A bank linked to imprisoned Ponzi schemer Scott Rothstein has been fined $6.5 million by federal regulators for failing to report money laundering activity.
Coral Gables-based Gibraltar Private Bank and Trust Co. was fined $4 million by the Treasury Department's Financial Crimes Enforcement Network for failing to file 120 suspicious activity reports connected to Rothstein's scheme. The bank was also fined $2.5 million by the Office of the Comptroller of the Currency for similar failures.
Bank officials did not immediately respond Friday to a telephone call seeking comment.
Rothstein is serving a 50-year prison sentence for operating a $1.2 billion Ponzi scheme that revolved around investments in phony court settlements. A total of 29 people have been convicted in the scam, which imploded in late 2009.