Company:Pilatus Bank

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Short description: Maltese bank
Pilatus Bank
TypeCorporation
Founded2014
Defunct2018
HeadquartersTa' Xbiex, Malta
Key people
Seyed Ali Sadr Hasheminejad, founder and CEO

Pilatus was a Maltese bank located in Ta' Xbiex.[1] The bank created in 2013 and closed in 2018.[2]

History

Pilatus Bank started its operations in January 2014. Its owner was Seyed Ali Sadr Hasheminejad, known as Ali Sadr. The bank came into the spotlight after reporter Daphne Caruana Galizia accused the bank of laundering funds from allegedly corrupt schemes on behalf of offshore companies and individuals.[3] After an 18-month investigation by a magistrate in Malta, it was determined the claims were untrue.[4]

Ali Sadr was charged with violating United States sanctions against Iran in the United States in March 2018.[5] Found guilty at trial, the court decision was reversed in July 2020 with the charges being dropped.[6]

On 4 November 2018, the bank had their banking license revoked by the European Central Bank (ECB).[7] Following the release of Ali Sadr in 2020, Pilatus is taking legal action through the European Court of Justice for the return of the banking license and for damages against the ECB.[8] In September 2022, the International Centre for Settlement of Investment Disputes has called on Malta to halt any possible legal action against Ali Sadr. Sadr is claiming Maltese Authorities that namely the MFSA and FIAU have personally prosecuted him and violated his rights.[9][10][11]

See also

  • List of banks in Malta

References

  1. ↑ Micallef, Keith (25 March 2020). "PilatusBank was a ‘money transfer operation’". Times of Malta. https://timesofmalta.com/articles/view/pilatusbank-was-a-money-transfer-operation.780716. 
  2. ↑ Tronchet, Sylvain (2018-04-18). "Des entreprises françaises sous contrôle d'oligarques azerbaïdjanais via le paravent maltais" (in fr). https://www.franceinter.fr/monde/projet-daphne-laxiste-malte-permet-aux-oligarques-azerbaidjanaises-de-controler-des-entreprises-francaises. 
  3. ↑ Vella, Matthew (23 September 2019). "MFSA-FIAU joint investigation in Pilatus Bank completed and handed to police". Malta Today. https://www.maltatoday.com.mt/news/national/97588/pilatus_transaction_investigation_sent_to_police. 
  4. ↑ Vella, Matthew (17 December 2019). "Egrant magisterial inquiry". Malta Today. https://www.maltatoday.com.mt/news/national/99310/pn_leader_adrian_delia_to_publish_egrant_magisterial_report_in_full#.Xw-6AShKiUk. 
  5. ↑ Raymond, Nate (20 March 2018). "U.S. arrests Iranian over alleged sanctions evasion scheme". Reuters. https://www.reuters.com/article/us-usa-iran-crime/u-s-arrests-iranian-over-alleged-115-million-sanctions-evasion-scheme-idUSKBN1GW32E. 
  6. ↑ Johnson, Carrie (12 June 2020). "Prosecutors move to drop their own case after evidence issue". NPR. https://www.npr.org/2020/06/12/875137248/prosecutors-move-to-drop-their-own-case-after-evidence-issue-the-judge-wants-ans. 
  7. ↑ "Malta's Pilatus Bank has European licence withdrawn". The Guardian. 5 November 2018. https://www.theguardian.com/world/2018/nov/05/pilatus-bank-malta-european-banking-licence-withdrawn. 
  8. ↑ "Pilatus to sue European Central Bank for damages in American courts". Malta Today. 1 December 2020. https://www.maltatoday.com.mt/news/national/106228/pilatus_to_sue_european_central_bank_for_damages_in_american_courts#.X8anCi-l00o. 
  9. ↑ "International body orders pause to all proceedings against Pilatus' Ali Sadr" (in en-gb). https://timesofmalta.com/articles/view/international-body-orders-pause-proceedings-pilatus-ali-sadr.981455. 
  10. ↑ "Ali Sadr Has A Case Against Malta" (in en). 2022-08-07. https://www.econotimes.com/Ali-Sadr-Has-A-Case-Against-Malta-1638901. 
  11. ↑ "Ali Sadr SLAPPs Malta police, criminal proceedings ‘suspended’" (in en). https://theshiftnews.com/2022/09/17/ali-sadr-slapps-malta-police-criminal-proceedings-suspended/. 

External links



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