One of Antigua principal local banks is currently under active investigation by a US law enforcement agency. A senior bank officer has also been targeted, together with certain outside counsel. The bank's close relationship with one of Antigua's offshore banks is well known.
The bank, which has close ties to its wealthy Venezuelan clients, is believed to be accepting illicit funds, and forwarding them on to other tax havens, especially the Republic of Panama. Panama is a favourite final destination for the proceeds of crime (bribes & kickbacks) of many Venezuelan PEPs, narcotics traffickers, career criminals, and corrupt military officers.
Chronicles of Monte Friesner - Financial Crime Analyst
Contributed by Kenneth Rijock - Financial Crime Consultant