Pedro Delgado the Dark Character of the Revolution

When Pedro Delgado took over as president of the Board of the Central Bank of Ecuador and the financial institution the trusteeship AGD-CFN No more impunity (Ugedep), he broke the law, because he did not have an economist degree.

Pedro Delgado

According to Article 69 of the Law of Monetary Regime and State Bank, in order to be General Manager, a person needs to have a third level university degree in professions related to the role to play. While Article 57 states that board members must meet the same requirements of the Law for the General Managing of the Central Bank of Ecuador.

Upon taking office, Delgado, required by law, filed his declaration of assets and again lied by failing to declare their property in the United States, among these, the disputed house he bought in Miami; the purchase agreement had been signed by his wife the day before submitting the statement of its assets. Delgado’s wife is Maria Veronica Endara Clavijo. Vice Consul of Ecuador in Miami.

During his work as Director of the Central Bank of Ecuador and the trusteeship Ugedep, Delgado never clarified the proposal made to sell COFIEC bank -owned by the State- to an Iranian bank. However, he later added that the Government was seeking to facilitate legitimate business with Iran.

Delgado travelled to Iran with a delegation, which was later joined by the famous Gaston Duzac, whom the bank COFIEC granted “gracefully” an irregular credit of $ 800 thousand dollars, the amount has not being paid yet. One of the guarantees presented by Duzac, was the company Las Mercedes, seized by the State from  the Isaias brothers in August 2008. The Company  was under the administration of the Trust managed by Delgado. This fact alone is a crime of embezzlement, as Delgado broke the law by allowing a natural person, use it as collateral to its credit.

Francisco Endara

Delgado never clarified the involvement of his brother-in-law, Francisco Endara Clavijo in the granting of the credit to Duzac. Endara worked with Delgado as coordinator of the Technical Secretariat of the Trust AGD-CFN No more impunity. When it came to light the interference of Endara on the credit of Duzac, he left the country on October 7, his whereabouts are still unknown.

Delgado, was called to testify in a trial in Miami by the Isaias and in his statements to various media, he gave different versions about the financing of the home he purchased in Miami. There are serious doubts about a cash payment of $ 200,000 made by Delgado, which coincides with the date that COFIEC state bank gave $ 800,000 to the Duzac.

Delgado has not responded for the bankruptcy of several companies seized to the Isaias family, and has never been held accountable for its administration and finally one of them -the Hacienda El Rosario, in Machachi- was used for a food fair, in which he participated in a bullfight. The party ended  for Delgado when he was gored by a calf falling to the ground and broke his left foot.

Janeth Hinostroza

All these facts were reported by the independent press in Ecuador, El Universo, El Comercio, Hoy, also TV channels like Teleamazonas and Ecuavisa. The journalist Janeth Hinostroza received death threats and had to retire from Teleamazonas news station while President Correa defended his cousin to the best of his capabilities, attacking the independent press qualifying it as corrupt.

Correa did not hesitate to organize a tribute of “relief” that the government carried out for his cousin Pedro Delgado, also attended the Assembly President Fernando Cordero and the assembly of Alianza País. The Attorney General Galo Chiriboga, the General Comptroller Carlos Polit, officials required by law to monitor corruption. No wonder, then, that Delgado has showed his impunity protected by the highest authorities of the executive, legislative, judicial and regulatory agencies.

Finally the economic and oil analyst Fernando Villavicencio, in an interview with Hoy newspaper announced in his book: Ecuador made in China, un which he denounced the créditos with that country and the damage to the Ecuadorian state. He states that he will discover the “immense fortune” of Pedro Delgado obtained as a commissionist on oil transactions carried out by the national government. These are reasons enough to qualify PEDRO DELGADO AS A DARK CHARACTER OF THE REVOLUCION CIUDADANA.