Chile to review Pinera trusts over possible conflict of interest

Chile's Comptroller's Office on Thursday requested information from the local financial market regulator and private brokerages regarding the blind trusts of President Sebastian Pinera, as part of a probe into a possible conflict of interest. Upon assuming his first government in 2010, Pinera created a series of blind trusts allowing third parties to administer his fortune while avoiding conflicts of interest.


Reuters | Santiago | Updated: 26-03-2021 06:30 IST | Created: 26-03-2021 06:30 IST
Chile to review Pinera trusts over possible conflict of interest
  • Country:
  • Argentina

Chile's Comptroller's Office on Thursday requested information from the local financial market regulator and private brokerages regarding the blind trusts of President Sebastian Pinera, as part of a probe into a possible conflict of interest. The request was made after a congressional committee found that two entities that manage some of Pinera's money have investments in the local Enjoy casino, which was favored by a decree issued by billionaire businessman Pinera in January.

Through a statement, the president's office said it was in favor of the request, calling it "the best way to clarify any doubts, disprove false accusations and ratify the full and permanent compliance by the president" with current law. Upon assuming his first government in 2010, Pinera created a series of blind trusts allowing third parties to administer his fortune while avoiding conflicts of interest.

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