CB tracks Alvarez's assets

[NewsWhore]

The Dominican monetary authorities have identified some 30 bank accounts said to belong to financier and former BanInter consultant Luis Alvarez Renta. Clave weekly newspaper reports that efforts to identify the property and resources of the economist, who is being processed for alleged asset laundering in the BanInter case, have extended to three states in the US, as well as to Switzerland, Panama and the DR. According to Central Bank Legal Consultant Fidel Pichardo Baba, the initiative is aimed at bringing about the execution of a US court ruling that sentenced Alvarez Renta to pay the BanInter Liquidation Commission US$176.9 million. The Dominican authorities expect to mirror the US sentence in the country. Assets in Panama are being tracked down through the Banking Superintendence there. In the US state of Colorado, the authorities have located assets that allegedly belong to Alvarez Renta but are in the name of corporations. The Swiss bank accounts are practically empty, according to Pichardo Baba. Central Bank authorities, the BanInter Liquidation Commission and the Banking Superintendence have requested the seizure of Listin Diario shares and other assets related to the accused in the BanInter case, Ramon Baez Figueroa, Marcos Baez Cocco, Vivian Lubrano de Castillo, Luis Alvarez Renta and Jesus Maria Troncoso Ferrua. The petition was filed with the Attorney General's Department.

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