Baninter Sentencing: Guilty, Guilty!!

aegap · #1 10-21-2007, 07:23 PM

Condenan a Ramón Báez Figueroa a 10 años de cárcel y al pago de más de RD$63 mil millones en indemnización

Lubrano movió montañas con su fe; Troncoso salió ileso, pero Báez Figueroa y Álvarez Renta seguirán la batalla

Álvarez: "La sentencia es errónea”; Baéz: Conforme con exclusión de lavado y abuso de confianza

..chances are appeals will take over ten years to be resolved.

apostropheman · #2 10-21-2007, 07:35 PM

did you see this yet?

Baninter verdict in real time

GringoCArlos · #3 10-22-2007, 12:00 AM

In the Dominican justice system, it doesn't matter what the verdict is. Right now, I will bet that Sr Baez is not back in a jail cell for more than a total of a week anytime in the next 20 years, and that he will NEVER pay more than 1 million pesos of whatever fine that is eventually determined that he must REALLY pay.

The losers are the dominican people, for the losses caused by this case, and because much of the first world will see that in any case, even one as big as this one, justice in the DR is never realized.

CarpeDReam · #4 10-22-2007, 02:03 AM

Quote:

Originally Posted by GringoCArlos

In the Dominican justice system, it doesn't matter what the verdict is. Right now, I will bet that Sr Baez is not back in a jail cell for more than a total of a week anytime in the next 20 years, and that he will NEVER pay more than 1 million pesos of whatever fine that is eventually determined that he must REALLY pay.

The losers are the dominican people, for the losses caused by this case, and because much of the first world will see that in any case, even one as big as this one, justice in the DR is never realized.

That's a huuuge assumption...this is not the case 100% of the time to say such a thing...

you epitomize the pessimism on this forum...it's never enough... if the verdict wasn't "guilty" (which many assumed and claimed that's how it would play out bc, let's face it "this is the DR we're talking about")...ppl would complain and use it to show how imcompetent the DR is...and now that the verdict is guilty (surprise surprise)...still we find all the negatives we can find...it's almost like some ppl want the DR to fail, they want to find more proof on how corrupt of a country it is just to prove themselves right...es como burlarse del pais...

Squat · #5 10-22-2007, 08:12 AM

My bet is that GringoCarlos'post is 100% right on the money... Time will tell...

Rocky · #6 10-22-2007, 08:25 AM

I think that it's fantastic that they found him guilty.
The strong sentence sends a message too.
If Squat & GringoCarlos are correct that he will get out of it somehow, maybe through appealing the sentence, maybe by running, then it'll be a sad moment for all of those who lost their money, and for those who worked so hard to get the conviction.
Let's hope that they are both wrong.

Chirimoya · #7 10-22-2007, 09:15 AM

There is a basic logical flaw in the verdicts - unless I am missing something important - how could an 'external consultant' launder the bank's money without the collusion of an insider? And if those insiders weren't the other four defendants, who was?

ddalet · #8 10-22-2007, 10:15 AM

The answer is simple, if the outside consultant had discretion over the bank's activities, it could be argued that one party was guilty of money laundering while the other was unaware...

As an outsider it would seem naive to assume this could happen. Who knows what really happened or who knew what.

I am of the opinion that the sentence alone, whether it is carried out or not, is a step forward for the DR.

I also think that members of the previous administration should be brought to justice, that would be an even biggger step.

At least LAR has money-laundering attached to his name for life going forward, meaning that his potential for further damage (at least in the banking industry) is limited.

aegap · #9 10-22-2007, 03:16 PM

dr1 Daily News, ..

Decision on BanInter case
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 3 Dominican Bank Directors Convicted - Forbes.com

Comments on the verdict
The editor of Diario Libre, lawyer and historian Adriano Miguel Tejada, commented that the guilty verdict has served the Dominican judicial system's best interests. While admitting that the verdict would surely be appealed not only by the defense lawyers, but also by the Office for the Prevention of Corruption (now called DPCA), the editor praised the organization and order with which the sentence was pronounced. According to Tejada, in the final analysis the most important thing is that the judicial institutions get good marks from the public and that the system proves that it works. The editor concludes that the sentence lowers the stress levels that were evident in local society, although there is a lot of interest in the authorities' failure to pursue politicians, as in the PEME case.
El Caribe newspaper carries comments by lawyer Ramon Antonio Veras (Negro) who called the verdict "a gift for impunity and a stimulus for white collar crime to continue in the country."

aegap · #10 10-22-2007, 03:19 PM

Quote:

Originally Posted by ddalet

At least LAR has money-laundering attached to his name for life going forward, meaning that his potential for further damage (at least in the banking industry) is limited.

Associated Press, ..

Alvarez Renta had already been found liable in U.S. federal court in Miami for racketeering and fraud in Baniter's collapse. A Panamanian bank also filed a complaint in New York State Supreme Court against him in August for loan fraud.