Identifier
Created
Classification
Origin
08SANTODOMINGO561
2008-04-18 18:36:00
UNCLASSIFIED
Embassy Santo Domingo
Cable title:
DOMINICAN REPUBLIC: BANINTER BANKING CONVICTIONS
how-toVZCZCXYZ0000 PP RUEHWEB DE RUEHDG #0561 1091836 ZNR UUUUU ZZH P 181836Z APR 08 FM AMEMBASSY SANTO DOMINGO TO RUEHC/SECSTATE WASHDC PRIORITY 0523 INFO RUEHZA/WHA CENTRAL AMERICAN COLLECTIVE PRIORITY RUEAIIA/CIA WASHINGTON DC PRIORITY RUCOWCV/CUSTOMS CARIBBEAN ATTACHE MIAMI FL PRIORITY RUEAWJA/DEPT OF JUSTICE WASHDC PRIORITY RUEATRS/DEPT OF TREASURY WASHDC PRIORITY RHMCSUU/FBI WASHINGTON DC PRIORITY RUEAHLC/HOMELAND SECURITY CENTER WASHINGTON DC PRIORITY RUEPINS/HQ BICE INTEL WASHINGTON DC PRIORITY RHEFHLC/HQS DHS WASHDC PRIORITY RUCPDOC/USDOC WASHDC PRIORITY 1735 RUMISTA/CDR USSOUTHCOM MIAMI FL PRIORITY
UNCLAS SANTO DOMINGO 000561
SIPDIS
SIPDIS
DEPT FOR WHA, WHA/CAR, WHA/EPSC, EB/IFD/OMA
DEPT PLEASE PASS SEC, FEDERAL RESERVE
DOJ FOR OIA (FARRAR AND KRANTZ)
SOUTHCOM ALSO FOR POLAD
E.O. 12958: N/A
TAGS: EFIN KJUS KCOR PGOV DR
SUBJECT: DOMINICAN REPUBLIC: BANINTER BANKING CONVICTIONS
UPHELD/EXPANDED ON APPEAL
REF: A. 2007 SANTO DOMINGO 2721
B. 2007 SANTO DOMINGO 825
UNCLAS SANTO DOMINGO 000561
SIPDIS
SIPDIS
DEPT FOR WHA, WHA/CAR, WHA/EPSC, EB/IFD/OMA
DEPT PLEASE PASS SEC, FEDERAL RESERVE
DOJ FOR OIA (FARRAR AND KRANTZ)
SOUTHCOM ALSO FOR POLAD
E.O. 12958: N/A
TAGS: EFIN KJUS KCOR PGOV DR
SUBJECT: DOMINICAN REPUBLIC: BANINTER BANKING CONVICTIONS
UPHELD/EXPANDED ON APPEAL
REF: A. 2007 SANTO DOMINGO 2721
B. 2007 SANTO DOMINGO 825
1. In a key blow to impunity, the 3rd Chamber of the National
District's Court of Appeals early this morning upheld the
convictions of senior banking officials involved in the
disastrous 2003 bankruptcy of Banco Intercontinental
(Baninter),made additional findings of guilt for a
previously convicted individual, and made completely new
findings of guilt for a third, who had initially been
acquitted in the trial court. (See REFTELS for background
and trial court decision.) The critical points of the most
recent decision are detailed below:
-- Ex-bank President Ramon "Ramoncito" Baez Figueroa:
conviction for violation of monetary and banking laws upheld,
as was the trial court's imposition of a 10-year prison
sentence;
-- Ex-bank Vice President Marcos Baez Cocco: conviction for
violation of monetary and banking laws upheld; a new
conviction for money laundering entered; and a new sentence
of 10 years incarceration (to run concurrently with the
8-year sentence previously imposed for his violation of
monetary and banking laws) imposed;
-- Dominican-American economist and financier Luis Alvarez
Renta: conviction for money laundering was upheld, as was the
trial court's imposition of a 10-year sentence; and
-- Ex-Bank Vice-President Vivian Lubrano de Castillo: new
conviction entered for "abuse of confidence" (she was
previously acquitted by the trial court, but is now held to
have had knowledge of banking law violations and to have
failed in her legal duty to act),coupled with the imposition
of a 5-year sentence and the obligation to pay restitution in
the amount of 1.5 million pesos (approximately 44,000 USD).
