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La Nacion: 5Dimes Manager In Charge of Hundreds of Millions? (English)

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Guest
Published on:
Mar/01/2016
La Nacion: 5Dimes Manager In Charge of Hundreds of Millions? (English)

Her profile does not match! According to the Bank, the socioeconomic profile of the type of manager does not fit with that of a person who, abroad, handles hundreds of millions of dollars and, on the other hand, fits with a person in a managerial position (regular employer).

Carvajal, as corroborated by the newspaper La Nacion, now is the manager of sportsbook 5Dimes.

5Dimes business name is Red Planet S. A., another company headed by Carvajal, this business also received money from Malta and Panama through bank transfers from Woodtree Equipment Limited, according to research by Banco De Costa Rica Security Department.

As for companies domiciled in Malta and Dubai (United Arab Emirates), there are no audited financial statements of 2014 -a which accessed the bench, where revenues of more than $ 1,500 million were reported.

The more records is Woodtree Equipment Limited, with revenues of $ 1,444 million and $ 1,282 million expense. And Latitude Global FZE reported $ 84 million entries and expenses by $ 72 million, the statement said

Marisol Carvajal, meanwhile, borrowed, on national soil, with two mortgages totaling $ 241,000 (¢ 130 million) to build a house in San Rafael de Escazu, from a private bank. In the writings of the loans, she was identified as "administrator" in 2006 and 2014.

Besides this, the company Red Planet S. A. -under which operates the sportsbook - owes little more than $ 1 million to the Costa Rican Social Security Fund (CCSS) per worker-employer contributions.

According to a report by the Ministry of Public Education (MEP), she obtained the baccalaureate high school in 1997, under the distance mode.

Latco accounts, which received $ 67 million over three years Carvajal firms are being investigated by the Public Prosecutor for the alleged crime of money laundering.

Since September 2013, this is the only income recorded in the accounts in the BCR Latco.

87% of the shares are Latco lawyer Manfred Pino and the rest of his wife, while the generalissimo is empowered Jennifer Morsink, member of the Board of the National Bank since 2012.

Money transfers. The $ 67 million was deposited by 25 transfers from Malta and Arab Emirates, through banks in Germany, Spain, Britain and the United States.

With these resources, two escrows, which are administered by Latco with the intention to develop real estate projects, were formed. The executor of these works is Pino, owner of the trust company.

This follows the report of the Administrative Office of Compliance from Banco de Costa Rica (BCR), which was sent to the prosecutor, the November 19, 2015 .

In that document, the bank sets out the reasons why he closed the four Latco accounts and is the basis of the preliminary investigation by the Assistant Prosecutor for Money Laundering.

Suspicions. The Bank's attention to this case occurred after Latco provided partial information on the origin of the resources Woodtree Latitude Global FZE and Equipment Limited.

Even Morsink, says BCR report, in the first instance, refused to receive a notice in which she was requested additional information on the work or nature of these two companies. She alleged that many of these documents had already been handed over to the state bank.

However, the BCR team was not satisfied. For example, Woodtree Equipment Limited, Latco only provided some financial statements audited by a certified public accountant (CPA) Costa Rican, although the company is registered in Malta.

The CPA said that the document lacks implementation of international financial reporting standards. Of the 2,000 shares of Woodtree, 1,999 belong to Carvajal and the firm Reliance Management Ltd.

According to those same financial statements, Woodtree is dedicated to software development and high-tech business, and has clients such as Allianz, Air France-KLM Group and L'Oreal.

"No specific references obtained about the business of companies senders funds (...). There is information company registration, but this is not satisfactory to make a relationship that satisfies the natural questions that the bank has had to consider "the report said.

Concentration. Another observation that reveals the study of BCR team is a "major mismatch" between the origin and destination of resources entering Latco bank accounts.

After entering Costa Rica, 30% of the money left the country to accounts in Panama, United States and Peru. Another 67% was sent to accounts at other banks Latco on national soil as BCT, Scotiabank and BAC San José, while the remaining 3% are cashier checks.

Of the $ 67 million to Carvajal he wrote a check for $ 75,000 (¢ 40 million) here and Pino was deposited transactions $ 702,000 (¢ 380 million) in his accounts in the United States.

"The transfer of funds by such high amounts, from untraditional countries, Arab and Malta Emirates for constituted by a Costa Rican businesses and to others with no clear organizational and operational qualities, suggest at least an unusual situation," the report GG-11-459-2015.

on Newspaper tried to locate Marisol Carvajal at her home, mobile, office, email and social networks. However, at the closing of this edition was impossible, because she left the country since February 15, confirmed the press office of the Directorate of Immigration.

Manfred Pino, owner of Latco, agreed to an interview, but until later Tuesday.

Pesquisas. The Public Ministry initiated the investigation following the report which referred the BCR, last November, for the alleged crime of money laundering. So far, no persons charged because the case is in the preparatory stage.

Leovigildo Rodriguez of the Legal Division of BCR, declined to comment on the allegations. He argued that "evil would," because the case is already pending in the prosecutor's office.

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