Peter Weinzierl, a former banker from Austria, has arrived in the United States to face federal charges linked to a vast money laundering conspiracy that allegedly funneled hundreds of millions of dollars through the U.S. financial system. After four years of fighting extradition from the UK, Weinzierl is in custody at the Metropolitan Detention Center in Brooklyn, New York, and is expected to make a court appearance today. The 59-year-old has denied all charges against him.
Weinzierl served as the chief executive officer of Anglo Austrian AAB Bank AG, which was previously known as Meinl Bank. He was indicted in 2020 for allegedly working with Odebrecht SA, Latin America’s largest construction company, now renamed Novonor, in a scandal that involved paying bribes worldwide for business advantages. According to U.S. prosecutors, between 2012 and 2016, Weinzierl helped transfer over $170 million from New York to offshore accounts via his bank. Notably, Meinl Bank itself has not faced charges in this case.
While Odebrecht is not a defendant in Weinzierl’s indictment, U.S. officials have linked his case directly to the company’s longstanding corruption scandal. The firm admitted in 2016 to participating in extensive bribery and bid-rigging schemes dating back to at least 2001, involving an illicit unit known as the “Department of Bribery.” Weinzierl is charged with four counts, including conspiracy and multiple counts of money laundering.
Weinzierl’s U.S. legal team, comprising attorneys Claiborne Porter and Michael B. Nadler, did not respond to inquiries regarding the case. His defense has argued that his arrest in the UK was a misuse of legal processes. His lawyers claim he was “lured” to London by a U.S. government operative impersonating a CIA agent, a statement that U.S. authorities have not confirmed or denied. He was arrested upon landing.
According to U.S. prosecutors, Odebrecht used Meinl Bank to wire money from U.S. accounts, enabling false tax offsets in Brazil. The funds were then allegedly funneled through a subsidiary bank in Antigua and Barbuda, facilitating covert bribes to foreign officials. The indictment outlines a complex network of banks and shell companies involved in the alleged operations, including entities in New York, Switzerland, Panama, and more.
Prosecutors have expressed concern about Weinzierl’s potential flight risk. They argue he should remain in federal custody, citing his lack of ties to the U.S. and considerable assets outside the country. “His extradition involved a years-long battle that the defendant fought at every possible step,” said prosecutor Jonathan Siegel. “As long as he remained in the United Kingdom, he could hope to evade U.S. court proceedings, but those hopes have now been dashed, increasing his incentive to flee.”
Meinl Bank, originally founded in 1923 as a savings club for employees of the Julius Meinl AG grocery chain, faced insolvency in 2020 after the European Central Bank revoked its banking license due to alleged money laundering failures, specifically related to Odebrecht. The Brazilian company acknowledged making approximately $788 million in illicit payments and agreed to pay $4.5 billion in penalties, although a federal judge later concluded it could only manage $2.6 billion.
The case is filed under US v. Weinzierl, 20-cr-383, in the U.S. District Court for the Eastern District of New York.
Original Source: https://www.livemint.com/news/us-news/banker-lured-to-uk-by-spy-extradited-to-us-in-bribery-case-11746827270486.html
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Publish Date: 2025-05-10 03:17:00
