The government revealed to the press during the meeting at the Presidential Palace that another of the irregularities is the agreement Baninter?s leading shareholder Ram?n B?ez Figueroa (RBF) reached with Azor Hazoury, leading officer of the Asociaci?n Popular de Ahorros y Pr?stamos loans and savings financial company in August 2002. The plan was to merge the two organizations, which would have been an illegal operation as it is contrary to the law.
\nModifications to the Monetary and Financial Law that was in Congress would have to have been introduced to perform the merger. The AP&AP restructuring in September 2002 promoted Hazoury to president. The Central Bank report indicates that Hazoury had the majority control of the board of the Associaci?n. A bank restructuring in Thus, Hazoury, according to the report, proceeded to sell B?ez Figueroa the rights to the merger of the Associaci?n with Baninter for US$90 million, for which he would have been paid with a US$55-million advance, with the remainder to follow once the merger became effective.
\nFor Baninter, the report states, this was of crucial importance because it gave the bank access to an additional RD$10 billion in deposits in the leading loans and savings bank, which could feed the centrifuge of the clandestine parallel bank.
\nThe report also reveals that Hazoury and those linked to him would have received US$55 million, distributed in US$14 million in cash and US$12.5 million in certificates of deposit in Baninter and Trust, but which amounts were never registered in the books, and RD$503 million in financial certificates of Baninter.
\nThe report indicates that by instructions of the Governor of the Central Bank, Azor Hazoury was invited to visit the Central Bank and return the US$55 million, as well as any interest received from middle of August 2002 to the end of March 2003.
\nReportedly, the Central Bank has recovered US$14.78 million transferred to the BCRD account in the Federal Reserve of New York, as well as the cancellation of certificates of deposit in Baninter and trust for USR12.5 million, the cancellation of RD$461.6 million in financial certificates of Baninter, RD$42 million delivered in cash (RD$10.2 million) and in checks (RD$31.8 million). Also received was a check for US$500,684.93, corresponding to interest payments made on certificates of deposit of US$12.5 million in Baninter Trust.<\/p>\n","protected":false},"excerpt":{"rendered":"
The government revealed to the press during the meeting at the Presidential Palace that another of the irregularities is the agreement Baninter?s leading shareholder Ram?n B?ez Figueroa (RBF) reached with Azor Hazoury, leading officer of the Asociaci?n Popular de Ahorros y Pr?stamos loans and savings financial company in August 2002. The plan was to merge … <\/p>\n