Feds Nab Ex-Doral Treasurer In $4B Fraud Case

Law360, New York (March 6, 2008, 12:00 AM EST) -- The former treasurer of Doral Financial Corp. has been indicted over his alleged role in a massive securities fraud scheme that is believed to have cost the Puerto Rico-based mortgage lender’s shareholders an estimated $4 billion.

Mario S. Levis has been formally charged with securities fraud and three counts of wire fraud, the U.S. Attorney’s Office for the Southern District of New York revealed Thursday, marking yet another chapter in the ongoing Doral saga.

Prosecutors contend that Levis helped carry out a scheme to manipulate the...
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