WASHINGTON — Biscayne Bank in Miami, a community bank that focuses on serving high-net-worth individuals from the Caribbean and Latin America, has been named as an intermediary in the Panama Papers leak.
The $651 million-asset company was listed in a database published earlier this month by the International Consortium of Investigative Journalists, which has coordinated research on millions of leaked documents tied to the Panamian law firm Mossack Fonseca.
The Daily Business Review, a South Florida newspaper for the legal industry, found that Biscayne Bank was the only community bank out of 67 in the Miami area to appear in the database, which includes hundreds of thousands companies and trusts.
"We looked into the bank being listed by the ICIJ by name and address as an 'intermediary' of a company called Canopy Consulting Ltd.," Biscayne Bank Chairman Thomas D. Lumpkin II told the Daily Business Review. "The listing is a mistake, and we have asked that the mistake be corrected."
In the database, Biscayne Bank is linked to Luis Alberto Rios, a Colombian solid waste company magnate with ties to the country's vice president, German Vargas Lleras, according to the Daily Business Review.
Rios owns a company called Canopy Consulting Limited, which was formed in the British Virgin Islands but now lists its address in a Biscayne Bank Coral Gables outpost, according to the database.
Rios told Colombian media that the company was a real estate corporation based in Miami, that he had declared rent and income tied to it and that he had not violated Colombian or international tax laws, according to the Daily Business Review.