Pilatus Bank sues Maltese journalists in the USA

Pilatus Bank has commenced legal action in the USA “for having its reputation threatened with false and defamatory allegations.”

Pilatus Bank has been under the microscope since the Egrant allegations arose, as well as those regarding OPM chief of staff Keith Schembri receiving kickbacks for the IIP scheme. Recently, this newsroom reported that the bank refrained from submitting a damning Financial Intelligence Analysis Unit report which outlined the bank’s shortcomings when dealing with accounts held by politically exposed persons (PEPs).

In a statement released to the press, Pilatus Bank said: “The Bank will actively pursue all parties and individuals, directly and indirectly involved in making such harmful allegations being broadcast on national television, radio, and published in national newspapers as well as online news sites in all international competent courts for commercial and punitive damages due to irreparable harm to the Bank and its stakeholders.

“The Bank has also filed a criminal complaint with the Maltese police for the leak of confidential documents and information from documents of the Financial Intelligence Analysis Unit (FIAU) about the Bank to third parties not privy to such information, that were subsequently published. The Bank takes matters of confidentiality extremely seriously and will pursue all individuals and parties who have disclosed information that the law considers as confidential, as well for misappropriating confidential information of the Bank including trade secrets with swift international and local legal actions for all damages.

“There are laws that prohibit the Bank from discussing FIAU or any regulatory agency reports and their contents and thereby prevent it from being able to respond directly to statements published alongside the “leaked” alleged FIAU report. Those laws also require that such reports, their contents, and conclusive findings are treated with utmost confidentiality.

“Pilatus Bank operates at the highest international financial, regulatory, and compliance standards. The Bank will not allow its integrity and reputation to be used for political gain.”