Rumours of Possible Intervention
of BAC San José
Banking authorities are asking
for calm following rumours that
the Bac San José (formerly Banco
San José) may be intervened by
the General de Entidades
Financieras (SUGEF).
Gerardo Corrales, general manager of Bac San José, who contacted the
SUGEF following the rumours, affirmed that there is no reason for
the bank being intervened.
Luis Diego Vargas, president of the Consejo de Supervisión del
Sistema Financiero (Conassif), said there exists no motive why the
SUGEF would intervene. Vargas added that, "the financial positions
of this bank is very stable and has shown no signals of any
problems."
Notwithstanding, yesterday customers lined at the various branches
of the bank with the intention to withdraw their money. Lines were
reported to be more than a block long, causing traffic problems at
some locations.
According to the Corrales, the bank is informing all it's customers
that the bank is solid and is calling on depositors not to be
nervous nor to act without first obtaining real information.
Corrales said that the rumour was spread to damage the reputation of
the bank and quickly spread.
Reports indicate that by 5pm yesterday, depositors had withdrawn up
to $2 million dollars, leaving the bank a cash reserve of $1 million
dollars for withdrawls.
Bank officials are not clear where the rumour started, however, are
sure of it's intention.
One possible reason for the rumour was the possible notification the
offshore BCA Florida bank received last March by U.S. banking
regulators, the Federal Deposit Insurance Corp.
The notice to the BAC Florida was a request by the Treasury
Department to register all cash transaction of $10.000 or more. The
reason for the request is to monitor possible terrorist activity.
Bac San José is part of the BAC International Bank with nine banks
located in: Guatemala, El Salvador, Honduras, Nicaragua, Panama,
Grand Cayman, Bahamas, Miami and Costa Rica.
Bac San José took over Banco San José last December. Credomatic in
Costa Rica, which was part of Banco San José, which is dedicated to
credit card processing services, is not part of Grupo Financiero BAC
San José.
Costa
Rica Sentences U.S. Man in Child Sex Crimes
A Costa Rican court sent a U.S. man to jail for 45 years on Tuesday,
after finding him guilty of having sex with minors, trafficking in
child pornography and supplying drugs to children.
The court sentenced, Thomas Scott Cochran, 38, also found guilty of
paying for sex with minors and producing child pornography, to a
total of 154 years in prison, but Costa Rican law limits total jail
terms to 45 years.
Also convicted with Cochran, was Manuel Pérez Chaves, who was
sentenced to 25 years in prison, which was then reduced to 18.
Charges were originally brought on behalf of more than 25 Costa
Rican and Nicaraguan minors, but most of the children failed to
appear at the trial, court sources said.
Cochran first visited Costa Rica in 1991. The police investigation
revealed that Cochran began his delinquent activities in Costa Rica
in 1999 and was arrested in 2003 following a 10 month investigation
that followed the man as he moved residency from Barrio Dent to
Pavas.
The man was arrested in his home when at the time was found to
be in the company of a 14 year old girl, whom he picked up near the
Sabana park.
Investigators said the man picked up street kids between the ages of
10 ad 15, offering them food, clothing and money in exchange for
sexual favours. In some cases, he drugged them and filmed their
sexual acts which he would then send to his friend in California.
In addition to the sentence, the judges, Luis Fernando Bolaños, Omar
White and Alcides Mora, took into account the civil complaints made
by the Oficina de Defensa Civil de la Víctima, del Ministerio
Público.
Cochran is required to pay each of the 11 victims ¢5 million colones
in damages. In three of the cases, the payment will be shared
equally with Manuel Pérez.
Prosecutor Karen Valverded and Mauricio Boraschi, legal
representative for the victims, said just had been done, even though
the damage caused to the children are enormous and irreparable.
More>> US Citizen
Condemned to 154 Years in Costa Rica for Sexually Abusing Children
Proposed Immigration Law Causes
Stir in Nicaragua
A
motion approved last Friday by
the Legislative Assembly that
will form part of the new 'Ley
de Migración y Extranjería',
pretends to fine up to five
times the minimum salary to
those who give shelter to
illegal aliens for more than 48
hours.
The information was released to
the press by the deputy Edwin
Patterson of the Partido Acción
Ciudadana, who considers the
measure to promote migratory
order.
Patterson added that the measure
is not be construed as
xenophobia - a person unduly
fearful or contemptuous of that
which is foreign, especially of
strangers or foreign peoples -
but, rather, an intent by Costa
Rica to control and order
migration coming from other
countries.
The deputy also said that there
is the possibility contemplated
of setting out a jail sentence
is cases of repeated offences.
The new immigration rules are
still being studied and
discussed by a commission. An
agreement by the different
parties may see the law approved
this year.
In Nicaragua, rumours circulated
that the proposal had been
adopted, which caused many to be
upset as news reports indicated,
accusing Costa Rican legislators
of promoting racism.
Police Chiefs from Central
America and the Caribbean Meet
in San José
The
chiefs of police of Central
America and the Caribbean began
a meeting yesterday in downtown
San José to discuss and
co-ordinate a series of actions
against organized crime in the
trafficking of drugs,
automobiles, false documents,
merchandise without the payment
of duty and the sexual
exploitation of minors.
Randall Quirós, Vice Minister of
the Presidency, welcomed the
chiefs to the Gran Hotel Costa
Rica and explained that their
aim is to strengthen the
channels of communication and
sharing of information between
the different jurisdictions.
Quirós added that they will also
attempt to find solutions to the
increasing family violence and
to analyze proposals that police
arrive on the scene immediately
to reduce the number of deaths
caused by inter-family disputes.
Some of the chiefs attending the
meeting are Luis Benítez,
Secretary of the Panamanian
National Police, who counts on
the good relationship he has
with Costa Rican police
officials and Javier Dávila
Rueda, Secretary of the
Nicaraguan National Police whose
main interest is to ensure
border security between the two
countries.
The meeting will continue today
and tomorrow and will end on
Friday with the signing of an
accord between the chiefs of
police.
Largest Confiscation in Costa
Rican History
The drug enforcement
police - Policía de Control de
Drogas - say they have
confiscated the largest amount
of money in Costa Rica history
in their fight against the drug
trade.
A raid was made on seven houses
in Barrio Fray Casiano, in
Puntarenas, were ¢110 million
colones was confiscated, the
largest ever. The raid also
netted police two people who
will be tried in the judicial
courts in Puntarenas.
Once the men are tried and
convicted, the confiscated money
will be transferred to the
Instituto Costarricense Sobre
Drogas, which will invest in
drug prevention programs.
300.000
High School Students Off School
for 3 Days
Some 300.000 high
school students will be off
school for the next three days
as teachers take part in the
49th Congreso Nacional de la
Asociación de Profesores de
Segunda Enseñanza.
According to Danilo Rojas,
president of the teachers union
APSE, the event begins today and
end on Friday, which is part of
the 205 day school calendar.
Members of the APSE have 15 days
authorized by the Ministry of
Education to attend various
educational seminars and
activities.
APSE expects some 5.000 teachers
each day to attend the event.
 News
Briefs
-
Tourists have been complaining vociferously of late over the under-staffed
and glacial process of clearing immigration and customs upon arriving in
Costa Rica. The situation is particularly bad most evenings between 8pm and
10pm, when some six different international commercial flights arrive.
Passengers on all but the first flight or two often face waits of up to two
hours to complete the process
-
Downtown San José has taken its very first baby steps towards urban renewal.
The current administration has made significant strides in clearing downtown
clutter, by aggressively removing unauthorized signs and billboards,
relocating phone and electricity cables underground and evicting unlicensed
street vendors.
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