Guillermo Lasso’s son bought a luxurious yacht with a ghost company

Scandals haunt the president of Ecuador, Guillermo Lasso. After its appearance in the Pandora Papers as a result of its links with a series of offshore accounts, different documents obtained by the digital newspaper Public they point out that one of his sons bought a luxurious yacht in the United States through a ghost company.

The documentation gathered by the Spanish media indicates that on February 26, the corporate group “You YouCorp SA” the shipment to Guayaquil of the yacht Dolce, whose value amounted to 560 thousand dollars. As a representative of You YouCorp he acted Juan Emilio Lasso Alcivar, son of the Ecuadorian president.

At that time, Guillermo Lasso was in full electoral activity. The right-wing politician and banker had disputed the first round of the presidential elections three weeks before, in which he managed to narrowly overcome the indigenous candidate Yaku Pérez and was placed in second place behind the correista Andrés Arauz, with whom he would contest the presidential seat. in the April 11 elections. Lasso managed to prevail in that second round.

On the way to Guayaquil

While his father was on his way to glory, Juan Emilio Lasso continued to lead the purchase of the Dolce yacht, which would be transported from the US port of Everglades to the maritime terminal of Guayaquil. The boat arrived in Ecuador on March 11, with a little less than a month to go before the second round of elections in that Latin American country. The cost of insurance and freight reached $ 55,490.

According to public data from the Internal Revenue Service of Ecuador, the You YouCorp company has not made any tax payments on foreign currency outflows since 2013, while in concept of income tax, which is applied on the obtained gains, only appears 337.90 dollars paid in 2016.

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In turn, the financial situation report of said company for 2020 indicates that during the past year it did not register income, while it accumulated losses for an amount of $ 14,438. Its corporate purpose is “to act as a holding company, as a partner or shareholder in other companies”.

The shareholders of that company include, in addition to Juan Emilio Lasso Alcívar (who appears in the documents as general manager), three other children of the president of Ecuador: María de Lourdes Lasso Alcívar, María Mercedes Lasso Alcívar and Santiago Xavier Lasso Alcívar.

According to the extensive work carried out by the International Consortium of Investigative Journalists (ICIJ), Guillermo Lasso is behind a network of up to 14 opaque financial companies, most based in Panama. According to the Pandora Papers, Lasso closed that network after President Rafael Correa approved a law in 2017 that prohibited presidential candidates from having companies in tax havens. The banker did not want to go to the parliamentary commission that investigates him, which caused widespread discomfort in the opposition.

* From Public from Spain. Special for Page12

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