EQIBank, a digital bank licensed in Dominica, is currently involved in a legal dispute with US authorities over the seizure of approximately $89 million. These funds were held in accounts linked to the US-based payment provider Capstone Ltd. at institutions including Wells Fargo and JPMorgan Chase.
The bank filed a motion for the return of its property on June 29 in the US District Court for the Eastern District of California. On July 15, US prosecutors filed a forfeiture complaint seeking to permanently claim roughly $84.2 million associated with Capstone Ltd.
EQIBank stated on September 9 that the seized assets account for about 80% of its total monetary holdings. The institution warned that failure to recover these funds could lead to liquidation proceedings. The bank also faces separate US securities fraud allegations filed in February 2026.
The case highlights the jurisdiction of US authorities over offshore banks that utilize US dollar transaction chains. As of late September, the court proceedings remain active, with both the bank’s motion for return of property and the government’s forfeiture complaint pending.
