Banco Intercontinental v. Var


04/13/09 – 04/15/09


Banco Intercontinental (or BANINTER) was the second largest privately held commercial bank in the Dominican Republic, before collapsing in 2003 in a spectacular fraud tied to political corruption.

According to the plaintiff, $58M was diverted from the bank, and a federal judge trebled the damages in entering a judgment on racketeering charges, which entitled the plaintiff to collect $158M.

Var Holdings was an entity related to the perpetrator of the fraud, and allegedly received over $1M as a fraudulent transfer to purchase a condominium. The defendant claimed that the allegedly fraudulent transfer had a legitimate purpose, and that the plaintiffs should have pursued their claim earlier.

The jury found that the transfers were fraudulent.


The jury found the transfers were fraudulent



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