Forbes Backs Amnesty for Andorra's BPA Banking Scandal Convicts

A Forbes article has publicly backed calls for Andorra to enact an amnesty law covering those involved in the BPA case, arguing it would rectify a perceived injustice and restore the principality's credibility.

Veteran journalist Melik Kaylan, who has covered economic issues since 1999, wrote the piece in the US-based business magazine. He describes the bank's 2013 intervention—linked to the so-called Operació Catalunya and alleged manipulation of a FinCEN report—as leading to the entity's expropriation and lengthy prison terms for executives. Among the 18 recently convicted in the main BPA trial was former CEO Joan Pau Miquel, who received seven years.

Kaylan contends that BPA served as a scapegoat for broader banking corruption in Andorra, with the saga rooted in covert Spanish actions targeting Catalan independence leaders like Jordi Pujol. He notes that while related Spanish cases have collapsed—such as archived proceedings or BPA being cleared of money laundering charges—Andorra's courts delivered convictions. In contrast, high-profile figures like Chinese businessman Gao Ping, a BPA client, have faced no punishment, and Spain's Operació Emperador remains untried after over a decade.

The article highlights post-expropriation revelations in media suggesting Andorra's government targeted BPA in an intelligence operation. Kaylan warns that the "murky, contradictory" affair has drawn little international scrutiny due to its complexity, yet it undermines EU banking security and global financial stability.

An amnesty, he argues, would address "disproportionate punishments," signal Andorra's sovereignty against foreign interference, and reassure the new US administration amid doubts over FinCEN's handling. It would also affirm that US regulatory power cannot be politically exploited. Kaylan urges independent probes into Andorra's banking sector, regardless of political ties, while taking seriously the 2014 US warning on money laundering.