Former Nodus Bank CEO Sentenced to 112 Months for Wire Fraud Conspiracy

Tomás Niembro Concha, 64, the former chief executive officer of Nodus International Bank, has been sentenced to 112 months in prison and three years of supervised release. The case concerns a multimillion-dollar wire fraud conspiracy tied to the Puerto Rican international bank.

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Niembro is identified in the source as a Spanish and Venezuelan national. According to the text, he led a scheme to fraudulently obtain at least $24.9 million from Nodus Bank.

The source also says Niembro conspired to evade U.S. sanctions against Venezuela. In addition to the prison term and supervised release, he was ordered to forfeit over $16.9 million, which is described as the value of the proceeds he derived from the wire fraud conspiracy.

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Image Credit: 360LiveNews

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