Three Central Bank employees arrested on charges of embezzlement

November 4^th, 2014 (InsideCostaRica.com) Prosecutors announced yesterday the arrest of three employees of the Central Bank’s Treasury Department on charges of embezzlement.

Prosecutors allege that the suspects, identified by the last names Lobo, Esquivel and Fernandez, embezzled millions of colones between 2010 and 2013 by stealing banknotes arriving at the Central Bank that were to be taken out of circulation and replaced, either because they were damaged, or were to be replaced with newer-style banknotes that were issued in 2013.

An investigation allegedly revealed video evidence of the suspects stealing from banknote-filled bags that were intended for destruction.

Prosecutors claim that the extent of the theft was such that the suspects were able to purchase at least five new-model-year vehicles and two valuables properties in San Carlos, Alajuela.