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Failed
Banco Anglo Managers Sentenced
Two of the "sinvergüenzas"
(scoundrels) who looted the
failed Banco Anglo were each
sentenced to fifteen years
prison. The men were accused of
stealing ¢1.5 billion colones
(us$3 million dollars) from the
bank.
Some say that Luis Fernando
Chanto and Carlos Rodó, were the
scapegoats for the president of
the bank Carlos Hernán Robles
and a number of politicians
involved with the bank.
Robles fled Costa Rica before he
could be apprehended.
The Banco Anglo Costarricense
collapsed in 1994. At one time
the third largest and oldest
state commercial bank, was
closed by the Central Bank's
examiners office after incurring
US$200 million in losses due to
bad loans and dubious
investments in Venezuelan bonds
that subsequently disappeared.
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