Myths and truths: PPK in his maze of answers

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In his explanation of the supposed links with Odebrecht, Pedro Pablo Kuczynski appealed to statements that leave unresolved questions. globeeconomy analyzes them

President Pedro Pablo Kuczynski (PPK) appealed to statements that leave unresolved questions in his explanation of alleged links with Odebrecht.

I have declared not having any relationship as a partner or executive [of the First Capital company]. ” Average truth

Indeed, the president has repeatedly denied being a partner or executive of the firm First Capital Partners, which would have received payments from Odebrecht for US $ 4’043,941 between 2005 and 2013. And, at least so far, There is no reliable information to prove otherwise.

However, membership is not an essential requirement to receive income linked to Odebrecht projects. President Pedro Pablo Kuczynski himself informed just a few days ago about a financial advisory he made in 2012 as part of the financial structuring of the H2Olmos irrigation project, in charge of the Brazilian company. Palacio sources explained that this advice was provided through First Capital Partners.

After the announcement of the agent chief executive and the delivery of information of Odebrecht, the questions no longer revolved -like at some point- about whether he was an official of First Capital Partners or not. The questions are now linked to whether PPK received part of the little more than US $ 4 million delivered by Odebrecht to the financial advisory firm of Chilean businessman Gerardo Sepúlveda between 2005 and 2013.

On Thursday, Kuczynski showed the bill presented to First Capital Partners for the advice related to H2Olmos. But it denied, without attaching in this case specific documents, that it was linked to the rest of the transactions reported by Odebrecht before the Lava Jato Commission.

“I was never in charge of the management or administration of Westfield when I held a public position.” False
Unlike the previous point, President Pedro Pablo Kuczynski indicated that he is the owner of the company Westfield Capital. The firm received seven payments from Odebrecht between November 2004 and December 2007, for advisory and reimbursement of expenses, for a total of US $ 782,207.

Although the head of the State – minister between February 2004 and July 2006 – indicates that during that time he left the management of his company in charge, documents from the public records of the state of Florida (United States) suggest otherwise. According to the documentation compiled by El Comercio, between 2004 and 2007 Pedro Pablo Kuczynski continued to appear as a manager of Westfield Capital before US entities.

“Not being in charge of the management or administration of the firm, in addition, does not reject that the resources paid by Odebrecht have entered the accounts of PPK. He has to show that the money did not reach him or that he returned it, “says criminal lawyer Luis Vargas Valdivia.

If it is verified that the money paid by Odebrecht to Westfield Capital between 2004 and 2007 reached the current president, he could be accused of violating article 126 of the Constitution.

According to the Magna Carta, acting ministers can not manage “own interests or those of third parties”. Nor can they engage in lucrative activities “or intervene in the management or management of companies or private associations.”

“The payments from Odebrecht to Westfield correspond to contracts signed by Mr. Sepúlveda, not me.” Average truth

To complement his defense related to the advisory services of Westfield Capital, Kuczynski maintained that the agreements to provide services to Odebrecht were not signed by him. His partner, Gerardo Sepúlveda, would be the one who signed the contracts, according to the documents referred to by PPK on Thursday.

“But even that scenario would be insufficient to invalidate the existence of alleged links between your company and Odebrecht. It is not enough to say that he did not sign, “says Vargas Valdivia.

This is because the alleged firms of Sepulveda would have been given the name of Westfield Capital, company of Pedro Pablo Kuczynski, and not in a personal capacity. In that case, the payments for services provided to Odebrecht would have entered the finances of Westfield Capital and not the personal accounts of Sepúlveda.

On the other hand, after consulting with Odebrecht, Westfield Capital transferred money to the personal account of the current president of the Republic, information not yet explained by who was Minister of Economy and Prime Minister of the government of Alejandro Toledo.

According to a banking report accessed by this newspaper, on December 7, 2007 – just over a year after PPK left the civil service as a minister – Westfield Capital transferred US $ 380,047 to the personal account of Pedro Pablo Kuczynski in the Bank of Credit of Peru (BCP).

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