Asia Sentinel

Asia Sentinel

Rogue Bank May Have Lost Fight to Stay Open

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John Berthelsen
Oct 11, 2017
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Ayoub-Farid, Fadi and Michael Norbert Saab, the beneficial owners of the Tanzania-based FBME Bank, whose Cyprus unit has been described as one of the most notorious money-laundering operations in the world, apparently have lost their fight to keep the bank open in the face of a US Justice Department move to shut it down for good.

On Oct. 3, the bank’s la…

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