Angelo Calcaterra: Is He Involved in a Corruption Case? The Truth Exposed (2023)

Angelo Calcaterra
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Angelo Calcaterra has received allegations of being involved a bribery case. Find out if those allegations are true or not in this review.
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A court order to halt Angelo Calcaterra’s property worth 54 million pesos has been sought by a federal attorney due to his purported involvement in bribery & overcharging in public works projects. 

Freeze Order Threatened Against Ex-IECSA Head Angelo Calcaterra Due to Alleged Corruption.

Angelo Calcaterra was the ex-head of the IECSA construction company. The inquiry is a result of the extensive Odebrecht controversy, in which the Argentine government awarded a multibillion-dollar infrastructure deal to the Brazilian builder Odebrecht & its group to tunnel the Sarmiento train line.

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The national government has every reason to be concerned about Angelo Calcaterra’s legal issues because of his familial ties to President Mauricio Macri, who also happens to be his cousin. 

Franco Macri’s father sold the IECSA company to Calcaterra. Yet as reported by Tiempo Argentino, Angelo Calcaterra decided to dispose of the business to separate himself from the unfolding controversy over its ties to Odebrecht and the purported mouthpiece for Nestor & Cristina Kirchner, Lazaro Baez.

According to Perfil, IECSA won public works agreements from Nestor Kirchner’s government for at least US$1.82 billion. 

According to reports, President Macri disapproves of his cousin’s choice to divest the business.

Prosecutor Franco Picardi is asking for freeze proceedings on further people associated with the incident in besides Angelo Calcaterra. These people involve Jorge Rodriguez, ex-Odebrecht executives, especially discredited ex-transport Secretary Ricardo Jaime, as well as ex-Public Works Secretary Jose Lopez. 

The defense contends that the consortium was given preferential treatment during talks and that the initial agreement was altered. 

They additionally claim that a business named CAESA transferred six billion pesos to consultants that were not rendered by using accounts located abroad.

According to the prosecutor’s investigation, Ricardo Jaime’s frontmen and middlemen registered these fictitious businesses in order to solicit bribes on behalf of the previous public official. 

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Argentinian ‘Notebooks’ Graft Scandal: Prosecutors Interrogate Macri’s Cousin, Angelo Calcaterra

A person familiar with the matter told Reuters, that Argentine investigators interrogated a construction tycoon connected to President Mauricio Macri as a result of a broad inquiry into fraudulent payments allegedly to the previous administration.

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According to the source of information, who spoke on the basis of confidentiality to talk about the ongoing inquiry, authorities in the cabinet of the previous president namely Cristina Fernandez instructed Angelo Calcaterra, the cousin of Macri as well as the previous head of the construction firm Iecsa, to pay money for consideration for construction agreements.

The guy stated that the stress was tremendous. No one could get in touch with Angelo Calcaterra for feedback.

The publications, La Nacion released a copy of a driver’s notebook compared to that administration that describes the way he shipped bribe payments from building firms to government authorities from 2005 to 2015, Angelo Calcaterra is the most recent director who has spoken with attorneys in the ongoing investigation.

Diego Cabot, a reporter, said in La Nacion over the past few days that he received the journals from Oscar Centeno, the driver,’s friend Jorge Bacigalupo. 

According to Bacigalupo, Centeno handed them the notebooks for free in the month of September or October, according to an audio conversation with Cabot that was released on La Nacion’s webpage.

Cabot claimed that he copied the journals and subsequently turned them over to the authorities. Unless authorities took action on the data, he continued, La Nacion made the decision not to make public the news.

Investigating what he terms the criminal conspiracy for collecting money illegally described in the notebooks is attorney Carlos Stornelli. 

According to Stornelli, they “keep a wealth of information that offers a sort of x-ray for the network.”

The press office of Stornelli refused to respond.

According to reports in the local press, at least a dozen previous politicians and executives from businesses have been arbitrarily detained. 

Based on regulatory paperwork, officials for a few of the companies mentioned, notably Electroingenieria SA as well as Albanesi SA, were granted periods of absence.

