?php get_header(); ?>

AP News


Florida AP News: Dominican Financier Found Liable in Miami Bank Fraud Suit


Florida AP News: Dominican Financier Found Liable in Miami Bank Fraud Suit

MIAMI – A powerful financier from the Dominican Republic has been found liable in an illegal money transfer case, handing a victory to authorities trying to recoup millions of dollars lost in the 2003 collapse of that country’s third-largest bank. The jury found Luis Alvarez Renta liable Monday on three counts of racketeering and one of fraudulent money transfer in the civil court case stemming from his actions in the collapse of the Banco Intercontinental or Baninter. It also awarded the Dominican government commission liquidating Baninter $59 million, which will be tripled. This was the first trial connected to the collapse of Baninter. After the bank folded, authorities found that […]