Entire board of Spanish bank resigns amid money laundering probe

The entire board of Spain’s Banco de Madrid has resigned after its Andorran owner was accused by the US of money laundering for clients from China, Russia and Venezuela.

Entire board of Spanish bank resigns amid money laundering probe

The entire board of Spain’s Banco de Madrid has resigned after its Andorran owner was accused by the US of money laundering for clients from China, Russia and Venezuela.

The bank’s seven-member board held a special meeting and unanimously asked the Spanish central bank to resign late yesterday to “defend the interests of employees and clients” and “eliminate any doubt about the stability” of the bank.

You have reached your article limit. Already a subscriber? Sign in

Clubber TV and Irish Examiner logos in offer banner

Every Match. Every Story.

One Ultimate Bundle

No obligation. Ts&Cs apply.

More in this section

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited