Investigated by the United States
Delgado is closely followed by the United States for being the central figure in the Correa government that strengthened the financial and trade relations between Ecuador and Iran, which are the focus of the Ecuadorian foreign policy.
Trying to carry out business with Iran – a country that is subject to international sanctions by the UN because its nuclear plans for alleged war purposes- Pedro Delgado traveled to Tehran on two occasions, in April 2011 and February 2012.
As the president of the Central Bank and Chief of the Commercial Trust No more impunity, which manages seized assets, property of the Isaias family, Pedro Delgado, arrived on April 3 to the Khomeini airport in Tehran, with a delegation which included his brother-in-law Francisco Endara, who was coordinator of the Technical Secretariat of the Trust and now adviser of COFIEC bank. (Currently a fugitive due to the irregular loan granted to DUZAC)
The visit lasted three days. On that first trip, Delgado and Endara tried to sell seized companies to the Iranians. In Tehran they met with representatives of The Iranian Foreign Investment Company (IFC).
COFIEC: an important key
Seven months after his visit to Iran, Delgado intervened to facilitate the deposit of the Iranian Embassy, of USD 1.8 million in cash in COFIEC. On November 15 and 24, 2011, the deposits were made in a savings account of the Iranian Embassy, USD 112,834, 500,000 and 1’360.000. The Embassy informed that all this money was from their budget.
Operations had the support of the highest level
The document ERII/3-3/1026 of November 21, issued by the Embassy of Iran to COFIEC. “Refers to discussions held in previous meetings between you (referred to Antonio Buñay, Cofiec CEO) and Ambassador Majid Salehi, and previously with the highest authorities of Ecuador, among others, the distinguished Pedro Delgado Campana, in which it was agreed the entry of this illegal cash to our accounts (…)”
The deposit of 1.8 million in cash did not meet the legal standards to be reported to the Financial Action Task Force (FATF) nor the Iranian Embassy filled the forms, which by law are required by the banks in Ecuador, when deposits exceed $ 10,000 in order to control money laundering.
Three months later, in February 2012, Delgado made his last journey to Iran, where he and his delegation had meetings with representatives of four banks: Pasargad, Export Development Bank (EDBI), Saman and Parsian, as stated in the memorandum PE-29-12 signed by the holder of Cofiec bank, Gino Caicedo.
With Pasargad, the possibility that COFIEC was partially or totally sold to that financial entity was analyzed. That company entered the international blacklist.
The nexus of Delgado with Iran is been followed by the U.S. authorities, who today are acting under the protection a law promoted by the Senate and signed by Barack Obama, to monitor Iran’s activities in countries such as Ecuador, Venezuela, Bolivia and Nicaragua.