Following its offices being searched, Techint, which is among the biggest business groups in the nation, stated in an announcement that it had responded to queries from authorities and would keep working. An internal investigation was also expected.

The company’s Ternium unit, which supplies steel for building projects, had a 5.8% decline in share price to 54 cents.

The graft controversy is credit-negative for Argentine firms, according to a rating agency namely Moody’s. It mentioned bribery probes that resulted in the detention of important company executives in Argentina.

As a member of the Senate with immunity from arrest, Fernandez, who was previously charged with additional instances of corruption but plans to run for the presidency next year, faces complications as a result of the scandal.

A representative for Fernandez did not elaborate on the present situation, and in previous instances, she has always rejected any misconduct.

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Corrupt Business Figures, Compromised Courts, and the Kirchner

Uncertainty persists regarding the exact scope of Argentina’s latest bribery crisis. But it’s clear that Cristina Fernandez de Kirchner, an ex-president, will certainly feel the effects. 

The apprehension of some businessmen who have accepted their guilt & reached plea agreements with the prosecution and judiciary is concerning. Angelo Calcaterra, the president’s cousin, is one of the prisoners who have been freed. 

Argentina has a rare chance to combat corruption in government construction projects, yet this is going to happen under the direction of a divisive and unethical judge. If the inquiries proceed and everyone guilty is brought to justice, it might signal a substantial departure from the status quo of bribery.

The careful notes made by a driver for Roberto Baratta, the closest confidant of former development minister namely Julio De Vido, that were divulged, revealed the well-kept truth that corruption was rampant in Argentina’s public projects. The Kirchners used these endeavors as a tool to increase their level of income and power in politics. 

The driver, Oscar Centeno, described a Baratta-designed cash-based system of finance whereby large development corporations obtained renewable energy projects by paying bribes. 

It is clear that a sizeable percentage of these monies also wound up in the private safes of the people concerned, despite the fact that it was previously thought that they were largely intended for election campaigns. Argentina’s corruption is astonishingly effective, with everyone involved getting their cut.

This case is distinctive due to Judge Bonadio’s determination to jail several well-known entrepreneurs. 

Targets included businesses founded for laundering money from Kirchnerite fraud, including Electroingenieria, as well as traditionally dubious organizations like the Argentine Chamber of Construction, led by Carlos Wagner.

About Angelo Calceterra

Biodata of Angelo Calcaterra on its official webpage.

Angelo Calcaterra, a prominent person in the construction sector and a man dubbed “the prince of public works,” was born in Argentina in 1958. 

His biological mother, Maria Pia Macri, is Mauricio Macri’s dad and the younger sister of Franco Macri. 

The Sustainable Development Goals Group is led by Angelo Calcaterra, who is also a member of the Macri family’s business network.

He is thus also complicit in the Bibery crime as well as the overcharging of a public asset. To know more about this criminal, you may click on the link: Angelo Calcaterra

Conclusion

The article concludes by highlighting the continuing bribery investigation in Argentina concerning the construction company Odebrecht and its ties to the construction company IECSA, which was originally led by Angelo Calcaterra. 

Because of Angelo Calcaterra’s suspected participation in bribes & overcharging in public works agreements, the federal prosecution has asked for a freezing order on his financial assets. 

As Angelo Calcaterra is the cousin of President Mauricio Macri, the national government is particularly concerned about this scenario. In an effort to separate oneself from the spreading scandal, Calcaterra recently made the decision to sell the IECSA company. 

Additionally, the investigation has asked for freezing orders against other people, notably ex-government employees and officials from Odebrecht. 

The prosecution’s assertion that there constituted dishonest practices and bribery engaged in the consortium’s government-funded construction contracts comes as the article’s conclusion.

Angelo Calcaterra: Is He Involved in a Corruption Case? The Truth Exposed (2023)
Angelo Calcaterra: Is He Involved in a Corruption Case? The Truth Exposed (2023)

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