NewsWhore
09-18-2008, 04:30 PM
Convicted banker Luis Alvarez Renta, who was also president of Wadeville Investments Ltd, Interduty Free and Bankinvest, has been ordered by a US court to pay US$176 million in fines for making fraudulent transfers in relation to the 2003 Baninter bank scandal. The courts had rejected a petition for revision of the judgment that was handed out on 10 September 2008. The court had determined that Alvarez Renta was president of Bankinvest, described as a go-between entity used to transfer money from Baninter to other banks and financial institutions. Alvarez was sentenced to 10 years in jail in the DR for his role in the Baninter case. He has been hospitalized on more than one occasion for alleged health problems.
More... (http://www.dr1.com/index.html#14)
More... (http://www.dr1.com/index.html#14)