Prosecutor completes inquiry into Nicaraguan mega-scam
Armando Juárez, the prosecutor in Nicaragua's biggest-ever financial scandal, the Cenis affair, said he has completed his inquiries and will present his case next month.
Wednesday, June 4, 2008
In the Cenis affair, millions of dollars of private debt were converted into public debt, and several politicians are said to have made overnight fortunes.
Armando Juárez, who heads the criminal inquiry into a Nicaraguan banking fraud, said he will continue with the investigation despite claims by Central Bank governor Antenor Rosales that the matter has been resolved.
The directors of the Banco de la Producción (Banpro) delivered to Judge Julio César Arias yesterday and to Special Prosecutor Armando Juárez two Negotiable Investment Certificates (Cenis) worth 16 million dollars, and a zero-coupon bond worth more than seven million dollars. They were to receive these securities between April and October of this year.
Judge Julio César Arias has decided to lift the impoundment of the Cenis securities.
Nicaragua's central bank is going to pay Banco de la Producción the US$157 million it owes over the Cenis scandal, in which millions of dollars of private debt were turned into government obligations.
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