Andorra's credit rating downgraded by S&P amid US accusations of bank money laundering scheme

March 13, 2015 10:08 AM

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Andorra's credit rating downgraded by S&P amid US accusations of bank money laundering scheme

People walk in front of Spain's Central Bank in Madrid, Spain, Thursday, March 12, 2015. The entire board of Spain’s Banco de Madrid bank catering to wealthy clients has resigned after its Andorran owner was accused by the U.S. of money laundering for clients from China, Russia and Venezuela, Banco de Madrid said Thursday. (AP Photo/Paul White) (The Associated Press)

A man speaks on a cell phone outside a Banco Madrid office in Madrid, Spain, Thursday, March 12, 2015. The entire board of Spain’s Banco de Madrid bank catering to wealthy clients has resigned after its Andorran owner was accused by the U.S. of money laundering for clients from China, Russia and Ven...

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