Thousands of residents in Duarte province have their life savings at risk after the chocolate manufacturer Munné SRL has declared financial problems. The company went from accepting deposits from cacao producers to acting as a financial institution and paying higher interest than banks to lure deposits from people in the province and environs.
Now, lawyers say that the investment scheme has gone awry and affected upwards of RD$2 billion in deposits by the general public. Munne SRL has already recognized it owes upwards of RD$624.8 million to around 5,000 persons. The company was paying 10% interest rate that was up to 4 points above what regulated bank companies were offering. The system collapsed in June 2019.
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N Digital
17 September 2019