Investigations tied to the 2016 Panama Papers are still rolling heads. As one of the victims, Pilatus Bank officially shut down on license withdrawal by the European Central Bank. Reportedly, the bank involved itself in an elaborate scheme to launder money. A number of leaked FIAU reports also allege that the bank had a role in high level corruption. In particular, the ECB arrived at the decision after the United States charged a former chairman of the bank. Specifically, the charges related to money laundering and bank fraud, Reuters reports. Further,…
Pilatus Bank officially shuts; after years of investigations
