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White Collar Criminals? Kirchner added another $ 5 million dollars to his fortune.

Dear compatriots: I am doing well! How about you...?

Dear compatriots: I´m doing well! How about you...? (Foto Archivo La Nación)

The fortune of the Kirchner´s is constantly increasing, year by year, specially since their arrival to power in Argentina.  There is much controversy about this explosive fortune of Mr. Kirchner. During the year 2009, the former President Kirchner (husband of the current President of that country) added another $ 5 million to his fortune . The data comes from his 2009 finantial statement.  The assets of the (nowadays) congressman Néstor Kirchner and his wife, the President, began to grow during the past year: from 46 million pesos to 51.5 million, an increase of $ 5.4 million U.S.dollars (just over 11%) .

Unlike previous years, in 2009 the increase in assets of the Kirchner did not translate into buying property or increased their bank deposits, but, above all in the cancellation of debts worth millions. He could deliver on those commitments because he had revenues of nearly $ 14 million, mostly rental income from his many properties. Mr. Kirchner is a “lucky” guy, his tenants are nearly always big private building contractors working for the government. These tenants are always willing to pay juicy rentals for the properties of  Mr. Kirchner and wife.  

The Kirchner couple went from having debts of $ 19.2 million pesos in 2008 to 5.9 million pesos in 2009. The net worth of the Kirchner´s fortune increases every year. The net worth is the sum of assets  and subtracting the debts. Among the most important commitments that were  canceled are the debts originated in the construction of the hotel Los Sauces ($ 8,329,596) and that recorded with the Bank of Santa Cruz ($ 8,834,369), owned by Grupo Eskenazi.

The data come from the estate affidavit that the former president just introduced in the House of Representatives, due to the start of his term as a legislator, in December last year.

In the final declaration of assets made by the President before the Anticorruption Office (OA), for 2008, revealed that in that year the assets of the marriage had been an increase of more than $ 28 million pesos, implying an increase from 158 percent.

The controversy over the news, which included opening a court case, closed a few months later, was revived last month when it emerged that the former president had bought $ 2 million dollars just before an appreciation of the dollar (inside trading?).