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