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Maurice Spagnoletti was hired to clean up Doral Bank. Did he uncover something that got him killed?
By Zeke Faux | July 6, 2016 Illustrations by Daniel Zender From Bloomberg Businessweek
On the day Maurice Spagnoletti was murdered, his black Lexus sedan was full of balloons. It was June 15, 2011, the day before his wife’s birthday, and he was planning a celebration. Spagnoletti, 57, was the No. 2 executive at Doral Bank in San Juan, Puerto Rico. Once flush, the bank had been almost ruined by a fraud scandal, and in 2007 it was rescued by Bear Stearns, Goldman Sachs, and a group of hedge funds. The Wall Street investors had put up $610 million, but Doral continued to lose money, and they were losing patience. In late 2010, Doral hired Spagnoletti, a New Jerseyan experienced in managing large banks, with orders to reduce costs and get Puerto Rican operations under control.
originally posted by: tinner07
drug cartel. money laundering for sure.
My dad works for FEMA, he went to Puerto Rico a few years ago on official business. He told me the local drug lord told people not to F with them that they were there to help and nobody did.