ANDORRA LA VELLA / MADRID (Reuters) – The CEO of the Andorran bank BPA, which was removed along with the rest of the council this week by the financial authorities, was arrested Friday night on suspicion of laundering money, said Saturday a police spokesman Andorra.
Joan Pau Miquel Prats ran the bank until last Thursday when he was removed en bloc the board of directors of the entity and three of its officers following an investigation into the company in relation to money capitals.
Reuters could not be contacted immediately for comment BPA Miquel .
Andorra BPA took over this week after the agency US responsible for combating money laundering draw the entity for possible activity with Russian and Chinese criminal organizations and funds allegedly diverted from the Venezuelan state oil company PDVSA.
The principality in the Pyrenees, which gets 20 percent of the national GDP of its banking sector, said that BPA is a case isolated and that the allegations were limited to one entity.
The service Spanish prevention of money laundering (SEPBLAC) has denounced the anti-corruption prosecutor managers of Banco de Madrid, which is a subsidiary of BPA in Spain, for the body to initiate an investigation amid signs of crime in the Andorran bank subsidiary of BPA .
The Spanish Anticorruption Prosecutor must now decide whether to open an investigation if it considers that the facts constitute an offense.
Hacienda could also open an investigation BPA and Banco Madrid, which also has a new leadership appointed by the Bank of Spain after his council resign en bloc.
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