CONFISCATIONS/ Pedro Delgado
“I believe the best response in the face of such infamy are the hundreds of people gathered in this hall, showing their true, honest and sincere support, to a colleague, patriot and honest man, who for being so honest now faces such defamation, lies, as if those of us in government didn’t know. Pedro graduated as an Economist from the Pontifica Universidad Catolica of Ecuador, holds two masters degrees, one in corporate economics and a post graduate degree in Banking Administration in addition to various postgraduate courses in the fields of finance and banking regulations”.
Rafael Correa, speech honoring Pedro Delgado. (Hotel Quito, Sept. 13, 2012)
Honored cousin, counterfeiter cousin, fugitive cousin



Pedro Delgado Campana who is the cousin of President Rafael Correa Delgado began his career as a civil servant more than 15 years ago as the Risk Manager of CFN during the government of Jamil Mahuad.  His career culminated in late 2012 with his resignation as President of the Board of the Central Bank and head of the UGEDEP, after confessing that he had carried out all of his government employments throughout the 22 years with a counterfeit degree in economics that he had forged. He was simply a high school graduate.

The first time Pedro Delgado fled to the United States

In 2001, Pedro Delgado fled to the United States. This impetuous exit was the result of the representatives of Banco Popular filing a lawsuit against him for falsifying public documents.

Delgado had signed a forged report with the intention of causing the Banco Popular a loss. It was determined that the document was in fact phony because it was dated prior to time Delgado had been appointed as Chairman. It was due to that trial that the cousin of the current President Correa alleged to be politically persecuted in Ecuador.

The repatriation of the President’s cousin

In 2007, Delgado returned carefree thanks to his cousin President Rafael Correa who had appointed him as his economic advisor. Pedro Delgado along with his previous partners Juan Falconi and Carlos Bravo had obviously been one of the masterminds behind the confiscations of the Isaias Group. Correa appointed Delgado to preside over the Trust fund AGD-CFN No More Impunity and additionally had him head the Management and Execution Unit of Public Law (UGEDEP), the entity in charge of administering the confiscated assets.


To make things easier for his cousin, Correa sent the Project of the Code for Public Finance to the Assembly labeling it as economically urgent and as such it was approved in less than a month. The aforementioned code, contained many dispositions that allowed Pedro Delgado in complicity with Carlos Bravo (Manager of the AGD at the time) to happily manage the confiscated businesses while being protected from future claims by the former owners.

He preferred his cousin over his siblings

During his questionable time in his cousin’s government, Pedro Delgado had more support, was a greater protagonist and had more power than any other minister.  He even had more power than the President’s own siblings. He also served as the President’s personal delegate in numerous conversations between Ecuador and Iran, Russia, China and Venezuela.


Conscience of a series of violations, falsehoods and arbitrariness he had committed throughout his dark career, Delgado swiftly made sure he was granted special benefits from the executive like jurisdiction (equal to that of a legal magistrate) and an insurance policy that would cover his defense of possible lawsuits with such luck that the Ecuadorean State would pay for any litigation during or after his posts.

Delgado forged his economics degree 20 years ago

After the independent press and opposition legislatures investigated the details of the economics degree Pedro Delgado claimed to have and the loan from Cofiec for $800,000 USD to the argentine Gaston Duzac, his cousin Rafael Cornea defended him ferociously. He harshly criticized the opposition, the “corrupt” press and not happy with that he paid homage to him at a hotel in Quito.


Ultimately, Delgado confessed that he had forged his economics degree 22 years ago and resigned from all of the posts his cousin had appointed him to.  Delgado said he was traveling to Miami for the marriage of one of his children and did so the next day with the complicity of the authorities that did absolutely nothing to prevent him from leaving and thereby allowing a confessed counterfeiter to escape justice after holding high public offices for 22 years. 

From the Correista glory to fugitive of justice

Currently, the President’s fugitive cousin resides at 1864 NE 214 Terrace in High Land Lakes, in Miami, United States. Delgado faces a lawsuit for the counterfeit degree in Ecuador and an embezzlement investigation regarding the fraudulent delivery of a loan to the argentine Duzac.


