Duzac negotiates to recover the money of COFIEC loan

Julia Plaza Rada

The Argentinean Gaston Duzac has until March to payback the loan given by COFIEC for USD 800,000 plus interests, that the financial entity borrowed him on December 2011.

However, Julio Plaza Rada, the Argentinean businessman attorney spoke of the possibility of not paying the loan on time, which was determined by the twenty-fourth Civil court, on November 7, 2012. That changed a week ago, when delegates of the firm Scanbuy, the company that received the loan of Duzac met for a dialogue. “It’s a tough fight,” said Plaza, although he expects to know something about the conversations in Argentina by mid-February.

It all depends on the Argentinean Juan Hussey so that Duzac fulfills its obligation, since he’s the owner of the company Scanbuy and whose account received the deposit of $ 800,000 loan. The amount was supposed to be used to finance a project of mobile money.

The credit that Duzac received by COFIEC bank was made illegally. Recently several emails were published by the media, which have reported that senior regime officials knew Duzac, including the former President of Banco Central del Ecuador, Pedro Delgado, whose cousin Francisco Endara pushed for the credit and is now a fugitive from justice. Following this dubious transaction, Maria Fernanda Luzuriaga, COFIEC’s former representative, made a claim against Duzac on August 2012.

Three months after the demand of Luzuriaga, in November 7, Julio Plaza Rada and Hugo Endara, President of COFIEC, reached a settlement agreement, which was recorded in front of Fabricio Segovia, the official in charge of the twenty-fourth of the Civil Court of Pichincha in which the condition for the payment was set in 120 days. However, so far Plaza Rada has only deposited USD 90,000 as an advance. Its important to point out, that in the case that Duzac cancels the credit, it does not excuse those involved in the felony committed.