September 16, 2011     We at ECrisis confess: we do not know everything. But what we do know about the recent midnight deal of stealing and selling other people’s property by Correa and Delgado stinks of president Correa’s hallmark acts of corruption and all-pervading greed.

Led by his completely corrupt Burglar in Chief, Pedro Delgado, Correa stole, among over 200 companies, a sugar refining facility which was profitable, clean and adept at paying taxes and making its employees and customers happy. But little Pedro hates the Isaias family and convinced Correa to scam the non existent rule of law/ lawless Ecuadorean peoples with lies and then steal this sugar plant. And in a no bid opaque sell off to Peru’s GLORIA, the stolen asset- which was illegally seized- is now supposedly sold to GLORIA holdings.  GLORIA just bought something that was not theirs to buy. And to make sure that GLORIA was a ready buyer, Correa gave the sugar facility away: with a $one hundred million price reduction/discount for no reason [chopping off 1/3 of the real value] and demanding only $10 million down on a $330 million facility. Gloria only bought 70% of the sugar facility with Correa-Delgado [aka ` the government’] keeping 30%. Moreover, the 70% loan by GLORIA on the balance is carried by Ecuadoreans, CFN- the government’s financial arm, who should not be involved in this. In other words, the Delgado  shell of an asset which he and Correa  helped to steal is now gifted to a Peruvian company also active in Puerto Rico.

What is inexplicable is why the Peruvians enjoy being seduced to buy in on a stolen asset, justified so they are told, by false claims of owner guilt when indeed the real owners committed no crime whatsoever except to retain some of the worst advisors.

This sale of stolen assets by Correa bears heavy legal objections. But the grand daddy of them all lies with Delgado and Correa for stealing from their own on false grounds, justifying their own greed and then lying about this. To Ms. Cely- ambassador designate to the USA, this sale of stolen assets [a give away really] qualifies as Direct Foreign Investment, not unlike Correa’s other money making scheme: selling fake identities, passports and money laundering for Iran and its clandestine criminal capital. Correa’s DFI is more like reselling stolen American cars in Guayaquil. Or selling Ecuadorean youth to the FARC for its new hybrid heroin farms.  To be sure, this is also akin to Correa’s mentor, Fidel Castro stealing homes in Havana and then trying to sell their art for cash. Fortunately, there are now laws for reselling stolen assets. Correa and Delgado care not….nor does Ms. Cely, who is of course a fool, a mouth organ for corruption. If Ms. Cely is credentialed in the USA as a pimp for pervs and corrupt actors, those who credential her parvenue are more corrupt than she remains.

If one seeks to understand Ecuador today: understand that president Correa is a dishonest and greedy criminal, led by the despicable Delgado.

Our recommendation to reform Correa, Delgado and the rest of his cartel criminals is this: 

                                                        

 -Pedro Camargo for ECrisis