US: Feds probe Bank of Internet for possible money laundering

283

March 31 2017

Federal agents are conducting a probe into possible money laundering at online lender Bank of Internet, The Post has learned. The Justice Department, which is leading the investigation, has interviewed at least one former employee of the San Diego-based bank, sources said.

Bank of Internet Chief Executive Gregory Garrabrants, head of the bank since 2007, is also a focus of the probe, sources said. Neither the 18-year-old bank nor Garrabrants has been accused of any criminal activity.