Points to be made (1)

Published: April 26, 2017 at 3:00pm

If an Iranian with a passport from St Kitts & Nevis tries to open an account with a Maltese bank, he would be politely turned down because of international sanctions and risk/compliance procedures, specifically those involving Iranians with St Kitts & Nevis passports.

And yet, the Malta Financial Services Authority gave Seyed Ali Sadr Hasheminejad, a 33-year-old Iranian with a St Kitts & Nevis passport, with millions from undisclosed sources, a licence to set up an entire bank, Pilatus.

Pilatus applied to the MFSA for its banking licence in late 2013, and got it with amazing speed in January 2014.

CASTILLE GANG: when no bank will launder your money, set up your own bank with the help of an Iranian his early 30s with a passport from St Kitts and Nevis and money from Ilham Aliyev’s son, daughter and Minister for Emergency Situations