2. Defendants will remain free pending the results of a
further appeal to the Dominican Supreme Court of what
prosecutors and Central Bank attorneys have deemed a
"historic" decision.
3. Comment: This decision, in addition to upholding judicial
integrity in the fight against impunity, has done much to
improve the legal underpinnings of the initial convictions.
Gone, now, are at least some of the eye-rasing disparities
found in the trial court's verdict (e.g., conviction of Renta
for money laundering but acquittal of Baez Cocco),as well as
the initial sentencing disparities (i.e., each of the three
principal defendants are now receiving identical sentences).
While the next phase of the appeals process will undoubtedly
drag on for quite some time, the chances of these convictions
being upheld on final appeal have markedly improved. End
comment.
FANNIN
SIPDIS
SIPDIS
DEPT FOR WHA, WHA/CAR, WHA/EPSC, EB/IFD/OMA
DEPT PLEASE PASS SEC, FEDERAL RESERVE
DOJ FOR OIA (FARRAR AND KRANTZ)
SOUTHCOM ALSO FOR POLAD
E.O. 12958: N/A
TAGS: EFIN KJUS KCOR PGOV DR
SUBJECT: DOMINICAN REPUBLIC: BANINTER BANKING CONVICTIONS
UPHELD/EXPANDED ON APPEAL
REF: A. 2007 SANTO DOMINGO 2721
B. 2007 SANTO DOMINGO 825
1. In a key blow to impunity, the 3rd Chamber of the National
District's Court of Appeals early this morning upheld the
convictions of senior banking officials involved in the
disastrous 2003 bankruptcy of Banco Intercontinental
(Baninter),made additional findings of guilt for a
previously convicted individual, and made completely new
findings of guilt for a third, who had initially been
acquitted in the trial court. (See REFTELS for background
and trial court decision.) The critical points of the most
recent decision are detailed below:
-- Ex-bank President Ramon "Ramoncito" Baez Figueroa:
conviction for violation of monetary and banking laws upheld,
as was the trial court's imposition of a 10-year prison
sentence;
-- Ex-bank Vice President Marcos Baez Cocco: conviction for
violation of monetary and banking laws upheld; a new
conviction for money laundering entered; and a new sentence
of 10 years incarceration (to run concurrently with the
8-year sentence previously imposed for his violation of
monetary and banking laws) imposed;
-- Dominican-American economist and financier Luis Alvarez
Renta: conviction for money laundering was upheld, as was the
trial court's imposition of a 10-year sentence; and
-- Ex-Bank Vice-President Vivian Lubrano de Castillo: new
conviction entered for "abuse of confidence" (she was
previously acquitted by the trial court, but is now held to
have had knowledge of banking law violations and to have
failed in her legal duty to act),coupled with the imposition
of a 5-year sentence and the obligation to pay restitution in
the amount of 1.5 million pesos (approximately 44,000 USD).
2. Defendants will remain free pending the results of a
further appeal to the Dominican Supreme Court of what
prosecutors and Central Bank attorneys have deemed a
"historic" decision.
3. Comment: This decision, in addition to upholding judicial
integrity in the fight against impunity, has done much to
improve the legal underpinnings of the initial convictions.
Gone, now, are at least some of the eye-rasing disparities
found in the trial court's verdict (e.g., conviction of Renta
for money laundering but acquittal of Baez Cocco),as well as
the initial sentencing disparities (i.e., each of the three
principal defendants are now receiving identical sentences).
While the next phase of the appeals process will undoubtedly
drag on for quite some time, the chances of these convictions
being upheld on final appeal have markedly improved. End
comment.
FANNIN