Cesar Montufar Said that Delgado is Responsible for COFIEC’s Irregularities

Cesar Montufar

“All the responsibility falls on Delgado,” stated Cesar Montufar, legislator of Concertacion, after investigating and denouncing the irregularities of COFIEC bank.

The assembly member pointed out that the general management of COFIEC shows a series of irregularities that must be handled with administrative responsibilities, both civil and criminal. Additionally he added, that it’s not the responsibility of the lower executives, but of the board and the legal representative of the trust, Pedro Delgado.

Regarding the lawsuit that Delgado presented last Monday; Montufar said, that such action seeks to take off  the responsibility  from the managers and himself. “Denouncing doesn’t necessarily mean transparency,” said Montufar. According to the assembly member of Concertacion, one of the most serious irregularities are the financial relations between Ecuador and Iran, he noted that Pedro Solines, Bank Superintendent, didn’t say anything about it.

Montufar explained that the transaction carried out by the Iranian Embassy is  serious, because COFIEC was one of the Banks selected during the agreement between Mahmoud Ahmadinejad and Rafael Correa to speed up the financial relations. Subsequently, COFIEC was almost sold to an Iranian bank which was later sanctioned. Finally, Duzac reappears in the report of Delgado’s visit to Iran, something that is not very casual. AV

Montufar explained that the transaction carried out by the Iranian Embassy is  serious, because COFIEC was one of the Banks selected during the agreement between Mahmoud Ahmadinejad and Rafael Correa to speed up the financial relations. Subsequently, COFIEC was almost sold to an Iranian bank which was later sanctioned. Finally, Duzac reappears in the report of Delgado’s visit to Iran, something that is not very casual. AV