Barranco Kircher & Vogelsang Announces Luis Alvarez Renta Will Appeal Jury Verdict; Distinguished Financier Declares Innocence, Key Witnesses and Evidence Excluded.
Mr. Renta, an American citizen, was sued in the United States by a foreign government and was not permitted the right to have Dominican Republic government officials brought to the trial to be cross-examined by his attorneys in the presence of the jury, said his attorney. The truth and real facts of the case were never brought out and if they had been, Mr. Renta would have been exonerated, his attorney said.
"This case is the poster-child for cases that should have never been tried here," Mr. Barranco said. "All the key documents were in Spanish, and the key witnesses spoke no English; all the relevant events occurred in the Dominican Republic - and no damages were suffered by anyone here in the U.S. Nonetheless, a corrupt foreign bank was permitted to abuse the time and resources of the American judicial system in a case that should have been transferred back to the Dominican Republic. Because the jury was not permitted to consider key evidence and testimony from the Dominican Republic, we believe the appeal has significant merit."
Mr. Barranco also stated, "The trial was grossly unfair to Mr. Renta because the jury received a very biased picture of the true facts. He was sued here because he is an American citizen. Though an American citizen, he was deprived of his right to a fair trial."
Mr. Renta was accused by a foreign government in a United States Court and yet the foreign officials leading the charge were never required to come to the U.S. to testify, his attorney said.
"Several significant witnesses such as the president of Baninter could not be compelled by the U.S. federal court to testify," Mr. Barranco, said. "This testimony would have exonerated Mr. Renta. In addition, the government of the Dominican Republic was awarded money they never sued for, at least $25 million, which was nearly 50% of the jury award."
Mr. Barranco, added, "The Dominican banking authorities are seeking a scapegoat for the banking crisis which they themselves allowed to happen. The country failed to detect a 14-year fraud. Mr. Renta, a distinguished and extremely successful financier and business advisor, has an impeccable record of business ethics."
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|Date:||Nov 11, 2005|
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