As a high ranking official, Delgado and his wife, Veronica Endara, an employee at the Ecuadorean Consulate in Miami, held diplomatic visas. All of their companies in that city continue to operate. Integrare America Consulting, CONSULMAX are active and operate out of their residence.


Three other businesses that in 2012 were linked to Delgado continue to operate near the consulate in Miami Todos se ubican en la misma oficina, en el 117 NW 42 Avenue CU-1. located at 117 NW 42 Avenue CU-1. They are Colibri LLC, Mediterranea Venture LLC and Austro Financial Services. This last corporation is related to Banco del Austro. The Customer Service Assistant there is Nelly Lashman, Pedro Delgado’s in laws. She is also the Notary Public who works there.
As of December 2013, the registered agent of these companies was Juan Borja, a lawyer who is based in Quito. He transferred Delgado $ 200,000 USD to purchase his home in Miami a few days after his brother-in-law Francisco Endara pressured the employees at Cofiec to grant the loan to Gaston Duzac. Delgado’s house is said to be worth $365,000.00 USD.

Delgado involved in a loss to the State of 1.178 billion dollars

In 2007, the sitting President Rafael Correa Delgado asked the head of the National Finance Corporation (CFN) at the time, the economist Eduardo Valencia, to investigate the cause of the bankruptcy of the CFN during the banking holiday and to determine those responsible for the squandering of 1.178 billion dollars belonging to the entity.

The report found the responsible parties to be Juan Falconí Puig and Pedro Delgado. There are two copies of said report that have been delivered to the prosecutor’s office and the presidential palace that seem to have fallen asleep with impunity since 2007.

The secrets of the Banking Hollyday

During the government of Jamil Mahuad, Pedro Delgado Campana acted as Risk Manager of the National Finance Corporation        (CFN). Pedro Delgado and Juan Falconí Puig were the key players behind the Executive Degree 1492 that reduced the savings deposits held at that time by half.


This Decree forced the CFN to receive Certificates of Deposit (CDR’s) from private banks as payment toward loan obligations causing the debacle of the CFN to lose its liquidity and stock up on papers from virtually bankrupted banks, entities like La Previsora (Guerrero Ferber), Popular (Landes), Cofiec (Falconí Avellan), Union (Baquerizo), Finagro (Espinel), Progreso (Aspiazu Seminario), and 20 some odd banks that had clear connections to the powers that be at that time.


Because of this Decree, the CFN lost 1.178 billion dollars, according to the report prepared by the Commission headed by Eduardo Valencia that investigated the case in 2007, at the beginning of Correa’s government. This report is titled “The financial crisis of the CFN as a consequence of the imposition of the 1492 Decree (CDR’s and CPP’s) and receiving the portfolio of the AGD”.


Thanks to this document there is evidence that embezzlement and influence peddling were the greatest allies of the corrupt banks.  But, above all, it makes perfectly clear that the stars of this story are Juan Falconí and the cousin of the current president of Ecuador, Pedro Delgado Campania.


Until today, the result of that report has not generated any action on behalf of the prosecution, headed by another relative of the President, his distant uncle Galo Chiriboga.

Pedro Delgado, his brother-in-law Francisco Endara and the Duzac – Cofiec case
“Now, we are told that there is a loan granted by COFIEC, where the beneficiary is an intimate friend of Pedro’s, an Argentine citizen named Duzac I believe and where one of the infamous liars of this country, former union member of Petroecuador, totally corrupt, also said that he was a friend of mine because there is a picture of us taken at the Presidential Palace and they want to implicate Pedro with a loan granted to this Argentine citizen, that includes many irregularities and that we ourselves ordered he be investigated, but now it seems, why do they want to implicate Pedro, because he was close friends with this fellow, Pedro doesn’t even remember him, they said he had even traveled with him to Iran which is false”.
Rafael Correa, speech paying homage to Pedro Delgado. (Hotel Quito, Sept. 13, 2012)

Gaston Duzac, an Argentine citizen with unique privileges

A corruption case that disturbed the nation involving Pedro Delgado and his brother-in-law Francisco Endara, was the Duzac-Cofiec case, so-called because of the character caught in the middle of this dance of power, abuse and arbitrariness committed by the state run Banco Cofiec. This is the same bank Pedro Delgado intended on selling to the Pasargat Bank of Iran. The latter is on the black list of the US government.

