[DR1] US judge ruling favors Castillo

[NewsWhore]

A judge from the New York State Supreme Court has ordered a provisional embargo on the accounts of former Banco del Progreso executive president Pedro Castillo to be stopped. The decision also affects accounts of the firm "First Affiliated Securities". The embargo had been placed upon the request of the Banco del Progreso Board of Directors, according to a report by Listin Dairio. Judge Richard B. Lowe III made his decision after refusing to approve the permanent embargo on Castillo's accounts on the grounds that Banco del Progreso and other plaintiffs had not presented sufficient evidence that the former banker had acted fraudulently nor are there facts that support the allegation of fraud. The judge also considered the fact that the prosecution was requesting an embargo on assets that are not located in the State of New York.

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