The U.S. Department of Justice announced that Tomás Niembro Concha, former Chief Executive Officer of Nodus International Bank, pleaded guilty on March 19, 2026 to conspiring to commit wire fraud and conspiring to violate the International Emergency Economic Powers Act in connection with a scheme to fraudulently obtain at least USD 24.9 million from the bank and to evade U.S. sanctions targeting Venezuela-linked individuals. Court filings described how, from 2017 to 2023, Niembro and co-conspirators allegedly concealed from Nodus Bank’s board, executives, and the Office of the Commissioner of Financial Institutions of Puerto Rico that investments and loans were structured for the benefit of Niembro and Board Chairman Juan Ramirez, including USD 11 million invested in a Miami-based lender and at least 47 promissory notes totaling approximately USD 25.3 million purchased from Nodus Finance, a jointly owned company. The sanctions-related conduct involved an OFAC-authorized foreclosure on a Specially Designated National’s Southampton, New York home, followed by an unlicensed plan to sell the property back for USD 4 million through a front company, tied to an outstanding loan of approximately USD 2.5 million. Sentencing is scheduled for June 8, and Niembro agreed to forfeit at least USD 16.9 million as part of the plea agreement; each charge carries a maximum penalty of 20 years in prison.

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