In the United States, BBVA has four business units: BBVA Puerto Rico, Laredo National Bank
, BTS--a new remittance company--and BBVA Bancomer USA, the latter of which will cater to first-generation migrant workers living in California, where the bank operates.
Incus, a bank holding company chartered in the British Virgin Islands, owns a majority of Laredo National Bancshares, the parent of Laredo National Bank
and South Texas National Bank, all of which are in Laredo, Texas.
I am writing to request the support of APSA members in my defense against a lawsuit that has been filed against me by Laredo National Bancshares, Inc., Laredo National Bank
(LNB), and Gary G.
Grupo Interacciones, owned by Carlos Hank Rhon, has controlling interest in Texas-based Laredo National Bank
His son just bought control of Laredo National Bank
. This man has billions of dollars in visible net worth - airstrips, ranches, aircraft, real estate holdings all over the world, bank accounts.
In a Notice of Intent to Prohibit and Notice of Charges and of Hearing (the "Notice") issued December 16, 1998, the Board alleged that Hank Rhon used nominees to secretly acquire additional LNB stock without Board approval, that he transferred significant equity interests in Incus to his father and two business associates in violation of commitments and representations made to the Board, and that he caused Laredo National Bank
, LNB's principal subsidiary, to engage in lending and other transactions with affiliates that violated commitments made to the Board.