The Strange Story of a Murdered Banker in Puerto Rico

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.

The rest of the story here: The Strange Story of a Murdered Banker in Puerto Rico

I ran into this story today while doing my usual news rounds to get up to speed on whats going on in the world today. I thought it was an interesting and weird story with hints of conspiracy thrown here and there. Though everyone would enjoy it. I will try and dig up more information on it when I have more time. In the meantime, enjoy.

a reply to: Ocelot

That is a curious tale.. when it comes to hundred-million (or billion) dollar secrets, anyone who threatens the secrecy can and will be eliminated without hesitation. Money makes the world go 'round... sadly.

a reply to: Ocelot
OK, one problem solved, but there are lots of bankers still doing what they do.
Can only be a good start...

originally posted by: DerBeobachter
a reply to: Ocelot
OK, one problem solved, but there are lots of bankers still doing what they do.
Can only be a good start...

The saddest part about this story is that he left a wife and young daughter who will grow up without her father there.

a reply to: Ocelot

Banksters, definitely banksters.

Reminds me of the Banco Ambrosiano stuff.

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.

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.

I'm sure that may have played a part. He went in there and ruffled some feathers and pissed someone or some group off. The investigation into his death is still ongoing so we may get more details eventually.