Gaston Duzac, an Argentine citizen who posed with a smile at Carondelet, the presidential palace, with Rafael Correa and Pedro Elosegui, the President’s university classmate, jumped to stardom when it was proven that he had received a loan for $800,000 USD from Banco Cofiec without the necessary guarantees.
According to the complaints made by government opposition, this transaction was supposed to finance the Scanbuy corporation, a participant of the bid promoted by the Central Bank to operate the “mobile wallet” in Ecuador, a business belonging to the Argentine Jose Hussein who also had ties to Elosegui.
Duzac was simply a straw buyer that collected $20,000 USD at the cashier and the rest, $780,000 USD he ordered transferred to the Scanbuy accounts in Banks located in Switzerland and the US.


To grant the loan, Francisco Endara created a huge scene including making demands and pressuring the employees of Cofiec and brought forth the relationship to his brother in law and his close ties to President Correa. They intended on using businesses confiscated from the Isaias brothers as guarantees for the loan (Seguros Rocafuerte, Agricola Las Mercedes and Serfinsa). The curious thing about this case is that this suspicious loan executed hurriedly and in a brash manner occurred at the same time as the purchase of Pedro Delgado’s home in Miami which he acquired through transfers of monies he could never explain.

Trampled and influenced Process

The Board of Cofiec approved the loan to Duzac in December 2011. In the pertinent recording it can be seen how the legal norms are accommodated to facilitate the granting of the loan.   Antonio Bunay, who was president of Cofiec at the time, wanted to force Patricia Sandoval credit manager and Jackeline Jimenez, risk manager, to sign the order to process the loan; since the managers refused to sign surmising the lack of guarantees, Bunay signed for them.


Procedures were trampled upon there was influence peddling and even threats so that Gaston Duzac could finally benefit from that loan.  This was followed by the fall of the cousin as his counterfeit economics degree was revealed.

Not all involved are there, nor are they all present

Pedro Delgado and his brother-in-law Francisco Endara, ex official of the AGD Trust fund No More Impunity, as well as Antonio Bunay, ex president of the Banco Cofiec, were accused of banking embezzlement. Delgado is a fugitive of justice in Miami, Endara and Bunay were arrested in March 2014.

In May 2014, the Civil Court of Pichincha definitively filed away the case against Gaston Duzac due to supposed errors committed by the complainants. Neither Hussein nor Elosegui were investigated by the prosecution in spite of the fact that the Delgado’s attorney stated that Duzac had close ties to Elosegui and was his contact with the Ecuadorean authorities.

 

AUDIO: Francisco Endara presses for Duzac's loan at Banco Cofiec
Francisco Endara: fish dies by his mouth

On December 19, 2011 the loan was paid out. Francisco Endara was in Guayaquil and requested via e mail sent to Germanico Maya, President of the Board of Cofiec, to order the personnel working on the Duzac loan to wait for him at Cofiec for an urgent meeting that began at 7pm with the following employees:


(MO) Marcelo Ordenez Finance and Administrative Manager 


(PS)  Patricia Sandoval Credit Manager


(MM) Magali Murillo Zoila Montalvo (ZM) Credit Officer 


(JJ) Jackeline Jimenez Risk Manager 


(FE) Francisco Endara


At said meeting, Endara spoke on his mobile phone, apparently with Diana Macancela, President of the Credit Committee of Cofiec (DM), Gaston Duzac (GD) and Jose Hussein, shareholder of Scanbuy (JH). Endara implicates Pedro Delgado, Antonio Bunay and even the President of the Republic Rafael Correa Delgado as the responsible parties for this credit operation.   

Transcript of the recording


FE: "Excuse me…your names?"


