The Federal Reserve Board announced a consent prohibition order against Nicolás Pérez Alvarado, a former employee of Banco Popular de Puerto Rico, in connection with the embezzlement of bank funds. It also announced the termination of an enforcement action against Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc. The terminated action was a cease and desist order originally dated January 18, 2022, which the Board terminated on March 20, 2025.
Federal Reserve Board 2025-04-01
Federal Reserve Board issues a consent prohibition order for embezzlement and terminates a cease and desist order against Nano Banc and related companies
The Federal Reserve Board issued a consent prohibition order against Nicolás Pérez Alvarado, a former Banco Popular de Puerto Rico employee, for embezzling bank funds. Additionally, the Board terminated a cease and desist order against Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc, originally dated January 18, 2022.