Galo Chiriboga

$ 59 million are blocked for alleged money laundering

The Attorney General’s Office reported that as a result of research carried out for a few months to three companies, it was achieve a monetary block, to the State, $ 57 million in cash and an additional 2 million in properties. Investigations revealed that the three...

Sucre continues with unusual exports

Following the closure of the cooperative Coopera in Cuenca, for alleged embezzlement, it was also discovered a number of fictitious exports or overvalued companies that worked as a ‘smoke-screen’. The apparent purpose was to receive millions of dollars, mainly from...

Prison for entrepreneurs over money laundering

On last Saturday, at the request of the Prosecutor’s Office, Flagrancy Judge David Lasso issued a preventive prison order for Ecuadorians Germania B., Rosalin M. and Byron E., for the alleged crime of money laundering by the companies Escastel, Prospermundo and Necuaven, in which...

Ecuador seeks a larger use of Sucre

Jeanette Sanchez, Coordinating Minister for Economic Policy, called on member countries of the Bolivarian Alliance for the Peoples of Our America (ALBA) to better coordinate the use of the Regional Clearance Unitary System (Sucre). The request was made yesterday during the VIII...

Sucre is incorporated into the international reserves

The total amount of exports without imports made by Ecuador, through the Regional Clearance Unitary System (SUCRE) is the new item included in the International Book Freely Available (RILD) since December of last year. This decision was carried out by the board of the Central...

BCE exposes Sucre failures

Quite apart from the payment deficit, which this year would reach 2,000 million dollars, the Regional Clearance Unitary System (SUCRE) running from Venezuela has other flaws that concern exporters using this virtual currency. This system allowed Ecuadorian sales to that nation...

The Prosecution is investigating three private banks

The Attorney General advised the Central Bank of Ecuador (BCE) that it’s conducting research for ‘some’ transactions made by the Regional Clearance Unitary System (SUCRE). For being in preliminary investigation stage, so far details are unknown of the number of cases...
sucre_alba_s

Sucre Usage Gains Strength in Latin America

Caracas, The Unitary System of Regional Compensation of Payments (SUCRE for its Spanish acronym) is consolidated as a mechanism for comercial exchanges between the countries of the Bolivarian Alternative for the People of our America (ALBA). Last Tuesday, Eudomar Tovar, president...