Peru to lease ex-President Toledo's seized properties

Ex presidente Alejandro Toledo en la cumbre APEC 2016. Foto: ANDINA/Dante Zegarra

Ex presidente Alejandro Toledo en la cumbre APEC 2016. Foto: ANDINA/Dante Zegarra

17:42 | Lima, Aug. 7.

Two properties confiscated from former Peruvian President Alejandro Toledo —within the framework of Odebrecht-related money laundering investigations— will be leased out via public auction, the National Seized Property Program (Pronabi) announced.

The estates in question are a S/10.4 million (about US$3.2 million) home in Lima's upper-class Las Casuarinas area and a S/1.1 million (about US$339,296.7) beach house in northern Tumbes region.

Both properties were allegedly purchased through offshore firm Ecoteva with proceeds of a US$20-million bribe corruption-tainted Odebrecht would have paid Toledo to secure a major infrastructure project.  

Peruvian justice thus issued an 18-month preventive detention warrant in February against Toledo, currently a fugitive from justice believed to be holed up in the United States.

As part of investigations, the Peruvian Prosecutor's Office has seized seven properties —worth S/14 million (about US$4.32 million)— from Toledo and his mother-in-law Eva Fernenbug, founder of Ecoteva. 

The measure follows the recent transfer of another estate confiscated from Toledo, a S/2.7 million (about US$832,819) office, to the National Assembly of Regional Governments (ANGR).

Pronabi head Alfredo Saavedra revealed the program holds a total of 1,323 seized estates valued at S/1.376 billion (about US$424.43 million).

These were confiscated as part of investigations of money laundering, offenses against public administration, organized crime, illegal logging and wildcat mining.   

Leasing of the said estates will be notified shortly, Saavedra affirmed.

Published: 8/7/2017