapse of Nodus Financial institution in 2023.
Court docket filings present that Niembro and the board chairman, Juan Ramirez, prompted the financial institution to speculate $11 million in a Miami-based lender so they may mortgage the fund for his or her profit. The duo additionally induced Nodus Financial institution’s board and comptroller to agree to purchase at the least 47 promissory notes price about $25.3 million from Nodus Finance, which they collectively owned.
Following a discover from the Workplace of the Commissioner of Monetary Establishments of Puerto Rico (OCIF) that Nodus Financial institution could be positioned into liquidation in March 2023, Niembro and Ramirez additionally prompted the financial institution to simply accept a mortgage portfolio from Nodus Finance to pay down the debt from the promissory notes.
Niembro can also be concerned in a Venezuela sanctions evasion scheme. The previous financial institution govt is accused of conspiring with others to conduct monetary transactions with Venezuela’s state-owned oil firm, Petróleos de Venezuela, which the U.S. Division of the Treasury’s Workplace of Overseas Property Management (OFAC) flagged as a Specifically Designated Nationwide (SDN).
Assistant Lawyer Common A.Tysen Duva of the Justice Division’s Prison Division says that Niembro’s acts undermine the integrity of the monetary system, threaten financial prosperity and hurt nationwide safety.
“The defendant abused his place as CEO, turning the financial institution he managed into his personal private ATM and unlawfully transacting with a sanctioned particular person.”
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