Isidro Mieses, the Mayor of Sabana Grande de Boya, the town in central Monte Plata province, threw a bucket of freezing water on the too-optimistic people in his town. Now Mieses tells his people that the financial wiz of the town, Mantequilla does not have the money to pay back his fund depositors. Thousands of gullible people had believed in Wilkin García Peguero’s (Mantequilla) claims that he had a unique talent to multiply depositors’ money.
Superintendent of Banks Alejandro Fernandez had alerted in September 2022 that the financial scheme promoted by Mantequilla was a pyramid money scam. Yet the Superintendent said he could not act until someone pressed a claim for non-payment. He also said the deposits were not insured by the government and people were depositing at their own risk.
By the time Fernandez warned the people, thousands...
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