Quintavalle Could Lose
His Freedom If He Doesn't Come With Bail
Money By Next Week
Matteo Quintavalle, remember him, the
Italian businessman got himself into a lot
of hot water for his relationship with his
investors and their investments? Well, he
has been a free man since a judge of the
Tribunal Penal del Tercer Circuito Judicial
in Pavas let him out on bail.
But, he could be behind bars anytime soon if
doesn't come up with ¢150 million colones
bail by February 26th.
Quintavalle is free while the Fiscalía
continue their investigation into
allegations of fraud filed by his foriegn
investors.
The Fiscales, Jessica Hernández and José
Pablo Martínez of the Fiscalía Adjunta de
Delitos Económicos, Corrupción y Tributarios
want to make sure that "their" man doesn't
skip on them, so are asking the courts to
ensure that Quintavalle puts up the bail
money or spend his time in the pokey.
Quintavalle has up to February 26 to come
with the cash or in lieu of, property or
other valuables. Failing that, Quintavalle
will be ack in San Sebastian.
The case agains the Italian began with his
arrest in July 2007 when a group of foreign
investors, mainly Americans, accused him of
offering them fraudulent certificates for
their investments.
The certificates were issued by Depository
Pacific Bank S.A. of which Quintavalle was
president. However, the company did not have
the authority by the Superintendencia
General de Entidades Financieras (Sugef) -
banking regulator - to issue such
certificates.
The investors allege in their filing that
Quintavalle led them to believe that
Depository Pacific Bank S.A. was affiliated
with the Banco de Costa Rica (BCR) - a real
bank owned by the state.
Quintavalle denied the accusations and is
now facing criminal charges for offering
fraudulent certificates and fraud among
others, all contrary to articles 216, 239
and 241 of the Código Penal (Penal Code).
The Italian businessman is also facing
charges of financial intermediation (acting
as a bank) and conspiracy based on the
statements by investors who testify that
they were told of his affiliation with the
BCR. |
|
|
 |
|
| |
|
|
|
|
|
