Chilean President's son resigns from charity amid loan scandal

February 13, 2015 10:54 PM

2 0

SANTIAGO (Reuters) - The son of Chilean President Michelle Bachelet resigned as head of her charitable foundation on Friday and asked for forgiveness for a bank-loan scandal that has tarnished the government's image, though he denied doing anything illegal.

Sebastian Davalos and his wife Natalia Compagnon are accused of using their political connections to get privileged access to a bank loan worth around $10 million to buy land on behalf of a company that Compagnon half owns.

Also read: Saudi's Kingdom Holding Q3 net profit slumps 38.3 pct

Read more

To category page