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NotiCen PDF file 1997 right arrow Jul

Corruption Scandal Shakes Financial System in El Salvador

LADB Article ID: 55134
Category/Department: El Salvador
Date: 1997-07-24
By: LADB Staff

In early July, Salvadoran authorities uncovered a huge embezzlement scheme in two financial institutions. The scandal, which took some US$22.7 million from hundreds of clients, shook the country's financial system, in part because the culprits include some of the country's wealthiest individuals who held high-level positions in the governing Alianza Republicana Nacionalista (ARENA).

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