NewsWhore
10-22-2007, 05:00 PM
The three-judge panel, made up of Santiago Sanchez, Esmirna Mendez and Pilar Rufino, has issued its decision in the case involving the high-ranking executives of the Banco Intercontinental (Baninter). The verdict was guilty for two of the accused, Ramon Baez Figueroa and Luis Alvarez Renta, but not guilty for their associates Vivian Lubrano de Castillo and Jesus Maria Troncoso. The magistrates ordered the two guilty parties to serve 10-year jail sentences and the payment of RD$63 billion in damages and fees for violation of Monetary and Financial Law 83-02. Ramon Baez Figueroa was acquitted of charges of asset laundering, unlike Alvarez Renta, who had been accused of being an accomplice in asset laundering in the case. The reading of the sentence took over five hours. As part of the sentence, the judges ordered the sale of a series of radio stations, television channels, aircraft, a villa at Casa de Campo and vehicles, and for the defendants to pay the legal costs. The lawyers for the convicted bankers have said that they will appeal the sentences. They have 20 days to appeal.
The banking story is being carried in the business press abroad.
See http://www.forbes.com/feeds/ap/2007/10/21/ap4243367.html
More... (http://www.dr1.com/index.html#6)
The banking story is being carried in the business press abroad.
See http://www.forbes.com/feeds/ap/2007/10/21/ap4243367.html
More... (http://www.dr1.com/index.html#6)