November 20, 2018 - Spanish court found BPA’s Financial Director Santiago Rosello not guilty on money laundering accusations

24 Jul

Written By DH

The National Court (Audiencia Nacional), a criminal court based in Madrid found that BPA’s financial director, Santiago Rosello’s, involvement with Andrey Petrov did not amount to money laundering or any other punishable offences.

BPA’s involvement with Petrov was mentioned in FinCEN’s notice as one of the reasons for the designation of BPA as a foreign financial institution of primary money laundering concern.

BPA had previously denied any wrongdoing and had reported Petrov’s involvement in the bank to Andorran authorities through its audit report and letter to the INAF in 2014.

November 20, 2018 - Spanish court found BPA’s Financial Director Santiago Rosello not guilty on money laundering accusations

June 28, 2017 - Spanish court cleared Banco Madrid and BPA of money laundering charges

January 2, 2019 - Spanish Court dismissed case against BPA due to lack of evidence of money laundering