The Fourth Collegiate Tribunal of the National District has issued sentences of six and two years to three men who operated a stock market office that cheated their investors of more than RD$50 million. The District Attorney’s office reported that defendants Dionicio Homero Cabral Pimentel and Jose Ramon Attias Pena were sentenced to six years in prison together with Samir Cabral Pimentel who received a two-year sentence after being found guilty “of committing fraud worth millions of pesos to the detriment of dozens of people.” The men were convicted of violating regulations issued by the Superintendence of Values, receiving assets for more than RD$50 million for which they issue commercial paper, making their clients believe that their businesses were functioning as a stock market seat that was duly authorized.
As long back as 2005, these men had been notified that they were not authorized to serve as intermediaries for assets. The company named Attias-Engineers n Architects, S A, had issued commercial paper offered to the public for an amount of no less than RD$51,474,580. This was purchased by 66 investors.
The emission of the commercial paper was structured and administered by the stock market firm of Transacciones Global, S.A., headed by Dionisio Homero Cabral Pimentel and managed by Samir Cabral Pimentel. The due date of the paper was 11 April 2006, which was not fulfilled, said prosecutor Karina Concepcion during the hearing. Despite being suspended in March 2007 the Transacciones Global firm together with Attias Engineers n Architects, S.A. continued to issue commercial paper without authorization.