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CIERCO et al v. LEW et al
Nature of Suit:
Multi Party Litigation:
Class Action, Derivative Litigation
March 30, 2016
Investors in a now-defunct Andorran bank flagged as risky by the U.S. Department of the Treasury told a D.C. federal court Tuesday that their case is not moot because even though the agency has withdrawn its findings, they stand to lose their assets without court intervention.
March 17, 2016
The U.S. Department of the Treasury’s top financial crimes unit said that a suit brought by investors in a now-failed Andorran bank that was flagged as a prime money laundering risk should be tossed because the agency withdrew that designation.
February 09, 2016
The U.S. routinely destroys banks without giving them a chance to defend themselves, like one in Andorra that failed after being deemed a prime risk for use by terrorists and criminals to launder money, lead investors in the collapsed bank argued Monday.
January 26, 2016
The U.S. Department of the Treasury’s financial crimes unit has said that the lead shareholders in an Andorran bank that was shut down after it was targeted in a U.S. anti-money laundering action had no basis to sue in American courts because U.S. authorities did not close the bank.
October 08, 2015
The lead shareholders in an Andorran bank that was shut down after the U.S. government determined that it was at risk of being used by terrorists and drug traffickers to launder money has sued the Financial Crimes Enforcement Network, alleging that the determination process was a "Keystone Kops"-type fiasco.