Sunday 13 June 2021

Former Bancredito General Manager and Board Of Directors Charged With Corruption

Guillermo Quesada was the state bank’s general manager when he authorized a US$800,000 bank guarantee to a company tied to the President of Bancredito board of directors. (La Nación)

The Ministerio Público (Prosecutor’s Office), in what appears on the government’s part looking for a scapegoat, has accused the former general manager of the Banco Crédito Agrícola de Cartago (Bancrédito), Guillermo Quesada Oviedo, of allegedly using his influence when at the helm of the the State to grant a bank guarantee for more than US$800,000.

Attorney General Jorge Chavarría confirmed that Quesada Oviedo would have interceded in 2010 to grant the financial benefit to a company linked to the brothers of Thelvin Cabezas Garita, who at that time was the President of the Board of Directors of Bancrédito.

- Advertisement -

“There was a default in the payment and the Bank had to make good on the (of US$800,000) debt,” said Chavarría, noting that Cabezas Garita is also as charged in the case, as the rest of the members Of the Board during that period.

The other directors at the time were (identified by their last names only): Sánchez Madriz, Solano Brenes, Garita Sánchez, Rivera Bianchini, Castro Castro and Dengo Solera.

The Prosecution contends that the group broke the Law against Corruption and Illicit Enrichment in Public Service (Corrupción y el Enriquecimiento Ilícito en la Función Pública).

Last week, the government of Luis Guillermo Solis decided to shut down the ‘commercial’ operations of the Bancredito, and despite the bank’s financial bungling, it will be maintained as a corporate bank to administer trusts, collect the airport/exit tax, continue to operate the duty-free shops at the country’s airports and provide assistance to other government institutions.

- Advertisement -

By Monday, May 29, 2017, Bancredito customers withdrew their deposits. Over the weekend, almost 5% of the bank’s deposits was withdrawn as customers looked to place their money in other financial institutions.

- Advertisement -

We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Kamala Harris begins tour in Guatemala

Q24N - Arriving in the Guatemalan capital about two hours late,...

Incredible: Venezuela returns to wood stoves due to lack of gas

TODAY VENEZUELA – The wood stove that Jesús Cova and his...


Which countries could follow El Salvador by making it legal tender?

Q24N - El Salvador may be the first country to adopt bitcoin as legal tender, but recent developments suggest that it might not be...

On Monday the vehicle restriction will change, again

QCOSTARICA - In times of pandemic, things change constantly, especially when it is necessary to tighten the belt to reduce the contagion of covid-19. The...

Nicaragua’s Foreign Minister absent from the summit of Central American presidents

QCOSTARICA - The Daniel Ortega government sent its ambassador to Costa Rica, Duilio Hernández, as its representative to the summit of Central American presidents...

Will President Alvarado be vaccinated against Covid-19 soon?

QCOSTARICA - Costa Rican President Carlos Alvarado is just another citizen when it comes to covid-19 vaccination, given his young age and good health,...

Today’s Vehicle Restriction: June 8, “ODDS”

Today, Tuesday, June 8, only ODDS can circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save for those under the...

Tourism sector feels in crisis despite increase in international arrivals

QCOSTARICA - Despite the improvement in tourist arrivals reported in May, with more than 72,000 visitors, both the Cámara Nacional de Turismo (Canatur) and...

Carlos Alvarado describes calls reprehensible the persecution of Ortega against opponents in Nicaragua

QCOSTARICA - The President of Costa Rica, Carlos Alvarado, described the persecution of Nicaragua President Daniel Ortega against opponents as reprehensible after the government...

El Salvador Makes Bitcoin Legal Tender, A World First

Q24N (Reuters) El Salvador has become the first country in the world to adopt bitcoin as legal tender after Congress approved President Nayib Bukele's...

Today’s Vehicle Restriction: June 10, “ODDS”

Today, Thursday, June 10, only ODDS can circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save for those under the...


Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.