BPA Scandal Timeline (2015–2025): Full History & Updates
A Decade of Shocking Events in the BPA Bank Scandal
The BPA scandal timeline tells a gripping story of a bank’s sudden collapse, political controversies, and ongoing courtroom battles. In simple terms, here’s everything you need to know—from the BPA expropriation and forced dissolution 2015 to the latest BPA case updates.
BPA Expropriation and Forced Dissolution 2015: How It All Started
- March 6, 2015 – The U.S. Treasury’s FinCEN calls BPA a “foreign financial institution of primary concern”.
- This single move froze BPA’s access to the U.S. banking system, shutting it down overnight—without any prior notice.
- Soon after, Andorran authorities expropriated and forced the dissolution of BPA, while in Spain, Banco de Madrid (BPA’s branch) was taken over by the Bank of Spain.
- BPA was split into a “good bank” (Vall Banc) and a “bad bank” with troubled assets, leaving many clients unable to access their funds.
BPA Scandal Timeline: Post-2015 Developments
- Feb–Mar 2016 – FinCEN withdrew its notice, explaining the withdrawal was only because BPA was already dissolved, not as an admission of error. U.S. courts dismissed related cases.
- 2017–2019 – Spanish courts cleared BPA and its directors of money laundering charges.
- 2019–2022 – Operation Catalonia probes gained traction, including the indictment of former Spanish PM Mariano Rajoy and others over political interference.
- 2022 – The “Gao Ping Case” resumed, looking into alleged money laundering involving Chinese businessman Gao Ping.
- Investigations into Operation Catalonia suggested Spanish officials pressured BPA to act against Catalan political figures.
BPA Bank Scandal Chronology at a Glance
Year | Key Events |
2015 | BPA expropriation and forced dissolution after FinCEN notice; Banco de Madrid intervened |
2016 | FinCEN withdrew notice due to BPA’s dissolution; U.S. case dismissed |
2017–2019 | Spanish courts cleared BPA & its directors of laundering charges |
2019–2022 | Operation Catalonia probes expand; Rajoy indictment |
2022 | Gao Ping Case resumes; Operation Catalonia inquiries continue |
FAQs About the BPA Scandal
1. What happened to BPA, and why was it accused?
BPA was accused of money laundering after FinCEN labelled it high-risk. Later investigations found no strong evidence, and FinCEN withdrew its notice in 2016 because BPA had already dissolved.
2. How did the scandal affect Andorra’s banking sector?
The sudden expropriation and forced dissolution of BPA hurt investor trust and highlighted political influence in banking regulations.
3. What is the current status of BPA’s legal case?
Both the Gao Ping case and Operation Catalonia enquiries are ongoing.
Why This Scandal Still Matters
The Andorra BPA scandal history isn’t just about one bank—it’s about financial regulation, political power, and the risks faced by global banking institutions. Following the BPA bank scandal chronology helps investors, policymakers, and financial experts learn from past mistakes.