translated from Spanish: No surprise: Eduardo Frei learned of the fraud his brother days before he self-reported

“As a family Frei Larraechea we are very beaten and going through a very difficult moment in the human.” Thus began the statement of former President Eduardo Frei Ruiz-Tagle, before his brother’s self-report to the Public Prosecutor’s Office.
And it is that Francisco Frei Ruiz-Tagle denounced himself – on August 16th – to the High Complexity Unit of the Public Prosecutor’s Office Central of Santiago for a series of illicit financial transactions that he committed in recent years on behalf of the company Inversiones Saturno S.A., which belongs to the former Mandatario and his wife Marta Larraechea. Did Eduardo Frei know about this? The former president told El Mercurio that he had learned 17 days before the irregularities committed by his brother, before he went to the prosecutor’s office, acknowledging that he fraudulently injected resources from Saturno S.A. into Almadena society.
According to the morning, Eduardo Frei’s complaint against the youngest of his brothers states that “at the end of July this year it became aware that there were obligations undertaken by Inversiones Saturno S.A. that were not known neither from the company’s board or shareholders.”
The letter clarifies that from this background a drastic measure was taken: “To revoke the powers that the company had granted to Francisco Javier Frei Ruiz-Tagle, which materialized in board session on July 30, 2019”.
The POI raided Francisco Frei’s offices, seizing 15 computers and 20 boxes containing physical documents linked to the case. Once this material has been analyzed, the research courses of action will be determined to clarify how the former president was defrauded by about $500 million.
In self-reporting, Francisco Frei confessed to having committed fraudulent acts to keep his company running. This consisted of the delivery of personal and confidential information from the former president, as well as the forgery of the signature and adulteration of documents.
Daughter of former president will conduct audit and evaluate legal action against Francisco Frei
The Mercury also revealed that it will be Magdalena María Frei Larraechea, daughter of the former president, who was in charge of reconstructing the financial movements made by his uncle in the Saturn investment society. And if necessary, take legal action against you.
This is how you can read in the reduction to writing of the board of directors of the company Saturn of July 30 of this year, where a new board, chaired by Catalina Frei, also daughter of the ex-manager, was formed and also composed of Domingo Eyzaguirre and Magdalena , who was also appointed general manager.
“The directors decided to commission the new general manager (…) so that it can urgently commission an accounting, legal and tax audit of the company, which will allow to know the true state of social business and verify the way society has been managed in recent years in order to resolve, if the the record so warrants it, the eventual initiation of legal action”, reads in the minutes.

Original source in Spanish