Ecuador to Investigate Officials for Possible Fraud

(Energy Analytics Institute, 11.May.2016, Clifford Fingers III) – A number of public officials are under investigation for irregularities related to declaration of goods and links with companies created in tax havens.

The officials being investigated include: PetroEcuador’s former General Manager Álex Bravo Panchano, current PetroEcuador General Manager Pedro Merizalde and Ecuador’s former Hydrocarbons Minister Carlos Pareja Yannuzelli, reported the daily El Universo, citing comments from Ecuador’s Treasurer Carlos Pólit in Ecuavisa.

“We have detected the omission of certain information in the asset declarations of former PetroEcuador officials, and possibly some officials currently with the company,” said Pólit. As a result, we will review the public administrative information from the past seven years, he said.

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