Maurice J. Spagnoletti

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MAURICE J. SPAGNOLETTI NEW JERSEY Maurice J. Spagnoletti, 57, of New Jersey, passed away June 15, 2011. He is survived by his wife and children. Maurice was the Executive Vice President of Mortgage and Banking Operations at Doral Financial. Prior to joining Doral, he served as President of the Carolina First Bank. He previously served as President and CEO of Fifth Third Bank, and as Regional President & CEO of Summit Bank in Pennsylvania. Spagnoletti held a Bachelor of Science from St. Peter's College and a Master of Business Administration from Fairleigh Dickinson University. He also held a graduate degree from the Consumer Bankers Association's Graduate School of Banking at the University of Virginia. Visitation at the Leonardis Memorial Home 210 Ridgedale Ave. Florham Park, NJ (www.LeonardisMemorial Home.com) on Wednesday from 2:00 - 4:00 and 7:00 - 9:30 p.m. Funeral on Thursday assembling at 10:00 a.m. followed by a mass at St. Rose of Lima Church in East Hanover at 11:00 a.m. Interment at Gate of Heaven Cemetery. In lieu of flowers, donations may be made to: The Children of China Pediatrics Foundation, Att: Dr. John P. Connor Board Member & Associate Medical Director, P.O Box 5594, New York, NY 10185, 212-248-7561, www.ChinaPediatrics.org Leonardis Memorial Home Inc. 210 Ridgedale Ave. Florham Park, NJ 07932 (973) 377-5050 .

Published in The Jersey Journal on June 21, 2011
- See more at: http://obits.nj.com/obituaries/jerseyjournal/obituary.aspx?pid=152127718#sthash.yVw4HjFf.dpuf

http://obits.nj.com/obituaries/jerseyjournal/obituary.aspx?pid=152127718

 

Crime Wave in Puerto Rico Takes Life of Banking Executive

SAN JUAN – The latest victim of Puerto Rico’s wave of crime is a senior executive of Doral Financial Corporation, gunned down in downtown San Juan as he was driving in his car.

The 56-year-old Maurice J. Spagnoletti, Doral’s executive vice president of Mortgage and Banking Operations, on Wednesday night became the 515th crime fatality so far in 2011, a figure exceeding by about 90 the number of murders committed on the island by this time last year.

Spagnoletti had been living in Puerto Rico for six months.

Police Commander Orlando Melendez reported that although the executive had recently headed the bank’s restructuring authorities still do not know whether the murder is linked to an audit he launched of the financial institution.

Melendez insisted that the audit, which according to the San Juan press uncovered irregularities, cannot be pointed to as the factor that led to the death of Spagnoletti, whose killing appeared to be a professional hit.

The police commander said that the victim was shot three times in the head as he was attempting to flee in his vehicle from pursuers on the De Diego Expressway in downtown San Juan.

“Up to now, preliminarily, that is what we understand,” he said, adding that this was a murder perpetrated by one or more experienced gunmen.

Melendez said that the island’s police commissioner, Jose Figueroa Sancha, immediately activated an elite homicide squad to investigate the case.

The press reported that Spagnoletti had collaborated in an investigation with federal authorities but gave no further details.

Doral Bank, which with 40 branches sprinkled around the island and about 500,000 account holders and is one of Puerto Rico’s main banks, limited itself to releasing a curt communique in which it lamented the banker’s death.

“This is a tragedy and a very sad day for Doral Bank,” spokeswoman Lucienne Gigante said. “We lost a dear friend and top executive of our company. But, most important, he was a family man.”

Spagnoletti leaves behind a 5-year-old daughter.

Regarding speculation related to any improper conduct by the board of directors, the communique emphasizes that “it is completely misguided,” adding that Spagnoletti was an exemplary executive with high integrity who was much respected and admired.

Gigante dismissed speculation about misconduct at the bank as “totally false.”

“Maurice was an exemplary executive of the highest caliber and integrity. In the six months he was here he earned our respect and admiration,” she said.

Spagnoletti, due to his professional profile, is quite different from most of the dozens of people murdered each week on the streets of Puerto Rico, yet the modus operandi of the killers was very similar to that employed by local drug gangs.

Puerto Rican authorities attribute the spate of murders to a battle over control of drug corners in San Juan.

