![]() ![]() News broke May last of an embezzlement scandal at Colombia’s main oil refinery with reports of $4 billion missing and a $16 million prostitute bill. ![]() The extra cost is the equivalent of 1.5 times the cost of the widening of the Panama canal and is more than the estimated cost of building Bogota’s entire metro system. The investigation will seek to determine whether double and even triple payments were made by the refinery during the upgrading project which was meant to cost $3.3 billion, but had a final price tag of more than $8 billion. Comptroller General Edgardo Maya declared that several contracts that exceeded USD $1 billion for the modernization of and expansion of the Cartagena Refinery will be investigated as well as the financial statements relating to the project. ![]()
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