Former Pilatus Bank chairman Seyed Ali Sadr Hasheminejad has claimed a net worth of $24 million, of which $12.9 million is equity in the Ta’ Xbiex-based bank.
In additional information supplied as part of bail submissions in the US, seen by Times of Malta, Mr Hasheminejad’s lawyers argue that the proposed bail package consists of a series of conditions and bonds.
Apart from his $12.9 million worth of equity in Pilatus Bank, the lawyers said that Mr Hasheminejad also owned an apartment in Washington, worth approximately $1.5 million, had interest in A&H Urban Lifestyle Investments worth approximately $227,115, interests in pistachio farms in California, $3.1 million in bank accounts in Cyprus as well as a further $70,000 in other bank accounts.
The lawyers, in their submission, also noted that “only a small portion of these assets are reasonably subject to forfeiture”.
Read: Pilatus Bank is 'winding down'
On Pilatus Bank being taken over by the Malta Financial Services Authority, with former US financial regulator Lawrence Connell being appointed to take charge of the bank’s assets, the lawyers said they were aware a “competent person” had been appointed to unwind the assets of the bank, with any remaining assets being provided to Mr Hasheminejad.
Trustworthy, honest and a role model for their own families
The Maltese authorities have denied that the bank is in the process of unwinding despite Nationalist MP Jason Azzopardi telling Parliament this week that the creditors of the Ta’ Xbiex bank were being paid their dues by the Central Bank of Malta (CBM).
The CBM is however claiming that this was in line with its basic function of acting as banker to the banks and all credit institutions licensed by the MFSA, including Pilatus, were obliged by law to operate a reserve deposit account with it.
Read: Pilatus Bank chairman arrested in the US
Apart from listing Mr Hasheminejad’s assets, the lawyers also supplied the US court with what they said were “meaningful pledges from dozens of co-signers”, pointing to what they claim to be an “unprecedented outpouring of support for Mr Hasheminejad”.
“These nearly 40 proposed co-signers are law-abiding, ordinary people – teachers, contractors, retirees; mostly Americans – who have known Mr Hasheminejad since he was a child, and who universally view Mr Hasheminejad as trustworthy, honest, and a role model for their own families,” the submission reads.
The bail hearing for Mr Hasheminejad , who is charged with violating economic sanctions against Iran and with money laundering, has been set for Wednesday.