Judge nixes more time for bank probe prosecutor as suspects flee

WITH FOUR people in preventive detention and three on the run  The 13th Criminal Court has ordered First Anti-Corruption Prosecutor Tania Sterling to present  a summary of the findings in the case involving a  $9 million loan made by Caja de Ahorros (CA) to the contractor in charge of the Amador Convention Center project.

The order was reported in a judicial newsletter on Friday November 18

According to the ruling of Judge Alina Hubiedo, the four-month extension granted to Sterling to investigate the case will not be extended any further.

Behind bars are, former CA Chairman Riccardo Francolini and former bank Manager Jayson Pastor.

Two executives of the consortium that received the loan are also in custody.

Sterling said a number of people have refused to appear for questioning, including Ricardo Calvo and former Financial Pacific Executives Ivan Clare and West Valdés.

Prosecutors say that the funds from the loan were used to cover up an embezzlement of funds from Financial Pacific. A red alert has been issued by Interpol for their capture.