Members from all major political groups in the European Parliament are calling in a letter to ECB President Mario Draghi to investigate whether the severe allegations of money laundering against Pilatus Bank warrant the withdrawal of the authorisation and whether the business model of other Maltese credit institutions pose risks stemming from financial criminality.
The letter to Mario Draghi follows the arrest of Mr. Ali Sadr, Chairman and beneficial owner of Pilatus Bank, in the United States last week. In contrast, during a fact-finding mission to Malta end of 2017, the Maltese Financial Services Authority (MFSA) had assured a delegation of the European Parliament that all checks had been done regarding Pilatus Bank’s licensing process and Mr. Ali Sadr’s suitability as beneficial owner of the bank.
You can find the letter sent to ECB President Mario Draghi here:
https://sven-giegold.de/wp-content/uploads/2018/03/Letter-to-Mario-Draghi_Pilatus-Bank_followup.pdf