No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeTopicsCrimeFormer Costa Rica President Faces Trial Over State Bank Scandal

Former Costa Rica President Faces Trial Over State Bank Scandal

Former Costa Rican President Guillermo Solís will face trial for allegedly making irregular treasury fund transfers to prevent the collapse of a state bank during his term (2014-2018), the Prosecutor’s Office announced Wednesday.

“The Anti-Corruption Prosecutor’s Office has secured a trial order against former President Solís Rivera and four members of his government for the alleged crime of influence against Public Finance, in the so-called Bancrédito case,” the Public Ministry stated on its X social media account.

According to prosecutors, the charges stem from Solís’s alleged influence, at age 66, 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, intending to make the bank appear to have a sufficient liquidity index.”

The Prosecutor’s Office claimed that Solís’s “maneuver” prevented the bank from being intervened “due to serious liquidity problems it faced” and protected the Solís administration’s image from damage, as stated when the investigation began in July 2023.

The Public Ministry indicated they are awaiting trial scheduling. Bancrédito, a state commercial bank, ultimately failed in July 2017 during Solís’s administration, following years of losses and poor performance.

Solís “categorically rejected” the accusation when the Prosecutor’s Office opened the investigation: “From the government of the republic, we always acted according to law, seeking the country’s benefit, as well as the protection of Bancrédito’s creditors and its workers’ rights,” he stated at the time.

Popular Articles

American Airlines Adds New Direct Flights to Costa Rica’s Liberia Airport

Guanacaste International Airport (also known as Liberia International Airport), a member of the VINCI Airports network, announced increased operations from Dallas-Fort Worth International Airport...

Costa Rica’s President Vetoes Law Promoting Low-Cost Regional Flights

In a bold move Tuesday morning, President Rodrigo Chaves vetoed the proposed law aimed at boosting low-cost flights between Costa Rica and its Central...

US Deports Hundreds of Asian Migrants to Panama Jungle Shelter

About a hundred migrants deported by the United States to Panama, mostly Asians, were placed this Wednesday in a shelter in the inhospitable Darién...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait

Latest Articles