The U.S. Federal Bureau of Investigation is probing potential corruption and favoritism in how Puerto Rico awarded some government contracts and arrests may be forthcoming, according to the bureau’s special agent in charge on the island, Douglas Leff, Bloomberg News reported.
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Puerto Rico Governor Ricardo Rosselló asked for the immediate resignation of Treasury Secretary Raul Maldonado just hours after the cabinet member disclosed a federal corruption investigation into his own department, Bloomberg News reported. Rosselló said yesterday that he’d never been informed of the “serious irregularities” that Maldonado made public.
Puerto Rico’s federally created financial oversight board asked a federal appeals court yesterday to extend a July 15 deadline for its members to be confirmed by the U.S. Senate, citing concerns that missing it could harm an ongoing restructuring of the bankrupt U.S. commonwealth’s debt, Reuters reported. The action followed an announcement by a U.S.
Puerto Rico’s federally created financial oversight board on Monday defended a new agreement with creditors, saying it will result in an affordable and sustainable debt level and allow the U.S. commonwealth to exit bankruptcy next year, WSJ Pro Bankruptcy reported.
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The Financial Oversight and Management Board for Puerto Rico was created under the Puerto Rico Oversight, Management and Economic Stability Act of 2016. The Board consists of seven members appointed by the President of the United States and one ex officio member designated by the Governor of Puerto Rico. Access information on the Board, documents, videos of meetings, calendar of events and live webcasts by clicking here.