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US$1.6
Million Diverted
London reinsurance firm PWS
International disclosed the
existence of a discretionary
fund which handled us$1.6 million
in six years, allegedly for the
training and travel expenses of
officials from the Costa Rican
state National Insurance
Institute (INS) - the national
insurance company.
According to PWS director for
America Adam Bragg, the fund was
established on request from
Alvaro Acuña, former INS
Reinsurance Department boss.
However, there is no trace of
the spending or the destination
of those funds, current INS
president Luis Javier Guier
explained.
The General
Prosecutor's Office has launched
an investigation of this new
corruption case in Costa Rican
state institutions.
PWS is an independent specialist
reinsurance broker - one of the
leaders in the world, who have
achieved their position by
virtue of a totally client
focused and service-driven
approach.
PWS has clients in over 100
countries and is placed with
reinsurers located around the
world, servicing the business
headquarters in London and
through an expanding network of
worldwide group offices and
representative firms.
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