Lexology: Former CEO of Nodus Int’l Bank pleads guilty to a $24.9M fraud and sanctions evasion scheme, abusing his position to siphon funds & facilitate prohibited Venezuela-linked transactions

The scheme involved concealing related-party dealings, using complex financial structures to disguise the movement of funds, and bypassing U.S. sanctions through deceptive arrangements tied to a sanctioned entity. Authorities said the misconduct not only caused significant financial losses but also contributed to the bank’s collapse, highlighting serious risks from insider-enabled financial crime and sanctions…