Puerto Rican Bank Pleads, Dollar Wire Fraud Conspiracy, That Led — Chairman of the Board of Puerto Rican Bank Pleads Guilty to Multimillion-Dollar Wire Fraud Conspiracy That Led to Bank’s Collapse | United States Justice Department.
On April 28, 2023, knowing that the liquidation process would commence imminently and without authorization from OCIF, Ramirez and a co-conspirator caused Nodus to purchase from their Miami-based finance company a loan portfolio totaling approximately $26 million. Galeotti of the Justice Department’s Criminal Division. Ramirez and his co-conspirators knew that these transactions were illegal and took steps to conceal their prohibited nature by having the bank make sham investments in the lending entity.Further, between January 2018 and September 2021, Ramirez and a co-conspirator fraudulently induced Nodus’s board and comptroller to agree to,
or facilitate, the purchase of at least 47 promissory notes totaling approximately $25.3 million from Miami-based finance company that Ramirez and the co-conspirator jointly owned. Ramirez and a co-conspirator concealed from other Nodus board members and executives, and the bank’s regulator — the Office of the Commissioner of Financial Institutions of Puerto Rico (OCIF) — that certain investments or loans were for the benefit of Ramirez and a co-conspirator, in violation of Puerto Rican law and Nodus policy regarding insider transactions.From 2017 to 2023, Ramirez conspired with others to invest more than $11
million of Nodus’s funds in a Miami-based lender so that it could loan those funds to Ramirez and a co-conspirator for their own benefit. Updated September 22, 2025 Components Criminal Division Criminal – Money Laundering and Asset Recovery Section announcement Number: 25-980. “The Criminal Division is committed to investigating and prosecuting white-collar fraudsters, no matter how lofty their position, to ensure their crimes do not pay.”court filings state, Juan Francisco Ramirez, 60, of Miami, Florida, conspired with others to siphon money from Nodus. announcement Chairman of the Board of Puerto Rican Bank Pleads Guilty to Multimillion-Dollar