Losses of Trust AGD-CFN Keep Increasing

Pedro Delgado

An investigation carried out by newspaper El Comercio reveals that $ 6.5 million is the number of the accumulated losses by the Trust AGD-CFN, agency in charge of businesses; shares and assets seized from banks Filanbanco and Loans. According to the analyst Marco Lopez, this occurs because reclassifications are made in accounts that are not easily identifiable.

The newspaper noted that neither Pedro Delgado nor Camilo Saman, representative of the Trust and head of the National Finance Corporation, wanted to explain what is happening. So Mauricio Pozo, a financial expert, claims the versions of these officials and also a meeting that includes the financial and accountant sector, in order to give reason to these “rare accounts.”

Regarding the losses, in 2010 the bulk was in $ 3.6 million, year in which there are 1.3 million recorded in general expenses and $ 1.2 million for advertising, while in 2011, they appear as “other expenses,” the losses are set at 2.6 million.