The former board chairman and co-owner of Nodus International Bank (Nodus Bank), a Puerto Rican International Banking Entity, was sentenced today to 62 months in prison, three years of supervised release, and to pay forfeiture of approximately $13.6 million, which represents the value of the proceeds he derived from the wire fraud conspiracy. Juan Francisco Ramirez, 60, of Miami, Florida, led a scheme to fraudulently obtain more than $23.6 million from Nodus Bank. “This defendant abused the trust of his bank’s depositors, and when the bank went under, innocent people lost their savings,” said Assistant Attorney General A. Tysen
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