Cofiec Officials: Patricia Sandoval, Magali Murillo, Zoila Montalvo


Phone rings and FE said: "Santi I will call you right back…"


Cofiec Officials: Jackeline Jimenez


FE: "Ahh…(sighs). I am here by the express orders of the Economist Delgado, because neither he nor I understand what is happening with the famous Gaston Duzac transfer. I wanted to know what is happening. Unfortunately, Antonio Bunay has disappeared. He doesn’t even answer Pedro, it seems…”

MO: "Let me tell you…Antonio spoke to me about two hours ago and told me to speak to you and inform him about this matter. I called but it sent me into a voice mailbox. The issue of the loan has been approved…”

FE (interrupts): "I mean…you understand who Pedro Delgado is and you understand who I am? 

MO: "Yes"

FE: "You understand that they sent me here urgently to Guayaquil for this matter. You understand that Mr. Gaston Duzac is the advisor to the President of Argentina and he has a link that seats him next to President Rafael Correa? We are clear on this, right?"
Cofiec: Officials "Yes, but we also have…"


FE: "No, no, no no. I’m sorry, I am not asking for explanations. If you were not going to proceed with this transaction you should have told me that a month ago.   I would not have gone to the CFN I would have gone to Banco de Fomento or any other place. As an idiot, I recommended Cofiec; and on Friday Mister Duzac was here for four hours because I forced him to come here. You made him sign all the papers and them you left him at the airport, wait for him to board the plane and call Pedro Delgado to…to…to… to speak stupidities.  He gets off the plane, meets with Pedro D…D…Delgado on Saturday and shows him all the documentation and they tell us on Saturday that all is well. Yesterday, they told me all was well. Today…today…they even send emails.  That if the transfer, that I don’t know what, they cc me, they cc me and around the corner it turns out that there is nothing; that there will be no transaction!  So I would like to know why you had the luxury of fooling me for a month because Pedro has asked me to make decisions today, decisions affecting all levels”.


MO: What has occurred it that the Board convened just yesterday. So that loan was just approved yesterday by the Board. The instructions from the Board arrived this morning and we have proceeded to enter it in the registry. There were certain inconveniences here.    “Antonio authorized the order of the transaction and I also authorized the date of issuance. This morning we made the transfer to the bank.


FE: "I want to see the swift!"


MO: "YOK" 


FE: "I want ..Because the only thing I asked was that the swift be sent to me and until now I have not received it in my hands.


MO: "Yes, what has happened is that we sent the transfer to our bank branch…"


FE: Diana. I’m at Cofiec. They th..th…they just told me that the Gaston Duzac transaction was just approved yesterday and you told me that it had been approved at the previous Board meeting
It wasn’t approved yesterday.  It…it..it was approved by the V Board… by the Virtual Board.  And I am talking to a member of the Board, I am not talking …not talking to an idiot”. 
Officials whisper


FE: "You…you…you at Central?". Ok you…you…you stay there!… that no, but stay there!. No…no…no don’t worry I will call you right back. So then…it is faster to catch a liar tan a thief my friend".
JJ: "Excuse me Engineer. On…there was a virtual Board meeting to present the proposal to the engineer Duzac that had been previously approved by the credit committee".


FE: "Correct".


ZM: "The credit committee approved it with certain observations. Isn’t that true? I am Zoila Montalvo, Credit Officer, I prepare the availability nothing more.  However, it was approved by the Credit Committee along with certain observations they made, for example, the delivery of certain documentation and the corporate documents of certain guarantees that had been offered.  It was sent to the Virtual Board, I believe it was the engineer that sent it, it was approved by the Virtual Board but, there was a change in the guarantee offers which had to be ratified and presented yesterday to the Board yesterday Engineer.  That is what happened.


FE: "I want to see the swift of the first transfer. I want to see it, physically. Because I will call Suzy this instant to confirm, by phone. I am going to call in front of you.  And if it is not true, you can believe there will be serious problems".


MO: "Yes. Let me tell you how the transaction works. We have AustroBank that is our affiliate banks. Through AustroBank we fund other Banks that were given the order for Gaston Duzac. Due to bank policy we have funds totaling USD$ 300 thousand dollars in AustroBank, because we manage that transfer. As recently as this morning we transferred 600 thousand dollars to AustroBank in order to fund these Banks abroad. So it takes AustroBank approximately two days to process these transfers to Switzerland and New York”.


