Former president Manuel Pellerano and vice president Juan Mendoza of Banco Nacional de Cred sued by the nation's Central Bank

Former president Manuel Pellerano and vice president Juan Mendoza of Banco Nacional de Credito also were ordered to pay US$72,000 each. Both were sued by the nation's Central Bank for alleged participation in a US$600 million fraud. The men's attorneys said Friday they would appeal the decision.<br />The two bankers also are being sued by Bancredito clients. They appealed a three-year prison sentence in that case and are still awaiting a judge's decision.<br />Bancredito closed in 2003 after announcing it did not have enough liquidity. Banco Intercontinental and Banco Mercantil also collapsed, leading to the investigation of several fraud cases estimated at US$3 billion.The crisis led to high inflation and devaluation of the peso, and helped sweep President Leonel Fernandez into power in 2004 on promises of economic reform. The International Monetary Fund also intervened with US$695 million in loans, pulling out in August this year when Fernandez was elected to a third term.

Former president Manuel Pellerano and vice president Juan Mendoza of Banco Nacional de Cred sued by the nation's Central Bank

Former president Manuel Pellerano and vice president Juan Mendoza of Banco Nacional de Credito also were ordered to pay US$72,000 each. Both...

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