Police in December 2009 launched an operation to break up the drug sales networks, a campaign that has resulted in the elimination of 300 street corner drug sales sites and more than 1,000 arrests, according to the most recent data. EFE


http://www.laht.com/article.asp?ArticleId=399454&CategoryId=14092

 

A Senior Banker Was Just Gunned Down In Puerto Rico In A Suspected Professional Hit Job
Courtney Comstock

Jun. 17, 2011, 10:07 AM

A banker was gunned down in Puerto Rico on Wednesday and at least one Puetro Rican news agency suspects that it might have had something to do with an audit he had recently launched.

The banker, 56-year old Maurice J. Spagnoletti, was Doral Financial corporation's executive vice president of Mortgage and Banking Operations. He had only been working at Doral for 6 moths when he was killed.

What happened is scary. Caribbean Business News says that he was driving a Lexus near the intersection of Muñoz Rivera Avenue and the Minillas Tunnel on the major highway in the capital of San Juan when gunmen, who had been trailing him, shot him three times.

“The shots were very well placed,” the police chief told Caribbean Business News.

So well placed that now detectives are investigating the crime. One angle is that the killing might have had something to do with recent layoffs. According to CBNews:

Investigators have asked Doral Bank security for a list of employees who were laid off under a restructuring effort spearheaded by Spagnoletti.

Another angle is that it might have had something to do with an audit of Doral that he had recently launched. According to the Latin American Herald Tribune:

The press reported that Spagnoletti had collaborated in an investigation with federal authorities but gave no further details...

[The police chief] insisted that the audit, which according to the San Juan press uncovered irregularities, cannot be pointed to as the factor that led to the death of Spagnoletti, whose killing appeared to be a professional hit.

The police commander said that the victim was shot three times in the head as he was attempting to flee in his vehicle from pursuers on the De Diego Expressway in downtown San Juan.

Spagnoletti had an impressive career in banking. A snapshot of his working life from LinkedIn says:


Read more: http://www.businessinsider.com/banker-gunned-down-in-puerto-rico-professional-hit-job-maurice-spagnoletti-2011-6#ixzz3UJdz7Euz

http://www.businessinsider.com/banker-gunned-down-in-puerto-rico-professional-hit-job-maurice-spagnoletti-2011-6

 

Doral Bank Charged with Murdering a Whistleblowing Bank Executive - See more at: http://www.jdjournal.com/2013/06/19/doral-bank-charged-with-murdering-a-whistleblowing-bank-executive/#sthash.f8kbYwN7.dpuf


After two years without a charge for the death of Maurice Spagnoletti, the former Doral Bank executive, his widow has claimed a wrongful death suit against the bank he worked for. Police do believe that Spagnoletti was killed in a hit, an orchestrated event, that resulted in him being shot multiple times in his Lexus, while driving home to his beach front property on a busy highway. The widow and her family allege that the bank arranged to have him done in because he was exposing fraud within the bank. Spagnoletti, 56, was shot in 2011. Prior to that, he had been exposing abuses of the bank, and they had been trying to bar his attempts. “Spagnoletti lived in fear of imminent death and suffered mental anguish prior to being shot multiple times while driving alone in his car,” the suit says.


The FBI, meanwhile, is clueless in their investigation. “We have had some leads, but not enough to bring charges. That’s why we have been placing more emphasis on this case. It is very important to us,” said U.S. Attorney Rosa Emilia Rodriguez, according to Reuters.

The bank necessarily denies all allegations. “It is false, frivolous and has absolutely no legal basis,” the company said in a statement, also mentioning that they have cooperated with authorities. “[We] are confident that we will prevail against this malicious and reckless action that has no basis.”

No basis? At least it is suspicious that Spagnoletti was uncovering fraudulent accounting practices and improper payments, and seeking to have a senior bank employee fired for making hundreds of thousands of improper payments. Spagnoletti also received threats after he pursued this line of inquiry, suggesting a connection with his untimely death.

Doral Bank is Puerto Rico’s sixth largest bank, with 26 branches in Puerto Rico, Florida and New York.
Doral Bank Charged with Murdering a Whistleblowing Bank Executive by Daniel June -

http://www.jdjournal.com/2013/06/19/doral-bank-charged-with-murdering-a-whistleblowing-bank-executive/