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===Investigation===
On June 30, 2022, the Puerto Rico Office of the Commissioner of Financial Institutions (OCIF) announced they had suspended the operations of Puerto Rico-based Euro Pacific International Bank, which officials said was under suspicion of facilitating money laundering and offshore tax evasion.<ref>{{Cite news|url=https://apnews.com/article/caribbean-money-laundering-puerto-rico-san-juan-efb421edca78f0d477c665d346658373|title=Puerto Rico suspends operations of bank amid global probe|newspaper=AP News|date=June 30, 2022|last1=Coto|first1=Dánica}}</ref> The OCIF ordered Euro Pacific Bank to be shut down due to insufficient capitol and committed the bank to maintaining cash reserves sufficient to cover all deposits, outstanding debts to creditors, and other operating expenses.{{CN}} Schiff claimed this was due to the allegations by 60 Minutes Australia, The Age newspaper, and the subsequent investigations, saying, "There was no way those allegations were true, but once those stories broke, the bank's business imploded".<ref name="Robles=2022">{{Cite news |last=Robles |first=Frances |date=9 August 2022 |title=Peter Schiff Has a Deal With Puerto Rico to Liquidate His Euro Pacific Bank, He Says |language=en-US |website=[[The New York Times]] |url=https://www.nytimes.com/2022/08/09/business/euro-pacific-peter-schiff.html |url-status=live |archive-url=https://web.archive.org/web/20231229032633/https://www.nytimes.com/2022/08/09/business/euro-pacific-peter-schiff.html |archive-date=29 December 2023 |access-date=4 October 2022}}</ref> Operation Atlantis yielded no charges of money laundering or any other illegal activity.<ref name="Robles=2022" /> In 2022 Schiff filed civil action against the Nine Network and The Age newspaper for defamation over the Australian 60 Minutes interview and subsequent Age articles.<ref name="Matthew-2023">{{Cite web |last=Goldstein |first=Matthew |date=1 December 2023 |title=Australian Media Company to Pay Peter Schiff to End Defamation Suit |url=https://www.nytimes.com/2023/12/01/business/peter-schiff-defamation-settlement-nine.html |url-status=live |archive-url=https://web.archive.org/web/20231208120430/https://www.nytimes.com/2023/12/01/business/peter-schiff-defamation-settlement-nine.html |archive-date=8 December 2023 |access-date=8 December 2023 |website=[[The New York Times]]}}</ref> On November 21 the civil action was settled.<ref name="Matthew-2023" /> As part of the settlement, Schiff was paid $550,000 by Nine Networks and The Age, and all versions of the broadcast were permanently removed by the respondents.<ref name="Matthew-2023" />
==Economic and public policy views==
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