Published On: Mon, Aug 21st, 2017

Shady practices at Educational Loan Foundation (SSC)

Margit-de-Freitas-SSCWILLEMSTAD - Curaçao Educational Loan Foundation (SSC) has a large number of bank accounts, with various banks, in various currencies, and in various countries.

This has emerged during the substantive hearing of the case filed by the suspended director Margit de Freitas against the SSC. According to the SSC lawyer, Achim Henriquez, as far as information is available, there is a total of twenty bank accounts.

Although this fact alone is not strange, Henriquez also reports at least two bank accounts that are shady for the financial administration of the SSC. For example, there would be a bank account in the United States at the HSBC Bank where only De Freitas has access. Both the head of Financial Administration and the Financial Manager of the Foundation appear to have no access, the lawyer reports.

Henriquez also stated that that the SSC received, from time to time, bank statements from De Freitas. This would give the SSC insight into transactions made from and to that bank account.

“Without password and other login information, however, the token is unusable,” the counselor notes. “The Freitas has refused to provide that information and believes that she will handle these personally.”

The other dark bank account, as suggested by the SSC’s legal counselor during his plea, is at the Giro Bank in Curaçao. The existence of this bank account was even unknown for the financial manager of the SSC. The Head of the Financial Administration accidentally discovered this account when an amount of 850,000 guilders was transferred from another SSC bank account to this new account.

De Freitas is the only one who knew about this bank account and is the only one that has received or receives bank statements. It is unclear for the financial administration what is happening on that new account.

De Freitas was suspended by the Minister of Education, Marilyn Alcala-Wallé.

Photo: Margiet de Freitas (archive)

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