Reficar: Colombia’s ‘biggest corruption scandal in history’ good for a $16M prostitution bill [View all]
Reficar: Colombia’s ‘biggest corruption scandal in history’ good for a $16M prostitution bill
written by Adriaan Alsema May 5, 2016
An embezzlement scandal at Colombia’s main oil refinery, Reficar, has become Colombia’s biggest corruption scandal ever, with $4 billion missing and a $16 million prostitute bill.
Colombia’s senate needed ten hours on Tuesday to debate about the political responsibility of the staggering overspending on the modernization of Reficar.
Mauricio Cardenas, the finance minister, and Juan Carlos Echeverry, the former finance minister and current president of oi company Ecopetrol, among others, were grilled by senators about the corruption scandal that’s even bigger than the next four corruption scandals together.
. . .
How the scandal unfolded
In 2004, the administration of former President Alvaro Uribe declared the modernization of Reficar of strategic importance to the country. It was agreed that Ecopetrol should have as much private sector involvement in the project as possible, so that private investors could assume the risk.
More:
http://colombiareports.com/reficar-colombia-biggest-corruption-scandal-history/
LBN:
http://www.democraticunderground.com/10141438532
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