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Pilatus Bank Owner Granted Bail By American Courts

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Bail has been granted to Ali Sadr Hashemi Nejad, the owner of Pilatus Bank, according to a report by MaltaToday’s Sunday paper.

Some $34 million in assets and bonds are reportedly being held by the New York courts to ensure Hashemi Nejad, who was previously considered a flight risk, shows up to his next court sitting.

Accused of breaking US sanction laws with Iran, the banker’s bail appeal was heavily opposed by US District Attorney, Geoffrey Bearman. 

Hashemi Nejad’s lawyers argued that people with much heavier accusations had been let out on bail before, and that the combination of bonds from friends and family (even including friends’ retirement funds) with the banker’s agreement to stick to very strict bail terms should be enough reason to let him out till his next court sitting.

Ali Sadr Hashemi Nejad was arrested in Virginia last month, and was charged with bank fraud and breaching US sanctions with Iran.

READ NEXT: Malta Reacts To Pilatus Bank Chairman Getting Arrested By The USA

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