Tuesday, November 30, 2021

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Chilean president cornered by Pandora Papers

Chilean president cornered by Pandora Papers

Santiago, Chile, Oct 5 (Prensa Latina) Chilean President Sebastian Piñera is in the heart of a scandal over business in tax havens revealed in the Pandora Papers, and he might be subjected to a constitutional process.
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According to documents leaked by the International Consortium of Investigative Journalists (ICIJ), in collaboration with Chile’s Ciper and LaBot, the president and his family sold shares of the Dominga mining project in 2010 for 152 million dollars to his friend and businessman Carlos Alberto Delano.

Part of the transaction was made in the tax haven of the British Virgin Islands and the payment had to be made in three installments, the last of which was on the condition that the mining deposit area was not declared an environment protected zone.

After qualifying the events as serious, opposition lawmakers agreed to set a commission of experts to review the legal arguments that could make an accusation against the president viable.

On Monday, Piñera made statements from the Presidential House at ‘Palacio de la Moneda’, where he assured that since April 2009, before assuming his first presidential term, he got separated from the administration and management of family businesses.

According to the president, the sale, the structure of the sale and the payment clause were known by Chilean media in 2017 and were investigated by justice, which determined that there was no crime.

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