When the banker arrived on the island, he made a good first impression. 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 Wall Street investors had put up $610 million, but Doral continued to lose money, and they were losing patience. 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. Spagnoletti, 57, was the No. 2 executive at Doral Bank in San Juan, Puerto Rico. It was June 15, 2011, the day before his wife’s birthday, and he was planning a celebration. On the day Maurice Spagnoletti was murdered, his black Lexus sedan was full of balloons.
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