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This afternoon, the Office of the Comptroller General of the Republic notified both the Financial Market Commission and BTG Pactual, Moneda Asset and Altis, to request information regarding the blind trusts of President Sebastián Piñera that these three management companies administer.
This, after the controversy raised by Decree 77 of the Ministry of Finance, signed on January 28, 2021 by President Piñera and Minister Rodrigo Cerda, and which the Comptroller’s Office was right in February. This decree extended the extension of the execution of casino works, “only once and for well-founded reasons, for a period that does not exceed 6 months, in the case of the fulfillment of the works to start the operation of the gambling casino itself, and for the same period for the fulfillment of the other works or facilities included in the comprehensive project. The extension extended the timelines of several Enjoy projects and one Sun Dreams project.
Comptroller’s Office, in the exercise of its functions, decided to send the official letters after an investigative commission of the Chamber of Deputies focused on the insolvency of the Enjoy group accused the existence of a conflict of interest, since BTG Pactual and Moneda Asset – two of the Three entities that manage President Piñera’s money – have investments in Enjoy shares and liabilities.
According to sources familiar with the inspection action, the letter to the CMF requested three things. First, information regarding the approval of exceptional communications between President Piñera and / or Bancard and the investment funds, that is, their agents. Second, the annual report where you account for the investments, that is, profits and losses. And third, any other information associated with the topic.
While the letters addressed to BTG Pactual, Moneda Asset and Altis request information regarding the general instructions of the initial mandate and its modifications; if they have sent or received exceptional or special communications with President Piñera and / or Bancard; and the annual accounts of its investment funds.
Consulted by La Tercera, from the comptroller entity they affirmed that “the Comptroller General of the Republic informs that, in the exercise of the legal powers conferred on it by the second paragraph of Article 47 of Law No. 20,880, on the probity of the public function and prevention of conflicts of interest, has officiated at the Financial Market Commission and three investment fund managers, in order to oversee compliance with the rules that regulate the special mandate of securities portfolio management (blind trust) ”.
