WASHINGTON, D.C.–Today the Hispanic Leadership Fund President Mario H. Lopez released a letter to key members of Congress and U.S. Attorney General Jeff Sessions, calling for an investigation into strong indications of conflicts of interest and ethical violations by Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) Oversight Board member Ana Matosantos.
The letter highlights a recent investigation by the National Legal and Policy Center (NLPC), an independent watchdog group, that revealed a series of elaborate economic maneuvers by Oversight Board member Matosantos, who has advocated for the privatization of the Puerto Rican Electric Power Authority (PREPA), specifically the imposing of 60% renewable sources requirement for Puerto Rico’s energy. The NLPC investigation revealed that Ms. Matosantos’ financial interests include a solar energy generation farm run by the Matosantos Commercial Corporation (MCC), where she is a director, and a renewable energy company, Organic Power LLC. These family business interests point to what is likely a conflict of interest and an ethics violation.
This letter comes just a few weeks after an HLF-led coalition of free market organizations called for stronger congressional oversight into the ongoing financial crisis in Puerto Rico and the resignation of Oversight Board Executive Director Natalie Jaresko, expressing concern about her past leadership of the regional taxpayer-funded investment fund called Western NIS Enterprise Fund (WNISEF), during which she collected $1.77 million in bonuses, despite being limited to a compensation of $150,000.
“HLF supports the NLPC’s call for an ethics investigation into Ms. Matosantos’ violations of federal conflict of interest statutes. With much of the island still in darkness and recovering from the devastating hurricanes last fall, the people of Puerto Rico do not have time to deal with bureaucrats that make decisions based on their own financial gain,” said Lopez.
“We believe that Ms. Matosantos must respond to the current unanswered questions about her ability to make unbiased decisions that will benefit the people of Puerto Rico instead of lining her pockets with taxpayer money,” the letter acknowledges. “The conflicts of interest with Ms. Matosantos and the powers awarded to, and actions taken, by the Oversight Board warrant a Congressional investigation.”
“It is time for serious change before the Oversight Board does more damage to Puerto Rico’s chances for a more prosperous future,” concluded Lopez.
The text of the letter can be accessed here.
