The National Cooperatives Council and the Dominican Cooperatives Federation have complained that the Autonomous University of Santo Domingo (UASD) rector’s office has retained RD$425 million that belongs to the university cooperative.
They went on to say that the cooperative at the UASD was on the verge of collapse and they would be taking the UASD administration to court. As a result of this situation, the cooperative has not been able to approve any loans to its clients since last year due to the retained funds.
The administrative president of the Institute for Development of Cooperative Credit (Idecoop), Pedro Corporan, accused the UASD administration of fraud and abuse of trust.
Dicen cooperativa UASD colapsará porque autoridades de la academia retienen RD$425 millones