March 12, 2015 / 12:46 PM / 2 years ago

Andorra sacks board of lender BPA amid money-laundering probe

MADRID, March 12 (Reuters) - The Andorra government has dismissed the board of private bank Banca Privada d'Andorra (BPA) and sacked three managers in the wake of a money-laundering investigation in the principality.

"The board has been dismissed en masse," a spokesman for the Andorra government said. Separately a spokesman for its financial watchdog said three managers had also been removed.

Andorra took control of privately-owned BPA on Tuesday, citing alleged bad practice amid a probe into alleged money-laundering.

Reporting By Carlos Ruano and Jesus Aguado; writing by Elisabeth O'Leary, Editing by Sarah White

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