Justice · Thursday, October 8, 2026
Former Puerto Rican bank chairman gets 62 months for looting the bank
The File desk · Oct 8, 2026, 10:43 AM UTC
Status
Confirmed. A Justice Department release on Oct. 7, 2026, says a federal judge in the Southern District of Florida sentenced Juan Francisco Ramirez to 62 months. He pleaded guilty in September 2025.
Juan Francisco Ramirez, 60, of Miami, was chairman and co-owner of Nodus International Bank, a bank licensed in Puerto Rico that operated like an offshore bank. Prosecutors say he secretly steered the bank's money to himself and a partner through sham investments and loans. The bank lost at least $23.6 million and went into liquidation in 2023. On Wednesday a federal judge sentenced him to 62 months and ordered forfeiture of about $13.6 million. He pleaded guilty in September 2025.
The case is a Legal instrument Using phone lines, the internet, or other wires to carry out a scheme to cheat people out of money, and agreeing with others to do it. Up to 20 years per count, per the Justice Department. The releases cited here do not give a statute section.Wire fraud and conspiracy to commit wire fraud
What is still unknown or disputed
- The judge's name. The release, as used here, does not print it.
Primary sources
Every claim in this story is drawn from the documents below. If a fetch failed, that is recorded on the card.
Source 1
Board Chairman and Co-Owner of Puerto Rican Bank Sentenced in Multimillion-Dollar Wire Fraud Conspiracy
U.S. Department of Justice, Office of Public Affairs · October 7, 2026
Ramirez’s actions caused Nodus Bank to lose at least $23,613,371.
https://www.justice.gov/opa/pr/board-chairman-and-co-owner-puerto-rican-bank-sentenced-multimillion-dollar-wire-fraud