Companies with ties to two CABEI consultants won contracts worth more than $1.6 million to advise the bank on its relationship with South Korea.
Key Findings
- In 2020 and 2021, CABEI hired three contractors for more than $1.6 million to provide advice on the bank’s relationship with South Korea.
- All three were linked to two consultants who were working at CABEI — including the advisor to the bank’s president on South Korean issues. Experts said the situation may have violated CABEI’s rules.
- CABEI also spent millions of dollars procuring PCR tests from South Korea that were missing key parts, losing time during the early days of the COVID-19 pandemic.
- An internal audit found the bank’s executive president, Dante Mossi, committed “ethical breaches” in the purchase.
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