{"id":39364,"date":"2026-03-28T15:49:31","date_gmt":"2026-03-28T15:49:31","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=39364"},"modified":"2026-03-28T15:49:31","modified_gmt":"2026-03-28T15:49:31","slug":"bank-ceo-drains-24900000-after-using-lender-as-personal-atm-triggering-collapse-doj","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=39364","title":{"rendered":"Bank CEO Drains $24,900,000 After Using Lender As \u2018Personal ATM,\u2019 Triggering Collapse: DOJ"},"content":{"rendered":"

\"\"<\/p>\n

The former CEO of Nodus International Bank has pleaded guilty for leading a scheme that fraudulently siphoned at least $24.9 million from the now closed Puerto Rico-based institution.<\/span><\/p>\n

In a statement, the US Justice Department <\/span>says<\/span><\/a>\u00a0Tom\u00e1s Niembro Concha conspired with others to conceal conflicts of interest in certain investments and loans that ultimately led to the collapse of Nodus Bank in 2023.<\/span><\/p>\n

Court filings show that Niembro and the board chairman, Juan Ramirez, caused the bank to invest $11 million in a Miami-based lender so they could loan the fund for their benefit. The duo also induced Nodus Bank\u2019s board and comptroller to agree to buy at least 47 promissory notes worth about $25.3 million from Nodus Finance, which they jointly owned.\u00a0<\/span><\/p>\n

Following a notice from the Office of the Commissioner of Financial Institutions of Puerto Rico (OCIF) that Nodus Bank would be placed into liquidation in March 2023, Niembro and Ramirez also caused the bank to accept a loan portfolio from Nodus Finance to pay down the debt from the promissory notes.<\/span><\/p>\n

Niembro is also involved in a Venezuela sanctions evasion scheme. The former bank executive is accused of conspiring with others to conduct financial transactions with Venezuela\u2019s state-owned oil company, Petr\u00f3leos de Venezuela, which the U.S. Department of the Treasury\u2019s Office of Foreign Assets Control (OFAC) flagged as a Specially Designated National (SDN).<\/span><\/p>\n

Assistant Attorney General A.Tysen Duva of the Justice Department\u2019s Criminal Division says that Niembro\u2019s acts undermine the integrity of the financial system, threaten economic prosperity and harm national security.\u00a0<\/span><\/p>\n

\u201cThe defendant abused his position as CEO, turning the bank he managed into his own personal ATM and unlawfully transacting with a sanctioned individual.\u201d<\/span><\/i><\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

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The post Bank CEO Drains $24,900,000 After Using Lender As \u2018Personal ATM,\u2019 Triggering Collapse: DOJ<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The former CEO of Nodus International Bank has pleaded guilty for leading a scheme that fraudulently siphoned at least $24.9 million from the now closed Puerto Rico-based institution. In a statement, the US Justice Department says\u00a0Tom\u00e1s Niembro Concha conspired with others to conceal conflicts of interest in certain investments and loans that ultimately led to […]<\/p>\n","protected":false},"author":1,"featured_media":39365,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[],"tags":[],"class_list":["post-39364","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\nBank CEO Drains $24,900,000 After Using Lender As \u2018Personal ATM,\u2019 Triggering Collapse: DOJ - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=39364\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank CEO Drains $24,900,000 After Using Lender As \u2018Personal ATM,\u2019 Triggering Collapse: DOJ - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"The former CEO of Nodus International Bank has pleaded guilty for leading a scheme that fraudulently siphoned at least $24.9 million from the now closed Puerto Rico-based institution. 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