Ecuadorian President Says ‘German Money Transfer’ Went to Belgium Bank

ElComercio.com reports that in Vilcabamba Thursday June 23rd, President Rafael Correa stated that a transfer of USD 300,000 did take place, however the money was not paid to the Germany, rather to a Belgium bank. Correa released documents that confirmed the transfer of funds to Pacific Bank this past 9th of August 2010. Correa says that the money was used to purchase an apartment in the hometown of is wife. The president went further stating that the funds came from a case that was won by Banco Pichincha. During the presidents’ statement, he voiced his anger for media attacks and the attacks by opponents. Assemblyman George Scale of the MPD party asked the president to show his transactions to the public. Foreign Minister Ricardo Patino criticized the investigation of the presidents’ transactions. The Internal Revenue Service issued a report on the president current assets and the taxes on transactions abroad.Read Article