Suspended bank refused order to freeze accounts

BANCO UNIVERSAL, whose operations were suspended on Friday, June 5, refused to comply with a request of the third Anti-Corruption Prosecutor to freeze a series of bank accounts which was one of the reasons leading to its suspension.

Although the Banking Superintendency suspension resolution does not mention names, the anti-corruption prosecutor ordered the freezing of 40 accounts linked to bank shareholder Felipe “Pipo” Virzi, who is being investigated for money laundering and offences against public administration. Virzi, who served as second vice president 1994 – 1999, has been detained since Wednesday under the orders of Prosecutor Zuleyka Moore. He is being investigated over more than $10 million he was paid by a government contractor.
According to the Superintendency, the prosecutor met with bank officials May 28 about the accounts. The same day, a number of transactions were recorded in the accounts.
“There is evidence that Banco Universal decided not to give full compliance to the provision of the third anti-corruption prosecutor,” said the resolution ordering the suspension.
It also failed to freeze two fixed-term accounts reports La Prensa.
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