Luis Álvarez Renta

Luis Álvarez Renta (born April 9, 1950) is a Dominican economist. Álvarez Renta was found liable by a federal jury in Miami of civil racketeering and illegal money transfers in a conspiracy to loot Baninter bank during its final months of existence in 2003, for which Álvarez Renta was ordered to pay $177 million to Dominican authorities in November 2005.

Luis Rafael Álvarez Renta was born in Caracas, Venezuela. His father, Virgilio Álvarez Saviñón, was a renowned and wealthy Dominican engineer who had been forced into exile during the dictatorship of Rafael Leónidas Trujillo in the Dominican Republic. Arriving in Venezuela with twenty dollars and a suitcase, Álvarez Saviñón was able to re-establish his fortune in Venezuela. It was said that in Caracas, "anywhere you looked something had been built by Virgilio Álvarez."

His mother, Thelma Renta, was the sister of fashion designer Oscar de la Renta, and a major social figure in the Dominican Republic in her own right.

Álvarez Renta studied in Venezuela and the Dominican Republic, eventually earning a full scholarship to a Dominican University. He was also able to study in the United States, attending both the University of Michigan and Washington University in St. Louis. His performance in university did not go unnoticed, and he was offered scholarships for graduate work at both Cornell University in Ithaca, New York, and at the MIT Sloan School of Management in Cambridge, Massachusetts. He attended MIT Sloan and received a Masters in Finance. He would later establish a professorship there.

During his early career, Álvarez Renta was offered a number of jobs in the United States. He chose, instead to return to the Dominican Republic. At first, he engaged in the public sector, serving as Sub-Secretary of State for Industry and Commerce, advisor emeritus to the Presidency for Commerce and Finance, and director of CEDOPEX, the oversight agency for Dominican exports.

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