Peter Schiff's Euro Pacific Bank has been suspended by Puerto Rico's financial regulator. Schiff claims that there's 'no evidence of crimes.' peterschiff europacific
Peter Schiff's Euro Pacific Bank Suspended by Puerto Rico's Regulator — Schiff Insists No Evidence of Crime
“The order mandates the suspension of Euro Pacific’s operations … due to its crass noncompliance with the minimum capital requirements,” the OCIF detailed. “Further, the order imposes on Euro Pacific administrative fines totaling $765,000.00 for various violations to the laws and regulations administered by OCIF.” The regulator elaborated:
“I have a buyer for the bank. But regulators won’t let me sell it,” Schiff tweeted, claiming that the buyer is “highly qualified” and has promised to “inject capital far in excess of regulatory minimums.”
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