To: PaulM who wrote (11101 ) 5/4/1998 12:45:00 PM From: long-gone Read Replies (1) | Respond to of 116762
A US banker on the lam: NEWS BANKER NOW ON LAM LIVED HIGH ON HOG By DAREH GREGORIAN The fugitive banker who feds say disappeared with $66 million of his company's money was living the high life years before he vanished, The Post has learned. Ricardo Carrasco, 42, was last seen Feb. 19, when he skipped a meeting with his BankBoston bosses to discuss the whopping amount of missing cash. He's been on the lam ever since, officials said. Carrasco, a native of Uruguay who was assigned to BankBoston's New York office 10 years ago, started embezzling the cash in 1994 by making bogus loans and credit extensions to a shady Argentine businessman and his companies, according to affadivits filed in federal court by the Manhattan U.S. attorney. Within a year, financial records show, he was enjoying the best the Big Apple has to offer. "All signs indicate he'd been living it up," said Joe Valiquette of the FBI's New York office. He rented a 2,500-square-foot loft on Bleecker Street in Greenwich Village for $4,100 a month and would often be seen in trendy night spots like the Bowery Bar and Twilo. He had two cars - a Toyota Land Cruiser and a Jaguar. He got a house in tony East Hampton, and he co-owned an antique store with a friend in Long Island. Carrasco had seven credit cards, and in 1995, he racked up more than $84,000 in charges on just one of them, including $45,000 in merchandise for his home and $10,000 in dining bills from ritzy restaurants. Another $15,000 went to travel expenses, including vacations in South America and the Caribbean. His salary at the time was $288,000 a year, plus about $100,000 in stock options. He got a raise in 1996, making $345,000, but his world started to crash in around him toward the end of last year. In the fall, bank officials noticed several "irregularities" at the New York branch, investigators said. When he was first confronted by his superiors, Carrasco, a 20-year employee of BankBoston, acknowledged some money was missing because of "administrative errors," one investigator said. But an internal audit by the company early in January showed that up to $70 million was missing from his department. Bank officials flew down from Boston on Feb. 19 to meet with Carrasco, but he never showed up. He apparently went back to his apartment and packed up some clothes. But most of his expensive belongings, including designer suits, a home entertainment system and the two cars, were left behind. Doing record checks, investigators determined he spent the next few nights in a flophouse on Jane Street before flying to California under an assumed name. Carrasco is unmarried and has no relatives in the United States. Officials fear he's fled the country and have launched an international search for him. "The focus is to determine how the theft occurred and to what extent he profited. We have more questions than answers," Valiquette said. BankBoston has offered a $10,000 reward for information leading to Carrasco's arrest and conviction. Anyone with information on the case is asked to call the FBI at (212) 384-1000. "Among our white-collar criminal investigations, he is a major, major fugitive," Valiquette said. "He's someone we would love to apprehend." MORE NEWS Copyright (c) 1998, N.Y.P. Holdings, Inc. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission of the New York Post is prohibited.