Comptroller Orders to Check Piñera’s Blind Trust

President Sebastián Piñera's blind trust to be reviewed

SANTIAGO – The state institution ordered the financial markets regulator and three asset management entities to review President Sebastián Piñera’s blind trust. An investigation had revealed a possible conflict of interest with casino chain Enjoy. The chain has struggled since 2017 but was the sole benefactor of a government decree.

President Sebastián Piñera’s business interests have come under scrutiny after an investigation revealed the head of state’s actions allegedly favored casino chain Enjoy. The company has struggled financially since 2017. On Mar. 25 the comptroller instructed financial markets regulator CMF and three wealth management funds to verify if conflicts of interest exist.

The comptroller’s decision came after a lower house enquiry into Enjoy’s solvency issues found a conflict of interest. Asset managers BTG Pactual and Moneda Asset – which also manage Piñera’s wealth – had active and passive investments in Enjoy.

Piñera’s Response

In a press release, the government said on Mar. 25 that Piñera appreciates the institution’s actions “because it is the best to clarify any doubt, deny false information and ratify the president’s permanent commitment to Law 20.880, about probity in public function and the prevention of conflicts of interest.”

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