NewsWhore
03-06-2009, 03:40 PM
The former president of the board of the Banco de Progreso, Pedro Castillo has been sentenced to serve 10 years in Najayo Jail and to pay a penalty of RD$2 million and RD$12.2 million in compensation to the Grupo Progreso and the Banco Dominicano del Progreso. He was found guilty of fraud totaling RD$14 billion against the bank, asset laundering and hiding information. Castillo was president of the board of the bank from 20 November 1999 to 30 October 2005, when he was removed and investigations began. Last November the Eleventh Circuit Court in Dade County, Miami, Florida, ordered Castillo to pay nearly US$80 million to the Banco del Progreso for having appropriated the banking entity's resources for his own personal use.
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More... (http://www.dr1.com/index.html#9)