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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 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 The Society of Jesus (; abbreviation: S.J. or SJ), also known as the Jesuit Order or the Jesuits ( ; ), is a religious order (Catholic), religious order of clerics regular of pontifical right for men in the Catholic Church headquartered in Rom ... and historian A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ramón Báez Figueroa
Ramón Buenaventura Báez Figueroa (born 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 in a pompous, ostentatious wedding that cost more than US$ 2 million of the time (US$ million at prices) —in a country whose GDP per capita was around US$2,000— it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Bank
A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with wholesale banking to corporations or large or middle-sized businesses, to differentiate from retail banks and investment banks. Commercial banks include private sector banks and public sector banks. However, central banks function differently from commercial banks, despite a common misconception known as the "bank analogy". Unlike commercial banks, central banks are not primarily focused on generating profits and cannot become insolvent in the same way as commercial banks in a fiat currency system. 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Miami
Miami is a East Coast of the United States, coastal city in the U.S. state of Florida and the county seat of Miami-Dade County, Florida, Miami-Dade County in South Florida. It is the core of the Miami metropolitan area, which, with a population of 6.14 million, is the second-largest metropolitan area in the Southeastern United States, Southeast after Atlanta metropolitan area, Atlanta, and the Metropolitan statistical area#United States, ninth-largest in the United States. With a population of 442,241 as of the 2020 United States census, 2020 census, Miami is the List of municipalities in Florida, second-most populous city in Florida, after Jacksonville, Florida, Jacksonville. Miami has the List of tallest buildings in the United States#Cities with the most skyscrapers, third-largest skyline in the U.S. with over List of tallest buildings in Miami, 300 high-rises, 70 of which exceed . Miami is a major center and leader in finance, commerce, culture, arts, and internation ... [...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. As 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 ancien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance Fraud
Finance refers to monetary resources and to the study and discipline of money, currency, assets and liabilities. As a subject of study, is a field of Business Administration wich study the planning, organizing, leading, and controlling of an organization's resources to achieve its goals. Based on the scope of financial activities in financial systems, the discipline can be divided into personal, corporate, and public finance. In these financial systems, assets are bought, sold, or traded as financial instruments, such as Currency, currencies, loans, Bond (finance), bonds, Share (finance), shares, stocks, Option (finance), options, Futures contract, futures, etc. Assets can also be banked, Investment, invested, and Insurance, insured to maximize value and minimize loss. In practice, Financial risk, risks are always present in any financial action and entities. Due to its wide scope, a broad range of subfields exists within finance. Asset management, Asset-, Money management, ... [...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 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 * Banco LAFISE Savings and credit banks *Banco Atlántico * Banco Bancotuí * Banco BDA *Banco Adopem * Banco Agrícola De La Republica Dominicana *Banco Pyme Bhd * Banco Ademi * Banco Confisa * Banco De Desarrollo Idecosa * Banco Empire * Banco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks
{{Disambiguation ...
Defunct 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 process of becoming antiquated, out of date, old-fashioned, no longer in general use, or no longer useful, or the condition of being in such a state. When used in a biological sense, it means imperfect or rudimentary when comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Powers That Be (phrase)
In idiomatic English, "the powers that be" 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''. Origin The phrase first appeared in the Tyndale Bible, William Tyndale's 1526 translation of Romans Chapter 13 verse 1 in 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 ; is also translated as "authorities" in some other translations.Biblos.com. Chain Link BibleRomans 13:1 Examples "The powers that be" can refer to a variety of entities that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PricewaterhouseCoopers
PricewaterhouseCoopers, also known as PwC, is a multinational professional services network based in London, United Kingdom. It is the second-largest professional services network in the world and is one of the Big Four accounting firms, along with Deloitte, EY, and KPMG. The PwC network is overseen by PricewaterhouseCoopers International Limited, an English private company limited by guarantee. PwC firms are in 140 countries, with 370,000 people. 26% of the workforce was based in the Americas, 26% in Asia, 32% in Western Europe, and 5% in Middle East and Africa. The company's global revenues were US$50.3 billion in FY 2022, of which $18.0 billion was generated by its Assurance practice, $11.6 billion by its Tax and Legal practice and $20.7 billion by its Advisory practice. The firm in its recent actual form was created in 1998 by a merger between two accounting firms: Coopers & Lybrand, and Price Waterhouse. Both firms had histories dating back to the 19th century. The ... [...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 Christian Palestinian immigrants from Bethlehem and Nazareth, 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Racketeering
Racketeering is a type of organized crime in which the perpetrators set up a coercion, coercive, fraud, fraudulent, extortionary, or otherwise illegal coordinated scheme or operation (a "racket") to repeatedly or consistently collect a profit. The term "racketeering" was coined by the Employers' Association of Greater Chicago, Employers' Association of Chicago in June 1927 in a statement about the influence of organized crime in the International Brotherhood of Teamsters, Teamsters Union.David Witwer, "'The Most Racketeer-Ridden Union in America': The Problem of Corruption in the Teamsters Union During the 1930s", in ''Corrupt Histories'', Emmanuel Kreike and William Chester Jordan, eds., University of Rochester Press, 2004. Specifically, a racket was defined by this coinage as being a service that calls forth its own demand, and would not have been needed otherwise. Narrowly, it means coercion, coercive or fraud, fraudulent business practices; broadly, it can mean any criminal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
