NewsWhore
07-02-2008, 05:30 PM
The chief justice of the Dominican Supreme Court, Jorge Subero Isa, has told reporters that the appeal process that was filed against the sentences in the BanInter case is nearly complete. The sentences handed down by the Third Penal Chamber of the Court of Appeals were appealed by all the defendants who received prison sentences. Only the prosecutor's office did not file an appeal. Subero told Hoy reporter Solange Batista that "...the Penal Chamber (of the Supreme Court) should rule within the next 10 or 15 days." According to the Penal Process Code, the Supreme Court will decide whether or not to hear the appeals. If the court decides to hear the appeals, then a date will be set for hearings.
Three Dominican banking executives (Ramon Baez Figueroa, Luis Alvarez Renta and Marcos Baez Cocco) were convicted for mismanagement and money laundering last year for their roles in the 2003 collapse of Banco Intercontinental (Baninter), known as the largest financial collapse in the Caribbean. Reportedly, Baninter collapsed after losing about US$2.2 billion, and the resulting government bailout resulted in 30% inflation and a dramatic increase in poverty as the government paid back all depositors and determined that taxpayers pick up the cost. In the initial judgment, Bank president Ramon Baez Figueroa was acquitted of the more serious charge of money laundering, but this charge was incorporated into the subsequent Court of Appeals review.
Ramon Baez Figueroa was originally sentenced to 10 years in prison and fined RD$2.5 million for violating the General Banking Law (708-65) and sections of the Monetary and Financial Law (183-02). The Court of Appeals had requested a 20-year jail sentence for money-laundering.
More... (http://www.dr1.com/index.html#10)
Three Dominican banking executives (Ramon Baez Figueroa, Luis Alvarez Renta and Marcos Baez Cocco) were convicted for mismanagement and money laundering last year for their roles in the 2003 collapse of Banco Intercontinental (Baninter), known as the largest financial collapse in the Caribbean. Reportedly, Baninter collapsed after losing about US$2.2 billion, and the resulting government bailout resulted in 30% inflation and a dramatic increase in poverty as the government paid back all depositors and determined that taxpayers pick up the cost. In the initial judgment, Bank president Ramon Baez Figueroa was acquitted of the more serious charge of money laundering, but this charge was incorporated into the subsequent Court of Appeals review.
Ramon Baez Figueroa was originally sentenced to 10 years in prison and fined RD$2.5 million for violating the General Banking Law (708-65) and sections of the Monetary and Financial Law (183-02). The Court of Appeals had requested a 20-year jail sentence for money-laundering.
More... (http://www.dr1.com/index.html#10)