Local July 4, 2013 | 3:24 pm

Opposition leader faces RD$10.0B breach of trust suit

Santo Domingo.- The company Bello Veloz filed suit against opposition PRD party president Miguel Vargas on breach of trust, according to papers filed at the National District Office of the Prosecutor Thursday.

Businessman Bolivar Bello Veloz said in 1992 he sold to Vargas a property in the upscale sector Arroyo Hondo worth RD$6.0 billion, but debt has now risen to RD$10.0 billion.

"These properties are now being occupied by third parties through contracts they say were bought from the engineer Vargas Maldonado and some of his associates. To this day he has yet to honor his commitment with their owner," said company attorney Olivo Bello, quoted by elnacional.com.do.

Bolivar Bello said he bought the property from Plaza Caribe and borrowed money for Vargas to finish it, but the politico then sold the property and "never gave them any of the money."

The papers note that the residential project Jardines del Arroyo was built on the lot and allege that Vargas sold it to third parties.

Bolivar Bello adds that he has been trying to contact Vargas since 1992, but without success.

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