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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: August 22, 2000
ORIENTAL FINANCIAL GROUP INC.
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(Exact Name of Registrant as Specified in its Charter)
Commonwealth of Puerto Rico 001-12647 66-0538893
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(State or other Jurisdiction of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
Monacillos 1000
San Roberto Street
Rio Piedras, Puerto Rico 00926
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (787) 771-6800
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ITEM 5. OTHER EVENTS.
On August 22, 2000, Oriental Financial Group Inc. (the
"Company") reported that the release of its financial results for the fiscal
year ended June 30, 2000 would be delayed until the Company determines the
appropriate accounting treatment for a previously disclosed loss resulting from
dishonest and fraudulent acts and omissions by a group of former employees of
the Company. The Company further reported that Federal Insurance Company, Inc.,
a stock insurance corporation organized under the laws of the State of Indiana,
has denied the Company's claim for recovery of the losses resulting from the
former employees' conduct, and that the Company has filed a lawsuit in the
United States District Court for the District of Puerto Rico against Federal
Insurance Company seeking payment of its $9.5 million insurance claim and the
payment of consequential damages resulting from the denial of the claim. A copy
of the press release is attached as an exhibit to this current report on Form
8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(c) Exhibits
Exhibit No. Description of Document
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99 Press Release dated August 22, 2000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ORIENTAL FINANCIAL GROUP INC.
Date: August 23, 2000 By: /s/ Rafael Valladares
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Rafael Valladares
Comptroller and Principal Financial Officer
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INDEX OF EXHIBITS
Exhibit No. Description of Document
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99 Press Release dated August 22, 2000.