U.S. court rules against Andorran bank accused of money laundering
24 May 2017

A federal appeals court in Washington ruled on Tuesday against owners of the now defunct Banca Privada d’Andorra S.A. who had sought to reverse an order by the U.S. Treasury Department declaring the institution a “primary money laundering concern.”

A three-judge panel rejected calls by Ramon and Higini Cierco, former owners of the Andorran bank known as BPA, to rule the Treasury action illegal, capping a lawsuit that had attacked the Treasury Department’s authority to issue orders against banks based on secret evidence.

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