The information was taken from the Register of Property, Real State and Mortgages of the National Registry Center of El Salvador. There, the public documents relating to the properties with which Albapes has had a relationship as a mortgaging entity, a confiscations company or an owner were examined.
Alba Petróleos from El Salvador (Albapes) has been at the center of 107 real estate transactions that have yielded millions in losses to the company, a partnership between the state oil company Petróleos de Venezuela and Enepasa, an association of mayors of the Salvadoran Farabundo Marti National Liberation Party ( FMLN). Albapes in the majority of cases granted third parties mortgage loans for the purchase of real estate that suddenly changed price in short periods or whose values were overestimated or underestimated for the seizures or dations in payment for breach of the financing obligations. One of the most notable examples is related to a company linked to José Luis Merino, leader of the FMLN and adviser of Albapes.
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