Local September 2, 2013 | 8:01 am

Central Bank to disclose deal reached in Baninter US$2.5B fraud

Santo Domingo.- The deal struck by the monetary authorities and former Baninter bank president Ramon Baez Figueroa to not object his release on parole will be disclosed no later than tomorrow, the Central Bank said on its website, and confirmed by its lawyer Carlos Salcedo on Sunday.

"One of the legal procedures is still lacking and which will eventually be completed between Monday (today) and Tuesday. Once the legal process has been exhausted it will be uploaded to the website, together with a statement of defense counsel," said Salcedo, who represented the Central Bank in the proceeding which led to Baez Figueroa’s parole.

Baez, who was president of Baninter during its collapse, was sentenced to 10 years in prison and fined RD$63.0 million on the conviction of fraud that cost Dominican taxpayers US$2.5 billion.

Baez, who had served more than five years of his 10-year sentence at Najayo prison, San Cristobal, was released last week.

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