Territorial Bank will be investigated over possible money laundering

The suspicion of crime came after the Prosecutor’s Office review the report from the Superintendence of Banks on the financial situation of the Territorial Bank.

This is how the General Attorney, Galo Chiriboga, based on the report, revealed that the bank will be investigated not only over alleged embezzlement but also over a case of possible money laundering, and insisted that the issue will be deeply investigated because it worries the entire institution.

The announcement came alongside the arraignment hearing of the Territorial Bank’s general manager, Raul Fernando Sanchez Rodriguez, who was arrested over alleged money laundering and apparent irregularities in the financial movements of the bank.

After the hearing, the judge Angel Cedeno decided to issue preventive prison against Sanchez based on embezzlement charges.

Raul Sanchez