Ansbacher Bahamas sues Puerto Rico’s Bancrédito for ‘failure to remit $10M’

For the third time in less than two years, Bancrédito International Bank has been sued for allegedly failing to remit funds to an offshore bank with which it had a correspondent bank relationship. The latest complaint – for $10M – filed yesterday by Bahamas-based Ansbacher and Lyford International Bank follows lawsuits for a combined $16.7M in 2017 and 2018 by Bahamas-based Capital Union Bank and Belize-based Choice Bank, respectively.