[DR1] Baez accuses Lois Malkun

[NewsWhore]

Former banker and president of collapsed Banco Intercontinental (BANINTER) Ramon Baez Figueroa has announced that he will seek the indictment of former Central Bank Governor Jose Lois Malkun for violation of the Monetary and Financial Law when he authorized the disbursement of funds under his custody without fulfilling the due process, which led to the quasi-fiscal deficit and current financial crisis, according to a report by Listin Diario. Baez Figueroa said that he is an interested party as a citizen, and also because he is being accused of creating the so-called quasi-fiscal deficit of RD$55 billion. The serious legal consequences of the open violation of Article 64 of Law 183-02 are a result of Lois Malkun having paid in advance (and not merely guaranteeing, as the law indicates) all the deposits of Baninter and Baninter and Trust, greater than the RD$500,000 limit established by the law. This violation risked the state's resources in excess of what is established by law in the amount of RD$40 billion without the conduction, or without even waiting for the procedure of dissolution and liquidation of the large credit portfolio and valuable assets of Baninter and related companies, and estimated at several tens of billions of pesos, as established by the law. This disregard for the law is what caused the quasi-fiscal deficit, according to Baez Figueroa.

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