No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeCosta RicaFinancial Wrongdoings: Former Costa Rican President Faces Prosecution

Financial Wrongdoings: Former Costa Rican President Faces Prosecution

The former president of Costa Rica Guillermo Solís was accused of having harmed the public treasury during his administration (2014-2018), the Attorney General’s Office informed on Thursday.

The former president (2014-2018) was charged with “influence against the Public Treasury”.

The charges are based on the influence allegedly exercised by Solis to “transfer money from the National Treasury to Bancrédito (Banco Crédito Agrícola de Cartago), without technical support and with an extremely low possibility of return, with the intention that the bank would appear to have a sufficient liquidity index”, as indicated by the Deputy Prosecutor for Probity, Transparency and Anticorruption (Fapta).

According to the Public Prosecutor’s Office, this “maneuver” would avoid the intervention of the bank “due to the serious liquidity problems it was facing” and that the image of the Solís government would be damaged.

“I categorically reject the charges against me. From the government of the republic, we always acted in accordance with the law, seeking the benefit of the country, as well as the protection of Bancrédito’s creditors and the rights of its workers”, said the former president through a video posted on his Twitter account.

Bancrédito was a State entity for commercial purposes that ended up going bankrupt in July 2017, under the Solís administration, after years of losses and poor results.

The Public Prosecutor’s Office also accused former Vice President and former Minister of Finance Helio Fallas, former Minister of the Presidency Sergio Alfaro, former National Treasurer Martha Cubillo and former National Deputy Treasurer Mauricio Arroyo of the same crime.

“The actions of the accused persons resulted in an affectation to the Public Treasury and the public interest,” said the Prosecutor’s Office.

The five accused could be sentenced to between two and eight years in prison, according to the Penal Code.

Trending Now

Costa Rica Braces for Third Cold Front with Rain and Winds Expected

Everyone needs ready themselves for rough weather as the third cold front of the season moves in. The National Meteorological Institute (IMN) states that...

Costa Rica’s Route 32 Shutdown Drags On Amid Weather Delays

Drivers on Route 32 face more uncertainty today as the Ministry of Public Works and Transportation (MOPT) holds off on announcing when the key...

How Organized Crime Surged in Costa Rica

A new report paints a stark picture of organized crime tightening its hold on Costa Rica. The 2025 Global Organized Crime Index shows our...

Earthquake Rattles El Salvador With No Damage Reported

A moderate earthquake struck off the coast of El Salvador on Saturday evening, sending tremors through several areas but leaving no immediate reports of...

Rodrigo Paz Takes Office in Bolivia, Restores U.S. Ties

The center-right Rodrigo Paz was sworn in Saturday as president of Bolivia with a promise that the country would “never again” be “isolated” from...

Panama announces capture in Venezuela of suspect linked to 1994 bombing

Panamanian authorities reported the arrest in Venezuela of the alleged perpetrator of a 1994 attack that brought down a plane in Panama with about...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica