Santiago R E fraud?? 300,000,000 Pesos

gringosabroso

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Oct 16, 2004
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A sister web site had a long story on 2aug06 @ a massive R E fraud in Santiago involving 2 judges & numerous lawyers & public officials.

* The 3 parcels of R E in question evidently belonged to a Santiago, DR insurance compay named "Segna".

* The chief conspirator was & is allegedly Jesus Feliz, a former high gov't official under Pres. Mejia.

* The article was evidently based on a press release issue by Euclides Gutirrez, the present DR Insurance Commissioner.

* Among the identifed alleged conspirators [but not a convicted criminal] was EMI Resorts, the owner of a large hotel in Puerto Plata.

* Does anyone know anything about this developing story or emerging scandal? Thank you.
 

Hillbilly

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Jan 1, 2002
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It was in the papers. Notmuch said. If you've got the balls, they have the opportunity of a lifetime...

HB
 

Mirador

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Apr 15, 2004
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Euclides Gutierrez Felix is a member of the government party (PLD) politbureau and one of the President's closest advisors. He is also a cabinet member. The irony of this accusation is concerning the accused, Mr. Jesus Felix, the former head of the government's department for the prevention of corruption (Departamento de Prevención de la Corrupción Administrativa -DEPRECO) under Hipolito's administration. The basis of the accusation is that Mr. Jesus Felix conspired to obtain title to prime real estate in Santiago at one 10th of its market value, with the collusion of two judges. There has been no formal accussation, and both the former head of DEPRECO and the two judges have publicly denied the accusation.
 

GringoCArlos

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Jan 9, 2002
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Not only that Mirador, but he tried to swipe the land at the same time that Segna was going through bankruptcy. Before they got wiped out, Segna was the largest insurance company in the DR, and the same holding company also owned BanCredito and Tricom.

By slipping this piece of land out of Segna's asset portfolio, they were in fact taking away assets that could be used to pay off their creditors who were owed large amounts of $$.
 

Mirador

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Apr 15, 2004
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Not only that Mirador, but he tried to swipe the land at the same time that Segna was going through bankruptcy. Before they got wiped out, Segna was the largest insurance company in the DR, and the same holding company also owned BanCredito and Tricom.

By slipping this piece of land out of Segna's asset portfolio, they were in fact taking away assets that could be used to pay off their creditors who were owed large amounts of $$.
GringCarlos:

Now the accusation makes sense. Euclides Gutierrez happens to be the head of the office that regulates the insurance business in the DR, the Superintenency of Insurance (Superintendencia de Seguros).