Published On: Tue, Jul 7th, 2015

No decision yet on criminal prosecution former Directors Girobank

Giro BankWILLEMSTAD – The Public Prosecution (OM) did not make a decision yet on the criminal prosecution of the former Director of the local bank Girobank.

The Attorney General received various documents to substantiate the complaint filed by the current management of the bank. These documents need to be studied before the OM can make a decision.

According to Girobank, its former directors, Eric Garcia and Stephen Capella did not act in accordance with the guidelines of the bank. This is the reason why the bank has filed a complaint against both directors last month. Both Garcia and Capella are accused of fraud and embezzlement.

The two former directors invented a loan and used a false bank guarantee and other documents. The loan of nearly 7.3 million dollars went to companies owned by the former directors. There was an improper transaction of 3 million dollars. In total, an amount of more than 10 million dollars was ‘stolen’ by the two gentlemen.

Besides the criminal investigation, the Giro Bank will also launch a civil case, says lawyer Arnold Huizing. “The Giro Bank will take steps to get back its money. The new management of the bank discovered this criminal act after the investigation of the Forensic Services Caribbean and Aligned Management. The two investigations have recently been completed.”

The Court of First Instance of the island imposed, in December 2013, an emergency regulation on the bank because of developments that have led the solvency of Giro Bank to come under great pressure. Garcia and Capella were fired and the Central Bank of Curaçao and Sint Maarten (CBCS) took over all the powers of the directors and the members of the supervisory board of the bank.

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