Peravia bank execs embezzled US$315.0M: Superintendence

Santo Domingo.- The Banks Superintendence on Thursday said executives of the collapsed Peravia bank embezzled RD$1.42 billion (US$315 million), equal to 75.3% of the S & L’s total loans.

The report submitted to the National District Office of the Prosecutor by the regulator that the Peravia bank fraud was committed through 292,000 loans at the expense of depositors.

The Superintendence revealed that over 80% of Peravia’s transactions were fraudulent, resorting to forged signatures to cash checks written to suppliers, granting loans irregularly and identity theft .