Antonio Buñay , former executive chief of Cofiec Bank – a state owned bank- and the alleged responsible person for the Cofiec case, which is causing stir in the Ecuador legal system and among citizens, appeared before the prosecutor's office on October 16, 2012. The #CofiecCase  [es], as Ecuadorian Twitter users have named it, was uncovered after irregularities were found in a Cofiec banking loan for US$800,000  granted to the Argentinian investor Gastón Duzac  [es].
The loan given to Duzac on December 2011 expired on August this year. However, the loan was granted although Duzac didn't meet [es] the respective requirements. As a result of this failure to comply with the Ecuadorian State, some civil servants, who authorized the loan, are being investigated .
Cofiec  [es] (Ecuadorian Financial Corporation) was founded in the 70s by Antonio Correa Escobar in order to create a financial corporation. In those days, Cofiec Bank had the ability to loan money, as well as the authorization to take part in venture capital. After the Ecuadorian banking crisis  in 1999, Cofiec Bank passed to Banco Progreso's owner, and it was later financed by the State through Ecuador's Deposit Insurance Agency (AGD ), an autonomous entity led by the Ministry of Economy and Finance.
Buñay has been accused of granting the loan to Duzac with warranty in sales of goods belonging to AGD owned companies  [es]. Rumours are surrounding Pedro Delgado  [es], the president of the Central Bank and cousin of the current president of Ecuador, Rafael Correa. Delgado reportedly put pressure on Buñay  [es] to grant the loan to an “alleged group of Argentinian investors” represented by Duzac.
Carolina Martínez (@scaromartinez ) [es] reacts with the following comment:
Monica Mier Vielma (@monicamier ) [es] states:
@monicamier:  Las preguntas que realiza Dalo Bucaram [asambleísta del Partido Roldosista Ecuatoriano  (PRE)] en #CasoCofiec  envidencian que las versiones de PDelgado en CNN y ABuñay en Comisión, se contradicen.
@monicamier:  The questions asked by Dalo Bucaram [assembly member of the Ecuadorian Roldosist Party  (PRE)] in #CofiecCase  make clear that the statements made by Pedro Delgado on CNN and Abuñay in the Commission are contradictory.
Janet Hinostroza (@janethinostroza ) [es] highlights the weakness of Buñay's statements:
@basoledispa  [es] remarks how Buñay avoids to answer:
The external influence for granting the loan is still in doubt, as Edmundo Vera R. (@edverar ) [es] points out:
Fernando Rosero (@FernandoRoseroR ) [es] writes the following:
However, Nataly Morillo (@titamorillo ) [es] put this statement out:
Ecuadorians are struck by the fact that Duzac was given the loan so easily, while Hundreds of farmers have to wait months to be granted credits. Martha Roldós (@martharoldos ) [es] and Galo Lara Y. (@GaloLaraY ) [es] state:
Some Twitter users, like Carlos Vera (@CarlosVerareal ) [es], shared links to recordings obtained through some national newspapers:
Finally, the well-known reporter Janeth Hirostronza (@janethinostroza ) [es] stated:
This case, which is under investigation as of writing this post, will follow its due course in the Assembly's Audit Commission.