RESULTADOS AUDITADOS DURANTE LA GESTIÓN DE GUSTAVO GÓMEZ LÓPEZ AL FRENTE DEL BANCO LATINO INTERNACIONAL MIAMI.
During Gustavo Gomez Lopez’s tenure as President of BLI, its income increased and its patrimony grew 36%.
EVOLUCION PATRIMONIAL
BANCO LATINO INTERNATIONAL
1993-1997
There are no losses between the two financial statements of BLI; on one hand, the financial statements of November 1.993 ( the last financial statement presented by Gustavo Gomez Lopez and the private administrators, and on the other hand, the financial statements dated June 30 1.997, after FOGADE had sold the deposits to Sun Trust Bank.-)
IF THERE ARE NO LOSSES IN THE BALANCE SHEET, THERE SHOULD BE NO CLAIMS
• According to the Minutes of the Board of Directors, that took place on March 15 1.993, ( date on which Gustavo Gomez Lopez is named President of BLI ) the patrimony of BLI was US$ 17.958.135
Shareholder’s Equity
April 93 Mar. 93
SHAREHOLDER’S EQUITY
Paid in capital 5.900.000
Capital in excess 622.557
Retained Earnings:
Available for distribution 9.920.135
Allocated for legal Req. 1.001.927
Current year Profit 513.516
Shareholder’s Equity 17.958.135
• According to the financial statements of November 30 1.993, that is the last financial statements attributed to Gustavo Gomez Lopez administration, there is a strengthening of BLI patrimony as we can see under: .
Shareholder’s Equity
Nov.93
SHAREHOLDER’S EQUITY
Paid in capital 5.900.000
Capital in excess 622.557
Retained Earnings:
Available for distribution 9.920.135
Allocated for legal Req. 1.001.927
Current year Profit 1.894.182
Shareholder’s Equity 19.338.801
During Gustavo Gomez Lopez’s tenure as President of BLI, its income increased and its patrimony grew 36%.
Current Year Profit Variance 92 – 93
April November
PROFIT 92 93 Vr.% 92 93 Vr %
405.337 513.516 26.68% 1.392.341 1.894.182 36.04%
CONCLUSION:
In March 1.993 when Gustavo Gomez Lopez was named Chairman of BLI the bank’s patrimony was US$ 17.958.135. On November of that same year, that is nine months later, the patrimony of the bank had a net increase of US$ 1.380.666, in other words, the bank’s patrimony was US$ 19.338.801.-
According to Price Waterhouse audited report, on June 30 1.997 BLI’s patrimony was US$ 19.338.318. This amount was obtained only through the assets and rentability of BLI. The shareholders did not provide new equity. Price Waterhouse’s report was presented on May 1, 1.998
Stockholder’s Equity
Jun. 30/97
Common Stocks 4.502.000
Additional paid in cap. 10.311.741
Retained Earnings: 4.524.577
Stockholder’s equity 19.338.318
There is a difference of US$ 483 in relation with BLI’s patrimony of November 1.993; that is the last financial statements attributed to Gustavo Gomez Lopez. –
Shareholder’s Equity Variance Nov 93 – Jun 97
November 93 Jun 97 Variation
(…)
Stockholder’s equity 19.338.801 19.338.318 (483.00)
The difference between the two financial statements is less than $ 500. However, FOGADE and the new administration of BLI have spent more that $ 10 millions trying to collect that difference.