FE: "Let’s see. You are not talking to someone who knows nothing about banking".
MO: "No, I know".


FE: "I understand perfectly, a transfer from Miami here for $10,000 dollars could take up to 8 days but, not $800,0000.  But we need to cover, it’s like with the internal transfer order I send that to Argentina and say it’s done. Wait those 4 days, 5 days and fight it out with your banks over there. They don’t need the money, they ne..ne..need the proof of the transfer”.


MO: "Yes correct. What occurs is that we till midday to make the transfer.  They will only accept the swift before noon".


FE: "Ok. What is the problem today?  
MO: "So, because we had problems at noon we were unable to process it.  Tomorrow we will have the swift ready".


FE: "So, the money has not been transferred".


MO: "It’s been transferred to AustroBank, the money and AustroBank is the one that funds Switzerland and …". 


FE: "Ok. I want to see the papers and I want to see them now. Because if it hasn’t … if it hasn’t I will make a call from here right now that will transfer me to the President of the Republic".


MO: "This is the order that was executed today…credit, sums…this is the order for the transaction …-signed by Antonio…".


FE: "This here we are surplus collateral this…this Rocafuerte…this is.. a lot of a million and a half dollars belonging to Maxigraf…" 


PS: "But , the Project has not been incorporated yet, nothing has been constructed. We have no legally binding guarantees".


FE: So Duzac is sending 3.5 million dollars in endorsed shares".


Various officials: "There is nothing here. We have nothing. We have no guarantees".


FE’s cell phone rings: "Hello. With…with…with everything.. ok. Okay, Okay. Love I am in a meeting… in a meeting, I leave here and will go there. Ok".


MO (shows FE the documents of the transaction): Here it is … from the Central Bank…that we funded AustroBank, the $ 582 thousand dollars to complete what we had 300 the 800 thousand".


FE: "This is to be sent today”!


MO: "Yes. This was sent today to the Central Bank so it could fund AustroBank. And tomorrow we will give AustroBank the order to make the transfer…"


FE: "Pedro was about to get off… at this moment he is going on vacation to Miami. He is about to get off the plane and come over here personally.


JJ: "Yes we would be delighted to speak to the Economist Delgado… to finally explain things to him. Because as a bank we cannot pay out something for which we have no guarantees. It’s $800,000 dollars Engineer”!


FE: "Look: you should know… how much money does the Trust fund have here? Who do you think brought that…sent that deposit order?  I gave the order of deposit…eating the entire Restructuring Law of the State, only because Cofiec needed Money for its funds. Don’t start inventing tales because I will give the order tomorrow to withdraw all the funds from Cofiec and the matter will be over and I will take it to Pacifico and it’s done! It’s that simple”!


JJ: "We are not in the habit of inventing things…we must comply with the laws of the Superintendent… "


FE (interrupts): "Like, excuse me…I…in the last year and a half have put… have put into Cofiec no less than 15 million dollars, or am I mistaken? 15 million dollars with my sole…with my order! And the minute I need a timing of two days, this occurs!..Timing of two days!”
JJ: "It’s that we have to comply with the laws of the Super of Banks…”


FE: "Okay, I too will comply with the laws. It’s over!. That is the response!. So sad. My… my… my accounts in January I will transfer the funds to… to Banco del Pacífico and I will begin to close the accounts of the confiscated businesses here too. What do you think will happen?"


JJ: "Obviously, that the bank will have serious problems. But we do not have the power, everything that you have to comply or not comply with a law”."


FE: "When Cofiec has asked me… has asked me for help, believe me, I have threatened ministers to get them to help Cofiec. Plan Victoria who do you think put it in Cofiec? Having Banco Nacional de Fomento, having BIESS…who do you think gave the order? Think.


JJ: "We are very grateful for everything done in favor of the Bank but, that does not exempt us from having to comply with the law because tomorrow or afterwards if we do not comply we may even be incarcerated Engineer. What shall we do? You truly have all the power in the world but, we are simply citizens who have to comply with the law”.


FE Speaks on his cell: "I’m busy. I’m busy, I’m busy. I am already in Quito but, … but, I am busy. Yes, yes, I… I… I have an interview in the morning and from there I am going to the office at 8:30 more, more or less. Good.


