A recommendation to transfer the resources of Union Employees from Central Bank to another bank entity led to the discovery of a defalcation by an administrative employee of the union.
Heiner Ugalde, legal adviser to the agency, confirmed this information and explained the situation was reported to officials since late May via email. The amount stolen was not revealed.
The email pointed the then executive director of the union as responsible for the embezzling. The man had been the director for several years and “cultivated affection and admiration” of members and managers.
The man is now in the hands of judicial authorities. The Bank Audit, on the other hand, is carrying out a detailed investigation.