MANAGUA, Nicaragua (AP) — A Nicaraguan bank close to the government has shut down after the United States imposed sanctions for alleged financial misdeeds on behalf of Venezuela's state-owned oil company.
Eduardo Holmann Chamorro, one of Bancorp's three directors, says that the country's Banks and Financial Institutions Superintendent had accepted the bank's request for a "voluntary dissolution."
Holmann said late Wednesday that the bank would be shuttered and 106 employees would be out of work.
U.S. national security adviser John Bolton announced new sanctions against the bank last week, calling it a "slush fund" for President Daniel Ortega. The U.S. had already sanctioned it for its ties to Venezuela.
Bancorp was created in 2014 by Alba de Nicaragua (Albanisa) to handle the money of Nicaraguan companies created with Venezuelan funds.
Before you consider Unit, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Unit wasn't on the list.
While Unit currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