FE: "What does this paper mean?, ¿shouldn’t it be in AustroBank?, ¿what’s the next step… what comes next…?" 


MO: "The next step, from here, is to give AustroBank instructions to make the transfer to New York and Switzerland.
MM: "Engineer, I should tell you that the amount to be transferred is less… its $40,000.00 USD due to taxes".


FE: "Those are taxes. $40 thousand, are there any other taxes? Just 5%?
MO: "No just the exit tax and the service charge".


MM: "The paperwork demonstrating legal funds was also requested, it’s a document to retrieve the Money. That’s what is needed, that was sent to Mister Duzac for him to fill out, sign and return the document, right, because there is a new disposition from the Central Bank that it must be done for every transfer, the funds must be legally justified, whether they are coming in or going out”.


JJ and PS: The information for the transfer is complete it was requested from Engineer Bunay around… When was this? Two days ago? Yesterday, yesterday, yesterday they requested the information, today they should give us the information, including the contract you had asked me for. Ok. That is why the transfer is ready to be made.


JJ: "Another situation, another detail Engineer is that the AustroBank is not an affiliate bank of ours, but rather we are clients of the bank, so they do take some time because...".
FE: "Who are you talking to at AustroBank?


JJ: "AustroBank um… I speak to a man Mister Escobar regarding transfers.  So we have to give them the information so that they can proceed to make the…"


FE: "The $800 thousand dollar will be there… will be there tomorrow…"


MO: "Tomorrow or at the latest after tomorrow AustroBank"


FE: "I will make sure you receive the guarantees this week, earlier, earlier than this week, because as I said, I want to send more than $3 million dollars in guarantees.  What’s more, what Pedro told Gaston was to endorse the shares..the shares and get rid of the others, while I will make sure they guarantee everything.  Lot…everything. What’s happening is that the shares are in Argentina…”.

FE speaks on cell (it is not clear who he is speaking with): "Hello. Hello. They have transferred the $800,000.00 USD to  AustroBank . Is there a way to speak to (Illegible name) or with someone from the Banco del Austro so that they can send the transfers to Buenos Aires and Switzerland? OK. OK. Yes,yes,yes it’s leaving tomorrow. Yes right now, ok tomorrow. You relax. Okay, okay, okay. Ok…I…I… I… look, I’m… I’m going to explain what the situation is in Argentina at this moment. I already spoke to the HCBC through Gaston.  If we send the scan of the transfer, they deposit $200,000.00 dollars. So they request the scan of…of the transfer, for…for…for the payment in Switzerland. Okay, give me a copy of this… yeah okay, yeah. You speak to AustroBank and better yet speak to AustroBank one day prior so they can move everything. Okay fine".

FE: "I… when I ask for something, in my life I have never left …things uncovered. Ok, and that is why I am still here. I think the Doctor knows me…me… a little more. When I say the guarantees are coming, the guarantees are coming. The thing is that this is a business that even the Central Bank of Ecuador is in. If the transfer was not made today, everything would fall apart.  We would have to start from zero and this process has taken a year and a half, okay? So, I just want you to understand that.  And had I known this was going to happen, a month ago, I would have directed the fire in another direction because obviously we wanted to make the transfer with Cofiec, because it was our bank, because we have taken care of it, because we all know what state the bank was in when we took it and the state it is in now, everybody knew, it is not…”

JJ: "I apologize for interrupting but we were introduced to Mister Duzac just a week ago"

FE: "That’s because I grabbed and I said  that this…this.. this matter we have managed for more than a month and technically Gaston –and thank God I have Antonio’s  mails- that tell, tell Gaston to coma and sign. He came one week, he came for two days and stayed for a week. In other words, I know that this is really not your fault and that you found out.. about…”

JJ: "Yes. A week ago…"

