MercoPress. South Atlantic News Agency

Most of Pinochet’s 21m USD fortune cannot be legitimately accounted for

The former dictator when he was undisputed master of Chile

A Universidad de Chile investigation has found that of the 21 million US dollars fortune that former Chilean dictator General Augusto Pinochet amassed during his lifetime, 19 million cannot be legitimately accounted for.

The investigation into Gen. Augusto Pinochet finances was ordered in 2007 by the Chilean Supreme Court. Members of his family alongside his collaborators were prosecuted because of his financial indiscretions; however the majority of these prosecutions were revoked in November of the same year. It was decided that an external organization was required to really look into where Pinochet’s money had come from – and in June 2008 the Universidad de Chile was chosen as that organization. Their task was to analyze more than 200 bank accounts were the dictator had stashed his fortune.

Pinochet had bank accounts both in Chile and abroad. Pinochet (whose full name was Augusto Jose Ramon Pinochet Ugarte) also held bank accounts in the names of Daniel Lopez, Augusto P. Ugarte, Ramon Pinochet, and J. Ramon Ugarte. From 1973 to 2003, he received income in his position as Commander in Chief of the Army, as Head of State, as a Senator for life and also from books. All of this combined to just over 1.4 million USD.

One of the areas thoroughly investigated was that of confidential presidential expenses. Confidential expenses refers to money put aside by the government for reasons which are not specified, such as paying for spies, political investigators, and so on. Between 1973 and 2005 Pinochet had an estimated 5.7 million USD worth of confidential expenses at his disposal and only 2.1 million were accounted for publicly.

While a large amount has been traced to other public services as well as Pinochet’s private secretaries, as well as personal expenses, there are 1.5 million USD which are completely unaccounted for.

The investigation will continue, with the final goal of determining the origin of all 19 million USD. “There is a part [of the fortune] which is justified,” said Manuel Valderrama, the judge who is in charge of the case.

“This is everything which he received as a wage for the various positions which he held throughout his life. The rest is under examination in regards to its origins”.

According to Eduardo Contreas, one of the first lawyers who brought a lawsuit against Pinochet, the former head of state was able to hide such a large amount of money thanks to third parties and business societies. In regards to the information which has recently come to light, Contreas told La Tercera that “this report shows that Pinochet was not only a criminal in the area of human rights, but that he was also, in his personal life, a very dishonest person.”

By Alia Alhafny – Santiago Times