2003News

Alvarez Renta lawyers deny payment

The lawyers of Luis Alvarez Renta, the financial consultant in police custody for his ties to the Baninter case, denied that Alvarez Renta had made a RD$5-million payment for consultations with the president of the Dominican Port Authority, Angel Garc?a, as charged by the lawyers of Baninter president, Ram?n B?ez Figueroa. Alvarez Renta?s lawyers say the payment was made on behalf of B?ez Figueroa, in connection to a real estate investment in a tourism project. They maintain that the payment was made by Bank Invest, a company which they purport that Alvarez Renta directed, merely as an instrument of B?ez Figueroa. The lawyers say that Bank Invest was sold by Alvarez Renta to B?ez Figueroa in 2001, regardless of the contract establishing that Alvarez Renta would stay on as president of the company and continue to manage company accounts for a reasonable time. They explained that is the reason why there are several checks signed by Alvarez Renta and his employees made out to various people and companies.