Ex-Puerto Rico Bank CEO Pleads Guilty to $24.9M Fraud and Venezuela Sanctions Evasion

The former CEO of a Puerto Rican international bank pleaded guilty to leading a scheme that fraudulently obtained at least $24.9 million from the institution. He also admitted to conspiring to evade sanctions against Venezuela, highlighting the intersection of financial crime and geopolitical instability. The case underscores the risks of illicit capital flows between sanctioned nations and U.S. territories.