The so-called Andorra banking scandal—often called the BPA bank scandal—is one of the most talked-about cases in European money laundering news. Many reports claim that “Andorran bankers jailed” after a €70M money laundering case, but the full picture is more nuanced.
Here is what’s confirmed, what’s still under trial, and why this case matters for anyone following the money laundering scandal Andorra updates.

What’s Verified in the BPA Money Laundering Case

• 2015 FinCEN Notice – The U.S. Treasury’s Financial Crimes Enforcement Network labeled Banca Privada d’Andorra (BPA) as a “foreign financial institution of primary money laundering concern.”
• Government Intervention – BPA was taken over, its board suspended, and later split into a “good bank” (Vall Banc) and a “bad bank” holding toxic or disputed assets.
• Economic Fallout – Investors faced major losses, and BPA’s owners have sued for damages of €364 million, alleging political motives behind the bank’s closure.
• Ongoing Trial – The case involving former BPA directors (sometimes called the Gao Ping case) resumed in 2022. If convicted, executives could face up to 8 years in prison and fines reaching €70 million.

What’s Not Yet Proven

Despite widespread headlines, here’s what has not been confirmed in court:

• There are no final convictions for BPA executives in the BPA money laundering case.
• The often-quoted €70 million figure refers to the maximum potential fine, not a proven laundered amount.
• No verifiable evidence yet shows that bank executives jailed has actually happened.

Why Media Confusion Happens

Many outlets conflate the FinCEN designation (which was later withdrawn) with a final guilty verdict. Reports of a “€70 million laundering plot” are based on the prosecution’s case and potential penalties — not confirmed findings.

Lessons from the Andorra Banking Sector Scandal

• Reputation Can Collapse Overnight – Even allegations can destroy a bank’s standing.
• Due Process Takes Time – Court trials, deliberations, and appeals can span years.
• Global Cooperation Matters – This case shows how cross-border money laundering probes involve multiple jurisdictions.
• Regulatory Wake-Up Call – Expect tighter compliance and stronger AML oversight in Andorra’s financial sector.

FAQs

Q: Have any Andorran bankers been jailed?
A: Not yet. The trial is ongoing; no prison sentences have been finalized.

Q: Was €70 million confirmed laundered?
A: No. The €70 million is the maximum fine if the defendants are found guilty.

Q: What is the BPA bank scandal?
A: It refers to allegations that BPA facilitated international money laundering, leading to its government takeover and eventual dismantling.

Q: What happens next?
A: The court verdict is still pending. Sentences, if any, will be announced after appeals are resolved.

Conclusion

The BPA money laundering case remains one of the most significant Andorra financial crime investigations. While many call it the money laundering scandal Andorra, the truth is that no final convictions or banker sentencing news have been confirmed yet.

For now, the case serves as a warning to financial institutions worldwide: strong compliance, transparency, and AML controls are non-negotiable.