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DOJ Criminal Division United States Financial Crime Fraud & scams ✓ 10 claims checked 16 Oct 2026

Puerto Rico bank chairman gets 62 months for $23.6 million fraud scheme

Regulus briefing
1:10 · DOJ Criminal Division · 07 Oct 2026

The former board chairman and co-owner of Nodus International Bank, a Puerto Rican International Banking Entity, was sentenced to 62 months in prison for a wire fraud conspiracy that drained the bank of more than $23.6 million and contributed to its collapse. The DOJ account details the mechanics of the scheme and its regulatory concealment.

  • Ramirez was sentenced to 62 months in prison, three years of supervised release, and forfeiture of approximately $13.6 million.
  • From 2017 to 2023 Ramirez conspired to invest more than $11 million of Nodus Bank's funds in a Miami-based lender for his own and a co-conspirator's benefit.
  • Between January 2018 and September 2021 Ramirez induced the bank's board to purchase at least 47 promissory notes totaling approximately $25.3 million from a company he jointly owned.
  • On April 28, 2023, without OCIF authorization, Ramirez caused Nodus Bank to purchase a loan portfolio totaling approximately $26 million, most of it delinquent or nonperforming.
  • The DOJ states Ramirez's actions caused Nodus Bank to lose at least $23,613,371.

Executive summary

The U.S. Department of Justice announced that Juan Francisco Ramirez, 60, of Miami, the former board chairman and co-owner of Nodus International Bank, a Puerto Rican International Banking Entity, was sentenced on October 7, 2026 to 62 months in prison,…

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Source documents

https://www.justice.gov/opa/pr/board-chairman-and-co-owner-puerto-rican-bank-sentenced-multimillion-dollar-wire-fraud
Published by DOJ Criminal Division · 07 Oct 2026
Read by Regulus 16 Oct 2026 at 17:03 UTC
10 factual claims checked against this document · 0 unsupported
Cited and linked; extract quoted under fair dealing

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