THE Attorney General’s Office is reviewing all documents to determine if there are sufficient evidence to file criminal charges against certain major shareholders and directors of Bank of Saipan.
“Nothing is determined at this point, but obviously when there are criminal information filed that would be a clear indication that we intend to prosecute—as of now, it is still undergoing review,” Attorney General Robert T. Torres said yesterday.
AGO is also reviewing the possible civil and administrative liabilities of the bank officials, he said.
“You can call it an ongoing investigation,” he added.
Acting Secretary of Commerce Fermin M. Atalig informed the bank’s board of directors on Tuesday that the government might recommend the filing of criminal charges against certain major shareholders and directors.
Atalig cited B.D. Montgomery’s $3.5 million purchase of stock from two of Bank of Saipan’s major shareholders—the Calvos and JLH Pacific Trust.
Montgomery was among four persons later indicted in federal court for conspiring to defraud the bank of $6.6 million.
Atalig said the shareholders involved could be charged for unlawful concealment of transactions.
