Colombia's tax payers to pay debt corrupt corporation owes to itself
Colombia’s tax payers to pay debt corrupt corporation owes to itself
by Adriaan Alsema July 25, 2019
Colombia’s government has agreed to pay banking conglomerate Grupo Aval $375 million that one of the corporation’s subsidiaries partially owes to its sister companies.
The controversial agreement is the consequence of the government’s decision to liquidate the consortium formed by Grupo Aval subsidiary Corficolombiana, Brazilian engineering firm Odebrecht and Grupo Solarte.
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Now the bad news
This protection of the interests of third parties means that the government will take $375 million (COP1.2 trillion) from the national budget to pay the liquidated consortium’s debts to banks.
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Until recently, the Prosecutor General’s Office was run by Nestor Humberto Martinez, the former attorney of Grupo Aval and its majority owner, Luis Carlos Sarmiento, Colombia’s richest man.
Orozco’s boss, President Ivan Duque, owes Grupo Aval $4.8 million (COP15.2 billion) he borrowed to finance his
https://colombiareports.com/colombias-tax-payers-to-pay-debt-corrupt-corporation-owes-to-itself/
https://colombiareports.com/colombias-tax-payers-to-pay-debt-corrupt-corporation-owes-to-itself/
