Board chair of Puerto Rico bank helped its collapse by siphoning millions
By 
Adrianne Appel2025-09-23T18:06:00
The board chair of a failed Puerto Rican bank played a key role in its $92 million collapse by robbing it of more than $13.6 million, the Department of Justice said Monday.
Juan Francisco Ramirez, board chair of Nodus International Bank, pleaded guilty to stealing the millions, agreed to forfeiture of at least $13.6 million and faces 20 years in prison.
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