Santo Domingo.- Dominican Republic’s Central Bank on Wednesday disclosed the agreement reached with former banker Ramon Baez Figueroa, which led to his release on parole after serving par of a 10-year sentence on a conviction of fraud which cost taxpayers US$2.5 billion.
"The agreement to desist and acceptance of desisting from prosecution" suggests the possible recovery of around RD$1.5 billion in assets owned by or bought with Baninter funds, but listed as owned by other companies.
The pact posted on its website also says that in negotiations held until December 31, 2012, RD$14.6 billion had been recovered from Baninter, whose collapse in 2003 sent the economy into a tailspin.
The agreement doesn’t include the also convicts Vivian Lubrano de Castillo, Marcos Báez Cocco and Luis Alvarez Renta.