Entity claims Jaresko appropriated tax-payer funds

The Hispanic Leadership Fund (HLF) requested Congress for the current Executive Director of the Puerto Rico Oversight Board established by PROMESA (JCF by its Spanish initials), Natalie Jaresko, to be replaced.

According to HLF, the work of the Board ‘has ignored the basic precepts set forth in PROMESA: accuracy, transparency, and the creation of a credible plan for a return to capital markets for the Puerto Rican people’.

‘Ms. Jaresko has refused to define–and has restricted the local government from defining– exactly what constitutes ‘essential services,’ which is the most basic compliance requirement for a Fiscal Plan under PROMESA’, reads the letter.

Furthermore, the document also criticizes the ‘rushed deadlines’ set forth for the fiscal plans of the government agencies, even though these claimed that the given time was not enough to collect the data necessary for their development.

‘When asked about the financial workings of Puerto Rico by Congressman Luis V. Gutierrez in November of last year, she showed a disturbing lack of knowledge about the inner workings of the economy she is paid so much to fix’, they continue.

Likewise, HLF reveals that during her tenure in 2013 with the Western NIS Enterprise Fund, Jaresko collected around $1.77 million in bonuses, even though her salary had been capped at $150,000, by taking advantage of a loophole. The money she received were funds collected by the United States tax payers.

‘With nearly 20 percentii of the island still in darkness, it is time for Congress to ask tough questions about Ms. Jaresko’s mismanagement and inaction’, reads in the letter.

You can read the document here: