According to businessman and financial consultant Luis Alvarez Renta, former Central Bank governor Jose Luis Malkun and the former president of Banco del Progreso, Pedro Castillo, knew about the checks totaling US$17.1 million, which he is accused of having issued without funds. At the time, Banco del Progreso had purchased Baninter. The checks were meant for the partial reimbursement of loans received from foreign companies and which had been deposited in Baninter. Former president Hipolito Mejia was also informed of the operation. Alvarez Renta insisted that the last checks were held by orders from the former Superintendent of Banks Alberto Atallah and were later paid out after Baninter was intervened by authorities. “Pedro Castillo and Atallah were on the telephone with me when Atallah confirmed that governor Malkun, President Mejia and Pedro Castillo had approved the operation” he said. Alvarez Renta declared that if he is to be accused of those transactions, Malkun, Castillo, and Atallah would also have to be accused for their participation in it.