Former AFIP Accountant Details Fund Irregularities in Argentina's 'Cuadernos' Trial

A former accountant from Argentina's tax agency, AFIP, provided testimony in the "Cuadernos" (Notebooks) corruption trial, detailing alleged irregularities in how companies managed funds received for public works contracts. Diana Guterman, who previously headed the financial investigation unit at AFIP, reviewed financial reports and presented findings to the court.

Guterman's testimony focused on specific companies, including Servicios Vertúa S.A., involved in the construction of the Northeast Argentine Gas Pipeline. Between 2014 and 2015, this company reportedly received approximately $565 million from ENARSA. According to Guterman's report, a portion of these funds was allegedly used to purchase public bonds, which were then sold abroad through "contado con liquidación" operations. The resulting U.S. dollars were allegedly deposited into bank accounts and subsequently withdrawn in cash.

“

We defined that we would circularize the banking entities that had operated with certain companies.

Another case highlighted involved Fainser, a company formerly led by Juan Carlos Lascurain, ex-head of the Argentine Industrial Union (UIA). Fainser had secured a contract worth nearly $500 million with the Municipality of Río Turbio in 2015 for work related to Yacimientos Carboníferos Río Turbio. Guterman's report indicated that the company received advance payments totaling $50 million by late 2015. However, she noted that these tasks were outside the firm's usual business activities, and by September 2017, the project had not yet commenced.

Guterman explained that her work involved requesting information from banks regarding companies' financial operations. This information was then cross-referenced with AFIP databases. The defense teams countered that these fiscalizations were internal and conducted without requesting new information from the companies, thus denying them an opportunity to explain the financial movements. The testimony has fueled debate regarding the scope of accounting measures and the companies' right to defense.

“

We did a trace in the AFIP databases of which were the entities with which it had operated.