Pilatus Bank owner found guilty of bank fraud – report

ali_sadr

Tista' taqra bil- Malti.

The owner of Pilatus Bank Ali Sadr Hashemi Nejad was found guilty of bank fraud, according to the news website Inner City Press.

Inner City Press reporter Matthew Russell Lee said that Ali Sadr was found guilty on most of the charges filed against him.

Lee reported that Ali Sadr was found guilty of conspiring to defraud the US and bank fraud among other charges. He was found not guilty for conspiracy to commit money laundering.

Reacting to the news on Twitter, PN MEP David Casa said that the guilty verdict is a “confirmation that the Government of Malta truly befriended a world class criminal.”

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The Assistant US Attorney (AUSA) asked for Ali Sadr’s bail to be revoked and for the banker to be sent to jail. The defense lawyer said that his client wasn’t a risk of flight and that 40 families would lose their life savings.

AUSA Krause reminded the court that Ali Sadr holds a citizenship in a country with no extradition agreements with the US. “If he fled to Iran, we could not get him back,” said Krause.

It was reported that Judge Nathan shifted Ali Sadr to home detention. She said that the conditions would be modified with GPS monitoring. The trial will now proceed to sentencing stage.

The American government accused the owner of Pilatus Bank that he evaded sanctions whereas his lawyer described him as having a pure heart. These comments were made at the outset of a jury of Ali Sadr Hashemi Nejad in the United States Court.

Sadr Hasheminejad was originally arrested in March 2018 at Dulles Airport, and charged with money laundering and breaching US sanctions against Iran by funnelling more than US$115 million paid under a Venezuelan construction contract through the US financial system.