NewsWhore
02-25-2011, 04:20 PM
The governmental BanReservas, financier and realtor for the Torre Atiemar, was the only bidder at the auction of the building held yesterday.
The luxury high-rise apartment building in Santo Domingo was confiscated from Spaniard Arturo del Tiempo Marques, who is in prison in Spain awaiting trial on charges of smuggling 1,200 kilos of cocaine into Spain. The bidding price was US$34.7 million. The luxury apartments were originally sold to several high-ranking government officials, making for scandalous revelations once the drug trafficking case against Del Tiempo became known. Diario Libre reports that the next step is for the deeds of each apartment to be transferred to the name of BankReservas that will collect on a debt from the promoters for the building for US$15 million. The remainder would be paid to construction workers, legitimate investors and the construction company. The remainder will be deposited in a prosecutor general office bank account until the court case against Del Tiempo concludes in Spain. The judge's decision is controversial given that the case against Del Tiempo has not ended in Spain. See the ongoing discussion in the DR1 forums www.dr1.com/forums/living/112311-torre-atiemar.html (http://www.dr1.com/forums/living/112311-torre-atiemar.html)
More... (http://www.dr1.com/index.html#4)
The luxury high-rise apartment building in Santo Domingo was confiscated from Spaniard Arturo del Tiempo Marques, who is in prison in Spain awaiting trial on charges of smuggling 1,200 kilos of cocaine into Spain. The bidding price was US$34.7 million. The luxury apartments were originally sold to several high-ranking government officials, making for scandalous revelations once the drug trafficking case against Del Tiempo became known. Diario Libre reports that the next step is for the deeds of each apartment to be transferred to the name of BankReservas that will collect on a debt from the promoters for the building for US$15 million. The remainder would be paid to construction workers, legitimate investors and the construction company. The remainder will be deposited in a prosecutor general office bank account until the court case against Del Tiempo concludes in Spain. The judge's decision is controversial given that the case against Del Tiempo has not ended in Spain. See the ongoing discussion in the DR1 forums www.dr1.com/forums/living/112311-torre-atiemar.html (http://www.dr1.com/forums/living/112311-torre-atiemar.html)
More... (http://www.dr1.com/index.html#4)