CABEI Sues Ex-President Dante Mossi over Market Regulation Violations

The Central American Bank for Economic Integration (CABEI) has initiated legal action against its former president, Dante Mossi, alleging multiple market regulation violations. The claims involve breach of fiduciary duty, market manipulation, and use of loans for corruption. The case highlights financial and transparency concerns during Mossi’s tenure.

The Central American Bank for Economic Integration (CABEI) has taken legal action against its former president, Dante Mossi, in a U.S. district court, alleging multiple violations of market regulations.

According to CABEI, Mossi is accused of breaching the Racketeering Influenced and Corrupt Organizations Act (RICO), fiduciary duty, market manipulation, tortious interference, and contract breach. An investigation by the Organized Crime and Corruption Reporting Project (OCCRP) had previously revealed that under Mossi's tenure, the bank funded major infrastructure projects later involved in scandals and used loans for bribes.

In 2021, nine of CABEI's directors voiced concerns about the bank's financial health and transparency, issues that were ignored. Mossi, who led the bank from December 2018 to December 2023, defended his leadership on social media, though he has not responded to requests for comment.

(With inputs from agencies.)