2003News

CB opposes Baninter bail bid

Lawyers for the Central Bank and Banking Superintendence have registered their opposition to the application for bail made last week on behalf of accused Baninter executives Ramon Baez Figueroa and Marcos Baez Cocco, who have been in police custody since 14 May. The state legal team argued that bail would be illegal in this case, as the two are in custody under suspicion of money laundering offences. The Baninter defense team has taken out full-page, paid advertisement in today’s newspapers to reinforce their request that their clients be released under the conditions of bail. The advertisements are headlined: “The provisional liberty on bail of Ramon Baez Figueroa and Marcos Baez Cocco is based on constitutional rights and the protection of the presumption of innocence.” The two are due to present their petition to the Baninter case’s legal referee, Judge Eduardo Sanchez Ortiz, on Monday morning.