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Santo Domingo. - National District prosecutor Alejandro Moscoso today signed over the control and administration of the luxury building Torre Atiemar to the State-owned Reservas Bank, after it was seized from the Spaniard Arturo del Tiempo, being held in his country on charges of drug trafficking.

Moscoso said the Reservas was designated the trustee to prevent the depreciation of building, which was built partially with a loan from that bank.

He said the confiscation of the Torre Atiemar, located in the upscale sector La Esperilla, was authorized until a ruling is handed down in the case.

In addition to del Tiempo and his son Arturo, both being held in Barcelona, the Colombian German Eduardo Duque is also being held in the case, at Najayo Prison.

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COMMENTS
11 comment(s)
Written by: Blutarsky This user is banned, 18 Mar 2010 1:00 PM
From: Dominican Republic, No Spin Zone
dont they have to convict them first before they start taking there toys ?
Written by: fedadiaz This user is banned, 18 Mar 2010 1:35 PM
From: Dominican Republic
Arturo del Tiempo is one of investors that Leonel Fernandez is getting to put money in DR economy and industry.

He has pictures in the Palacio Nacional with this individual .

Leonel dio el primer picaso para la construccion de la torre.

That is why he never talks about drugs business in RD , too many of these guys involve in the drugs dealing have paid for the political campain of the PLD.

ESTAS COMPROMETIDO LEONEL.
Written by: UnderCover, 18 Mar 2010 2:00 PM
From: United States, FEEL THE RUSH...RIDE YOUR MTB!
It's a lot easier just to demo (nice idea) the building than to see all these corruptos making money on the property from dirty money.
Written by: josean, 18 Mar 2010 2:09 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
"dont they have to convict them first before they start taking there toys ?"

That's why your boy LIE-onel Fernandez is called a DICTATOR!

He also seized $130,000,000 million DOLLARS from the Sunland loan and $750,000,000 DOLLARS from the future of the Dominican children and their constitutional right to an education!
Written by: josean, 18 Mar 2010 2:10 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
fedadiaz,

IOOO% in agreement with your statement!
Written by: xwill7, 18 Mar 2010 3:35 PM
From: United States, El cuarto bate
josean,
you can have a nice view and sip on some mamajuana on the top floor...
Written by: VeronicaDR, 18 Mar 2010 4:05 PM
From: United States
Another good reason not to buy real estate in the DR. Of course most of the people who owns condos in this building are scum but there might actually be one or two honest people who now lost their condo due to finding a good deal.

This should send out a clear message to non Dominican investors not to buy any real estate in the DR or you risk losing your investment. Plenty of better safer places to put it.
Written by: josean, 18 Mar 2010 4:40 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia

X,

I would not live in Santo Calcutta if they paid me!

You soy del campo y orgulloso!
Written by: glomarexplorer, 18 Mar 2010 10:28 PM
From: United States, Fresh Water Paradise-NY Finger Lakes

The politicos and bank proceeded with utmost haste to appropriate asset in question.

This should be beginning of some very interesting developments, at least they should be in any other country where rule of law prevails. Some firings and prosecution should be in order.

It would be most interesting to find out what sort of background checks of Mr. Del Tiempo were effected before a massive infusion of Dominican funds-much of which were likely borrowed!

I suspect this hasty move is likely intended to cover up some of the tracks, put up good front and expand future nefarious business. Maybe it's just me and my jaundiced eye views-nah, they are just crooks.

MJEV.
Written by: xwill7, 18 Mar 2010 11:20 PM
From: United States, El cuarto bate
josean,
I hear you.. I love el campo but I also love Santiago...hay mucha mujere en Santiago
Written by: WalterPolo, 19 Mar 2010 10:59 AM
From: Dominican Republic, Puerto Plata
If I remember correctly, the real guarantee held by Banreservas is not the building per se, but term deposits in a European bank assigned as collateral.

This highly irregular, and Banreservas´ mortgage is window dressing.

The officials involved should be arrested and jailed for money laundering.
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