NewsWhore
07-13-2006, 03:10 PM
The Senate has approved a controversial US$132 million loan contract for equipping the police through Sun Land, a company that was contracted during the previous government administration for several questionable credit agreements, which were detrimental to the state's interests, according to Clave Digital.
This new contract includes a US$56.9 million loan agreement with an unnamed bank and another US$75.5 million with Sun Land, which does not demonstrate the financial capacity for this sort of transaction. According to a US credit report by Dun & Bradstreet, quoted by Clave Digital, the company only has four employees and annual sales of US$260,000 in 2005.
The recent contract was signed by the Interior and Police Minister Franklin Almeyda Rancier, Finance Minister Vicente Bengoa, and by Daniel Mejia in representation of Sun Land.
The purpose of the loan is to finance the Integrated Sustainable Democratic Security Program. The company reports as main suppliers Carimex Corp, which is registered as inactive in the Corporation Division of the State of Florida, and GP International Consulting, which does not appear to be incorporated in that state. The Senators did not consider that the name of the financial institution that will guarantee the US$132 million loan does not appear in the contract.
Neither did they notice that the Dominican state is borrowing US$75 million from a company like Sun Land, which does not have the financial capacity for such a transaction.
The state is going to purchase hundreds of vehicles and communications equipment valued at over US$100 million, without indicating the brand or the year of manufacture. The contract includes 610 double-cabin 4x4 pick-up trucks at US$49,000 each. Also included are police motorcycles at US$24,444, more that the cost of the Harley Davidson motorcycles currently being used for patrolling, and 800 vehicle computers for patrol vehicles at US$10,000 each. All this equipment can be purchased locally for considerably lower amounts. A tender was not head for the purchase of this equipment.
Link To Original Article (http://www.dr1.com/index.html#7)
This new contract includes a US$56.9 million loan agreement with an unnamed bank and another US$75.5 million with Sun Land, which does not demonstrate the financial capacity for this sort of transaction. According to a US credit report by Dun & Bradstreet, quoted by Clave Digital, the company only has four employees and annual sales of US$260,000 in 2005.
The recent contract was signed by the Interior and Police Minister Franklin Almeyda Rancier, Finance Minister Vicente Bengoa, and by Daniel Mejia in representation of Sun Land.
The purpose of the loan is to finance the Integrated Sustainable Democratic Security Program. The company reports as main suppliers Carimex Corp, which is registered as inactive in the Corporation Division of the State of Florida, and GP International Consulting, which does not appear to be incorporated in that state. The Senators did not consider that the name of the financial institution that will guarantee the US$132 million loan does not appear in the contract.
Neither did they notice that the Dominican state is borrowing US$75 million from a company like Sun Land, which does not have the financial capacity for such a transaction.
The state is going to purchase hundreds of vehicles and communications equipment valued at over US$100 million, without indicating the brand or the year of manufacture. The contract includes 610 double-cabin 4x4 pick-up trucks at US$49,000 each. Also included are police motorcycles at US$24,444, more that the cost of the Harley Davidson motorcycles currently being used for patrolling, and 800 vehicle computers for patrol vehicles at US$10,000 each. All this equipment can be purchased locally for considerably lower amounts. A tender was not head for the purchase of this equipment.
Link To Original Article (http://www.dr1.com/index.html#7)