First BanCorp Denies Lawsuit Allegations
First BanCorp said it is aware that a lawsuit has been filed against it in the United States District Court for the Southern District of New York alleging claims relating to banking services provided to Jeffrey Epstein following a bank acquisition in the U.S. Virgin Islands. It added, "The Corporation and FirstBank categorically deny the claims alleged in the complaint and intend to vigorously defend against them. First BanCorp and FirstBank are committed to maintaining the highest standards of compliance, governance, and ethical conduct. As a highly regulated financial institution, FirstBank maintains a comprehensive Bank Secrecy Act and Anti-Money Laundering compliance program designed to meet its legal and regulatory obligations, and, as a matter of ongoing practice, works cooperatively with its regulators and, where appropriate, with law enforcement authorities in support of the integrity and potential misuse of the banking system. The Corporation is reviewing the complaint and will respond through the appropriate legal channels. Given that litigation is pending, FirstBank will not be providing further comment at this time."