FE speaks on his cell phone again (possibly Juan Hussein): "Hello. Hello. Let’s see I am seated at Cofiec at this moment, right? Um…they made the transfer to an affiliate bank today, $800,000.00 dollars, right? What’s more, I have the document in my hands, right? Tomorrow assuredly… let’s wait and with any luck it will appear tomorrow at the affiliate AustroBank in Panama, ok? We already spoke to the manager of the… at this moment they are speaking to the manager of the banco del Austro that is (illegible name) and if not Pedro told me to let him know so that he can talk to Juan Eljuri to speed up the transfer so that you can get it as soon as possible. 
When the swifts are ready, which is what you need, I will have them scanned and send them to you by email, ok? I need, and this I need urgently, that you endorse the Scanbuy shares and send them to Cofiec, it doesn’t matter that its tomorrow, that it be tomorrow, but scan them and send them to…to…Cofiec and from there we will send by certified mail and…and…and…that they get here by some form. Because this,…because I am still going to guarantee with Rocafuerte and I am still going to guarantee with Maxigraf, in other words it is going to be over guaranteed, ok? But the transfer has been done. Yes, yeah, yeah, yeah I sent it…I sent a photo to Cristian (illegible name) where he is laughing with me, I’ll get to the office, scan it and send it to you.  What happened is that the document no…no…no your name is not anywhere on it, it simply states that the money is transferred to the account …by the Banco Cofiec in Panama. But, that money corresponds to your…your transaction, yeah I am still going to send it to you. right? No. No. No. No. No. Look, what it says is we authorize the withdrawal from the checking account from Banco Cofiec the sum of $582,000.00 dollars which is what is lacking in the…in the… Panama account…the amount of City Bank New York, ABA, swift, bla,bla,bla. For the checking account number 32 of AustroBank Overseas Panama…of Cofiec. What they are doing is transferring the funds to their account in Panama and it’s just…will be asked …officially tomorrow that…that it should be transferred directly into your account.
Do you need them to prepare any additional documents? to send you? OK. Give me a second don’t hang up. Don..don..Don’t hang up. (he speaks to the Cofiec officers) Could..could you write me a letter, right now, to Gaston and me to whomever it should be  indicating that this document is in reference to the transfer for Gaston Duzac?"  


MO: "Correct".


FE: (his conversation on his cell continues) "Yes. They are going to write a letter… this… this moment to the bank… for you, stating that the registry was to transfer the transfer it’s..it’s it corresponds to your loan. Of course, it’s the part that, that, that is missing to speak in Panama. Ok. Ok. Ok. Yes, ummm, ummm they made me jump from Guayaquil here on a plane and come here as if I were…”   

JJ: (comment) "Yes the loan will take a little time because of operations…"

FE: "Eee… they already know that. They already know that. Yeah okay. Okay. Mmm…mm… I will call you later. I…I have the… the papers and I will call you again".

FE calls someone else on his cell "Chino!. With that we can relax, we have time to release the guarantees  that tomorrow we will endorse the shares, they will surely send me an email  telling me how to endorse the shares and to whose name… and from there they send us here. You send it here by express mail. You scan them once they’re endorsed and send them by express mail.  That is the last step we have to take. We missing anything else?"


JJ: "Yes, some documents. It’s that Mister Gaston’s file only contains a copy of his Passport, nothing else".


JJ: "Send me the internal documents that the Engineer Buñay had requested from him, because he said that it wasn’t a problem that he would have them scanned over to us".


FE: "Let’s see. Give me the list of everything that was asked of him".


JJ: "Yes because the file only contains the Passport and nothing else…"


FE: "Give me everything that is needed and I will have get everything by Friday. If I have to send somebody to Buenos Aires to grab ( Duzac), pull him and bring him back. Two weeks ago they sent me to Buenos Aires for * hours because of this project, they sent me for 8 hours. I arrived at 3 in the afternoon and I left at 11 pm. So you see…”PS: "But if you look at this right now we have no guarantees, we have nothing”.


FE: "Give me a copy of that too. Look in…in the letter that you write state that this is the transfer of $582,000.00 dollars which corresponds to completing such transaction and completing the $800,000.00 dollars. Seven hundred sixty thousand dollars for Gaston…ok..we’re leaving now, from this day that has been crazy here. I was in charge of the sale of MaKro in Guayaquil.


END.


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VIDEO: Delgado: fugitive in Miami
Deep news coverage by Sevcec about Pedro Delgado y and his life in Miami
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