Official red tape grinds US$22.0M bank fraud probe to a halt

Santo Domingo.- The investigation by the National District Office of the Prosecutor into executives of the shuttered Peravia bank has stalled awaiting a technical report from the Banks Superintendence, which claims that it has yet to conclude that process.

Meanwhile, the bank’s two top chief executives charged with defrauding customers out of more than US$22.0 million in the case had fled the country without warrants issued for their arrest.

The Justice Ministry says they require the Superintendent’s report to prepare the indictment against Peravia bank president José Luis Santoro and vice president Gabriel Arturo Jimenez Aray, despite the 22 criminal complaints filed against them in the National District.

The Banks Superintendence says the technical report not won’t be made available until concluding the evaluation began November 19, when Peravia Bank’s operations were halted.