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Baninter
Banco Intercontinental (or BANINTER) was the second largest privately held commercial bank in the Dominican Republic before collapsing in 2003 in a fraud tied to political corruption. Ramón Báez Figueroa and expansion of BANINTER Banco Intercontinental was created in 1986 by Ramón Báez Romano, a businessman and former Industry Minister. Later, Ramón Báez Figueroa, took over the bank. BANINTER Group owned Listín Diario; four television stations, a cable television company, and more than 70 radio stations. Bank crisis On April 7, 2003, the government took control of BANINTER. Báez Figueroa was arrested on May 15, 2003 along with BANINTER vice presidents Marcos Báez Cocco and Vivian Lubrano de Castillo, the secretary of the Board of Directors, Jesús M. Troncoso, and Luis Alvarez Renta, on charges of bank fraud, money laundering and concealing information from the government as part of a fraud scheme of more than RD$55 billion (US$2.23 billion). The sum was equivalent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ramón Báez Figueroa
Ramón Buenaventura Báez Figueroa (born in 1956) is the former president of Banco Intercontinental (BANINTER) from the Dominican Republic, accused in 2003 of masterminding the country's most spectacular banking fraud scandal, amounting to more than US$2.2 billion ($ billion today). Family and early life Descendant of two Dominican presidents (Buenaventura Báez and Ramón Báez Machado), Báez Figueroa comes from an influential Dominican family. His father is the entrepreneur Ramón Báez Romano, grandson of former president Ramón Báez Machado. He married María Rosa Zeller Barrous, they had 2 children and divorced. On 12 January 1997, he remarried to Patricia Álvarez DuBreil, the granddaughter of the industrialist Horacio Álvarez Saviñón and cousin-niece of Luis Álvarez Renta, at Casa de Campo The Casa de Campo (, for Spanish: ''Country House'') is the largest public park in Madrid. It is situated west of central Madrid, Spain. It gets its name 'Country House ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marino Vinicio Castillo
Marino Vinicio Castillo Rodríguez (born July 18, 1931), better known as Vincho, is a prominent Dominican lawyer, and controversial figure in Dominican politics. He is the president of the conservative political party National Progressive Force (Fuerza Nacional Progresista), and served as the main defense attorney of Ramón Báez Figueroa, prosecuted for the largest bank fraud in Dominican history, the Baninter case. Early life and family Castillo (born in San Francisco de Macorís, Dominican Republic) is the son of Pelegrín Castillo Agramonte, also an attorney and founder of a law firm that Vincho maintains until today, and Narcisa Rodríguez. He married Sogela Semán, the daughter of Lebanese immigrants, and begat his childs Pelegrín Horacio, Juárez Víctor, , and Sogela María. His paternal grandfather was first cousin of Matías Ramón Mella Castillo, one of the Founding Fathers of the Dominican Republic. Career in Politics During the regime of Rafael Trujillo, V ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ramón Báez Romano
Ramón Báez Romano (4 March 1929 – 7 March 2022) was a Dominican businessman, politician, and golfer. Coming from one of the most influential families in the Dominican Republic, he was Minister of Industry and Trade during the administration of President Antonio Guzmán. He was CEO of ''Rosario Dominicana'', ''Baninter'', and ''Listín Diario'', among others. Romano was born on 4 March 1929. He is a member of the Dominican Golf Hall of Fame. Romano died on 7 March 2022, three days after his 93rd birthday. Ancestry Báez was a descendant of Spanish conquistadors Rodrigo de Bastidas and Gonzalo Fernández de Oviedo y Valdés, the Dominican presidents Buenaventura Báez and Ramón Báez, and the Jesuit priest , image = Ihs-logo.svg , image_size = 175px , caption = ChristogramOfficial seal of the Jesuits , abbreviation = SJ , nickname = Jesuits , formation = , founders = ... and historian An ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dominican Republic
The Dominican Republic ( ; es, República Dominicana, ) is a country located on the island of Hispaniola in the Greater Antilles archipelago of the Caribbean region. It occupies the eastern five-eighths of the island, which it shares with Haiti, making Hispaniola one of only two Caribbean islands, along with Saint Martin, that is shared by two sovereign states. The Dominican Republic is the second-largest nation in the Antilles by area (after Cuba) at , and third-largest by population, with approximately 10.7 million people (2022 est.), down from 10.8 million in 2020, of whom approximately 3.3 million live in the metropolitan area of Santo Domingo, the capital city. The official language of the country is Spanish. The native Taíno people had inhabited Hispaniola before the arrival of Europeans, dividing it into five chiefdoms. They had constructed an advanced farming and hunting society, and were in the process of becoming an organized civilization. The Taínos also in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Fraud
Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. In many instances, bank fraud is a criminal offence. While the specific elements of particular banking fraud laws vary depending on jurisdictions, the term bank fraud applies to actions that employ a scheme or artifice, as opposed to bank robbery or theft. For this reason, bank fraud is sometimes considered a white-collar crime. Types of bank fraud Accounting fraud In order to hide serious financial problems, some businesses have been known to use fraudulent bookkeeping to overstate sales and income, inflate the worth of the company's assets, or state a profit when the company is operating at a loss. These tampered records are then used to seek investment in the company's bond or security issues or to make fraudulent loan applications in a final ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with corporations or a large/middle-sized business to differentiate it from a retail bank and an investment bank. Commercial banks include private sector banks and public sector banks. History The name ''bank'' derives from the Italian word ''banco'' "desk/bench", used during the Italian Renaissance era by Florentine bankers, who used to carry out their transactions on a desk covered by a green tablecloth. However, traces of banking activity can be found even in ancient times. In the United States, the term commercial bank was often used to distinguish it from an investment bank due to differences in bank regulation. After the Great Depression, through the Glass–Steagall Act, the U.S. Congress required that commercial banks only engage in ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Racketeering
Racketeering is a type of organized crime in which the perpetrators set up a coercive, fraudulent, extortionary, or otherwise illegal coordinated scheme or operation (a "racket") to repeatedly or consistently collect a profit. Originally and often still specifically, racketeering may refer to an organized criminal act in which the perpetrators offer a service that will not be put into effect, offer a service to solve a nonexistent problem, or offer a service that solves a problem that would not exist without the racket. However, racketeers may offer an ostensibly effectual service to solve an existing problem. The traditional and historically most common example of such a racket is the "protection racket", in which racketeers offer to protect a business from robbery or vandalism; however, the racketeers will themselves coerce or threaten the business into accepting this service, often with the threat (implicit or otherwise) that failure to acquire the offered services will lead t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Disestablished In 2003
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance Fraud
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability assessmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of The Dominican Republic
This is a list of banks in Dominican Republic as of November 2010, published by thBank Superintendency including credit unions and other financial services companies that offer banking services and may be popularly referred to as "banks". Central bank *Central Bank of the Dominican Republic Local banks *The main local banks: Central Bank of the Dominican Republic, Banco Popular Dominicano, Banreservas and Banco BHD Leon contribute more than 60% market share. Government-owned banks * BanReservas Commercial banks *Banco Popular Dominicano * Banco BHD (Merged from Banco BHD and Banco Leon) * Banco Santa Cruz * Banco Caribe * Banco BDI * Banco Vimenca * Banco Lopez de Haro * Bancamérica Foreign banks *Banesco *Scotiabank * Banco Promerica Savings and credit banks *Banco Atlántico * Banco Bancotuí *Banco BDA * Banco Adopem * Banco Agrícola De La Republica Dominicana * Banco Pyme Bhd *Banco Ademi *Banco Capital *Banco Confisa *Banco De Desarrollo Idecosa *Banco Empire *Banco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Powers That Be (phrase)
In idiomatic English, "the powers that be" (sometimes initialized as TPTB) is a phrase used to refer to those individuals or groups who collectively hold authority over a particular domain. Within this phrase, the word ''be'' is an archaic variant of ''are'' rather than a subjunctive ''be''. The use of ''are'' in this phrase ("the powers that are") is less common. "The powers that were" (TPTW) can also be found. Origin The phrase first appeared in the Tyndale Bible, William Tyndale's 1526 translation of the New Testament, as: "Let every soul submit himself unto the authority of the higher powers. There is no power but of God. The powers that be, are ordained of God". In the 1611 King James Version it became, "Let every soul be subject unto the higher powers. For there is no power but of God: The powers that be are ordained of God." (), whence it eventually passed into popular language. The phrase comes from a translation of the el, αἱ ... οὖσαι ξουσίαιhai .. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
