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Ramon Baez Figueroa, Pedro Castillo. File photo.
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Santo Domingo.-. The National District 3rd Court Collegiate sentenced the ex Progreso bank president Pedro Castillo to 10 years in prison and to pay $12 billion in damages, for having diverted RD$14 billion from that financial entity.

The Court bailiff began reading the verdict at 10:30 p.m., after several recesses that lasted 13 hours.

Castillo, during his tenure as the Progreso bank’s president, also faces a possible 20 years in prison, at the request of the Justice Ministry and the plaintiffs.

The prosecutors asked the Court’s judges Alina Mora de Marmol, Rafael Pacheco and Ramona de los Santos to sentence Castillo to pay a fine of RD$2.5 million, whereas the plaintiffs’ lawyers requested RD$12 billion in damages.

The prosecution filed the charges against Castillo on February, 2006, and the 7th Instruction Court heard the opening arguments last May, when it ruled to indict the former banker and start the hearings in last June.

The ex Progreso president becomes the third major banker to be sent to prison for 10 years, after the guilty verdicts against former Baninter president Ramon Baez Figueroa, and Bancredito executive Manuel Arturo Pellerano.

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COMMENTS
10 comment(s)
Written by: gouletcolonial2 This user is banned, 6 Mar 2009 8:01 AM
From: Canada, Toronto ,Cabbagetown,Parliament and Gerrard
throw away the key .....make him do Vivians 5 as well.....and what about the nearly extinct Hippo-mejiaus ladronasus and the secret 95 accounts.?
Written by: gouletcolonial2 This user is banned, 6 Mar 2009 8:46 AM
From: Canada, Toronto ,Cabbagetown,Parliament and Gerrard
this is not the sympathy season for bankers.....they are preparing the hottest rooms in hell for these fat cats as we speak
Written by: NYCDR, 6 Mar 2009 9:02 AM
From: United States
okay, did i read this right? he stole 14billion but he needs to return 12?
my math is not working for me...if this is so then no wonder...he keeps 2 billion for himself? how is this punishment? by going to jail?
Written by: brootto, 6 Mar 2009 10:15 AM
From: United States, South West Florida
I guarantee, he will get sick and receive a pardon.
Written by: vacanos, 6 Mar 2009 10:16 AM
From: United States
lets hope this rata este pelao and doesnt have any money left to pay our corrupt politician.
Written by: gmiller261, 6 Mar 2009 11:59 AM
From: United States

No pardon LF.
Written by: MannyTav, 6 Mar 2009 12:20 PM
From: United States
The pardons will come as sure the sun comes out in DR. There's no way those cats are doing anything close to ten years. Just a question, but how many Dominicans do you think would voluntarily go to jail for ten years, wink wink, in exchange for $2 billion????
Written by: jonjrs, 6 Mar 2009 12:33 PM
From: United States, Miami, FL
Not this time.....no pardon for Perucho, he stole from another bunch of folks that are way richer than him and they were the first ones to pursue legal action, not the Government. Here in Miami, the 11th Circuit Court handed down a verdict and he has to pay up 79.6 million dollars, so he's not looking too good. They're all dirty but at least these guys didn't let their bank go down the drain with the rest of them....
Written by: gouletcolonial This user is banned, 6 Mar 2009 9:15 PM
From: Cuba, it is a secret the censors are looking for me
and what about the nearly extinct Hippo-mejiaus ladronasus and the secret 95 accounts.?
Written by: chillaxin201 This user is banned, 7 Mar 2009 12:50 AM
From: Dominican Republic, Boycott Dominican Tourism
Written by: gouletcolonial, 6 Mar 2009 9:15 PM
From: Dominican Republic, santo domingo,calle comercio zona colonial
and what about the nearly extinct Hippo-mejiaus ladronasus and the secret 95 accounts.?

hippo he's old news, the new theres a new thief in town. Or in the palacio
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