Pedro Delgado Defense denies being paid with state funds

Pedro Delgado

Juan Carlos Carmigniani, lawyer Pedro Delgado, former president of the Central Bank of Ecuador (BCE) and cousin of the Ecuadorian president, Rafael Correa, denied yesterday that his firm receives payment from the seized insurance company Seguros Rocafuerte due to an account policy offered to those hired by AGD-CFN Trust No More Impunity, in June 2010.

The statement was made after the Attorney General’s announcement, Galo Chiriboga, who recently began an inquiry to investigate whether Delgado’s attorneys are being paid with such policy that was bought with funds from the trusts to cover up to $ 5 million of the defense expenses to several members of the Management Unit of that Trust.

Prior to entering the Judicial Council, Chiriboga said last Tuesday that he has already received the report of the Superintendent of Banks to confirm or dismiss if the state is covering the costs of defending Delgado. “I’ll check it after the Council meeting,” said the prosecutor.

While Carmigniani, said that the policy exists, adding that it’s goal was just to cover expenses of the Trust officials. He said Delgado was paying the defense with private money.