NewsWhore
08-29-2007, 05:30 PM
Prosecutor Francisco Garcia began to present the closing arguments for the state yesterday, representing the Superintendence of Banks and the Central Bank lawyers versus collapsed bank Baninter. Accusations and proof against Ramon Baez Figueroa, Marcos Baez Cocco, Vivian Lubrano, Jesus Maria Troncoso Ferrua and Luis Alvarez Renta were outlined in the first day of closing arguments from 10am to 7pm on Tuesday. The case is based on a Central Bank statement issued on 13 May 2003 whereby Baninter was found to have RD$55 billion worth of irregular or fraudulent operations. The accused are being tried for hiding operations and documents, altering documents and abuse of confidence. The prosecutor presented 14 cases related to the use of funds for bank president Ramon Baez Figueroa's personal gain, and described the procedures as "a fraudulent chain of operations". Nine of the cases were related to the purchase of media (Telecentro-Channel 13), RNN, Channel 27), Antena Latina (Channel 7), Super Canal (Channel 33), Isla Vision (Channel 67-53), and Red Radiodifusoras Centrales using a company, Gaperan, S.A. by means of Baninter accounts overdrafts.
The authorities intervened the bank in 2003 and this is estimated to have cost taxpayers upwards of RD$74 billion when the Mejia government chose to pay back all depositors' money, including funds in offshore banks.
As reported in El Dia, defense lawyers for Ramon Baez Figueroa said they were pleased with the conclusions, which they say ensure that they will be able to prove their client's innocence.
Following the court case closely are members of the Coalition for Transparency and Institutionalism, comprising the Young Entrepreneurs Association (ANJE), Community Action for Progress (ACOPRO), Ecumenical Planning and Action Center (CEPAE), National Council for Private Business (CONEP), Institutionalism and Justice Foundation (FINJUS), Citizen Participation and World Vision.
Interviewed on the Nuria & Huchi talk show on CDN, Servio Tulio Castanos Guzman of FINJUS concurred that such a serious situation would not have been possible without the complicity of the authorities in charge of banking controls.
The coordinator of Citizen Participation, a leading civil society group, said yesterday that anyone who has broken the law must be sent to trial. Rodriguez made the comment after Luis Alvarez Renta, who is standing trial in the Baninter case, asked why Porfirio Rodriguez was not mentioning the former monetary authorities that in his understanding violated monetary and financial law. Rodriguez stated: "Our position is not selective. Everyone who committed violations of the law should be tried, and in this case the bankers have been tried, but also the monetary authorities that violated the law should be taken to court and the legal processes should continue to the last consequences," stated Rodriguez. He called for an end to private and public impunity in the country.
The closing arguments are scheduled to conclude around 7 September, which would then give around 20 days for the judges to issue their verdict and then the period for an appeal would be open. Once this case is over, proceedings for the collapsed bank Bancredito and Banco Mercantil are scheduled to open.
More... (http://www.dr1.com/index.html#13)
The authorities intervened the bank in 2003 and this is estimated to have cost taxpayers upwards of RD$74 billion when the Mejia government chose to pay back all depositors' money, including funds in offshore banks.
As reported in El Dia, defense lawyers for Ramon Baez Figueroa said they were pleased with the conclusions, which they say ensure that they will be able to prove their client's innocence.
Following the court case closely are members of the Coalition for Transparency and Institutionalism, comprising the Young Entrepreneurs Association (ANJE), Community Action for Progress (ACOPRO), Ecumenical Planning and Action Center (CEPAE), National Council for Private Business (CONEP), Institutionalism and Justice Foundation (FINJUS), Citizen Participation and World Vision.
Interviewed on the Nuria & Huchi talk show on CDN, Servio Tulio Castanos Guzman of FINJUS concurred that such a serious situation would not have been possible without the complicity of the authorities in charge of banking controls.
The coordinator of Citizen Participation, a leading civil society group, said yesterday that anyone who has broken the law must be sent to trial. Rodriguez made the comment after Luis Alvarez Renta, who is standing trial in the Baninter case, asked why Porfirio Rodriguez was not mentioning the former monetary authorities that in his understanding violated monetary and financial law. Rodriguez stated: "Our position is not selective. Everyone who committed violations of the law should be tried, and in this case the bankers have been tried, but also the monetary authorities that violated the law should be taken to court and the legal processes should continue to the last consequences," stated Rodriguez. He called for an end to private and public impunity in the country.
The closing arguments are scheduled to conclude around 7 September, which would then give around 20 days for the judges to issue their verdict and then the period for an appeal would be open. Once this case is over, proceedings for the collapsed bank Bancredito and Banco Mercantil are scheduled to open.
More... (http://www.dr1.com/index.html#13)