ANSA Bank Hit by $30M Fraud Scheme; Court Orders Criminal Action

In a significant court ruling, two ANSA Bank loan officers and six car dealers have been found guilty of a $30 million fraud scheme involving sham vehicle-financing transactions. The transactions, which involved non-existent cars, led to the bank disbursing approximately $30 million between June 2021 and June 2023. Justice Frank Seepersad, who delivered the ruling, ordered the judgment to be sent to the Director of Public Prosecutions, the Commissioner of Police, and the Minister of Trade and Industry for consideration of criminal charges and potential revocation of the implicated dealerships’ licenses. Dwayne Rojas, a Business Development Officer at ANSA Bank, was identified as a central figure in the conspiracy. The court criticized ANSA Bank for its weak internal systems, which failed to detect the fraudulent scheme.