Ex Dominican Central Banker charged with embezzling RD$10.6B

DominicanToday.com - The Justice Ministry’s anti-corruption department (DPCA) yesterday charged former Central banker Jose Lois Malkún, the ex Central Bank lieutenant governor Felix Calvo, the ex manager Cesar Apolinar Veloz, and the ex legal adviser Manuel Rubio Cristóforis with embezzling RD$10.6 billion, during the bankruptcy process of the collapsed bank Bancredito.

The DPCA requested a criminal trial stemming from the Central Bank’s accusation of embezzlement, malfeasance, conspiracy, forgery and breach of trust. It states that after that Bancredito liquidity problems, the Central Bank provided RD$20 billion in advances and re-discounts, much of whose transfer violated the Monetary and Financial Law.

The DPCA states that on July, 2003 a contract was signed with the Central Bank, represented by Malkún as guarantor of extra-territorial commitments. From that operation 18 promissory notes of RD$10.66 billion were paid, in issues of credit portfolios of Bancredito’s various affiliates - which according to the accusation- were removed from the Central Bank’s archives and given to individuals.

Go back | Date: 21 Aug 2009
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