The financial intermediation service, which is the business on which it is based 3.14 Inversiones, the company of Wilkin García Peguero, known as Mantequillamust be controlled by the corresponding entities, such as the Central Bank of the Dominican Republic, the Superintendency of Banks and other entities, as established by Law 183-02 on the Regulatory Regime of the Monetary and Financial System of the Dominican Republic.
Other financial intermediation organizations, such as the case of the cooperativesare regulated by the regulations of the Cooperative Development and Credit Institute (Idecoop). However, for both cases, the Money Laundering Law (155-17), establishes that these entities are “obligated subjects”, which means that they are obliged to withhold the taxes that the people who receive Benefits.
In this sense, experts in criminal law consulted by this newspaper explained the legal status of the type of business like Butter and those who are in the world of cryptocurrencies in the country, since they do not appear in the Dominican Penal Code.
For experts in the matter, contrary to what is believed, there is a regulation for this type of trading.
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«I think there is a regulation but in the financial regulations, and (Butter) could be the subject of an investigation by suspicion of money launderingthat in the criminal type yes, an investigation can be opened on suspicion, ”said the lawyer Cándido Simón.
But if Butter is not shown to be committing an offense, then there would be no sanction, Simón points out. «Because it may be that he has a significant sum of money and is willing to donate it in that way. Because there is no way for you to pay 100% reimbursement interest”said the expert, who also questioned how the young man from Sabana Grande de Boyá, in the Monte Plata province, operates.
To do?
Based on this, Simón considers that, despite the fact that the pyramid scheme is not classified as a crime in the laws, financial entities should not remain on the sidelines. “That calls for an intervention by the Monetary Board, which is chaired by the Central Bank, which may perfectly require that the Public Ministry open an investigation that can determine whether or not there would be a potential scam in the case of the species,” said the official. attorney.
What about cryptocurrencies?
About the cryptocurrencies, that business in the Dominican Republic is not expressly regulated either, until now. And since it is not regulated, explained the expert in legal material, it is argued that it is allowed, since it is not prohibited.
Therefore, both businesses in criminal matters share the same legal profile in the country.
Whats Next?
The also lawyer Bunel Ramírez, a criminal lawyer, understands that what happens is that the crime of fraud is a public action at a private instance and the prosecuting body cannot act, but through a complaint or complaint of scammed people.
In that sense, complaints against Butter or the type of pyramid business are needed to act in criminal terms.
What the Superintendent of Banks Proposes
To all this, Alejandro Fernández, the Superintendent of Banks, proposed last week after warning about the business of the young man from Sabana Grande de Boyá that, together with the Superintendence of the Securities Market, “prepare a bill to classify and penalize this type of activity so that we can act preventively, without having to wait for a private complaint for fraud.
Last Monday, the official warned that Butter could be investigated for laundering.
Butter wants to regularize?
Several supposed representatives of the General Directorate of Internal Taxes (DGII) would have gone to 3.14 Inversiones, the company of Wilkin García Peguero, known as Butterwith the purpose that said business, located in the Sabana Grande de Boyá municipality, Monte Plata province, be regularized.
This was reported to dozens of people by the vice president of the company and brother of Butter, Wilton García Peguero. “For us to regularize the business in a normal way between 3.14 and the people,” he said.
In several videos that were published on social networks, it can be seen how during the visit of the alleged representatives of the DGIIseveral people were stationed outside the facilities of 3.14 Inversiones to cheer Butter.
