Plaintiff minority shareholders allege that the Defendants participated in a scheme to embezzle and defraud BFF out of its assets, including certain proprietary technology involving self-evolving database technology applicable to the Internet ("Technology").
and California common law prohibiting unfair competition, in a conspiracy to defraud BFF and embezzle BFF's rights to the Technology and its other assets.
Abadio Carrillo is accused of helping his father embezzle
Roman claims Morales and the three board members, Miqueas Santana, Carmen Montalvo and Sandra Roman, "conspired to embezzle
funds from Borinquen and cause the bank's collapse.
The lieutenant would embezzle
the money from the taxes he collected for the Customs Department at Bahrain International Airport," said the Public Prosecution in court files.
money from his employer to finance a lavish apartment for his mistress to whom he poses as a famous painter.
He said in a press statement that if a person misappropriates or embezzles
one million Rs today and after twenty years, this comes into the notice the culprits has to deposit the actual amount embezzled whereas the value should be calculated with the time value of the money.