Banco Continental was a bank in Honduras founded by

Jaime Rosenthal Jaime Rolando Rosenthal Oliva (May 5, 1936 – January 12, 2019) was a Honduran politician, and leader of one of Liberal Party of Honduras's (PLH) wings, and was a perennial candidate for President. On March 20, 1974 he founded the Banco Conti ...

on March 20, 1974, and aimed at commercial and agro-industrial banking, including

coffee Coffee is a drink prepared from roasted coffee beans. Darkly colored, bitter, and slightly acidic, coffee has a stimulating effect on humans, primarily due to its caffeine content. It is the most popular hot drink in the world. Seeds of ...

producers. On October 7. 2015, the

United States Department of Justice The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the United States government tasked with the enforcement of federal law and administration of justice in the United Stat ...

released a statement saying that Rosenthal, his son Yani Rosenthal and nephew Yankel Rosenthal, as well as seven businesses, were labeled "specially designated narcotics traffickers" under the

Foreign Narcotics Kingpin Designation Act The Foreign Narcotics Kingpin Designation Act, better known as the Kingpin Act, is landmark federal legislation in the United States intended to address international narcotics trafficking by imposing United States sanctions on foreign persons ...

. This was the first time the designation had been applied against a bank outside the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

. As a result, the official Comisión Nacional de Banca y Seguros (CNBS) forcibly liquidated the bank, which remained closed as of Monday, October 12, 2015.

External links

Official Website

References

Economy of Honduras Banks of Honduras Banks established in 1974 1974 establishments in Honduras {{bank-stub