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Corruption: Financial Services Company Linked to President Jovenel Moise Created



The same board of directors that headed President Jovenel Moise's Agritrans S.A. company has established a company called Sofidai, working in agriculture and financial services industry. Sofidai was created in November 2018, at the same time investigative reports found that Agritrans S.A. had engaged in money laundering, misappropriation and embezzlement. Miraculously, Sofidai was approved as a credit union by the Bank of the Republic of Haiti (BRH). The company had no financial history on record while other institutions require decades for approval and benefits.

Senator Youri Latortue (AAA - Artibonite) denounced the arrival of this company called the Agricultural and Industrial Finance and Development Corporation (SOFIDAI). Latortue, who is Chairman of the Senate Ethics and Anti-Corruption Committee, is also seeking explanations as to how the Bank of the Republic of Haiti, under Jean Baden Dubois, can "justify benefits granted to Sofidai to the detriment of other legitimate structure of financing of the Haitian state."

Sofidai has no record of having done business in the financial services before being approved by the BRH. A company like Sofihdes, which was founded in 1980, went through decades of experience in lending and credit before BRH approval.

This is not the first time President Jovenel Moise has tried to establish a company while in office to take advantage of state funds. Senator Latortue announced the current plan in action by President Moise to establish a power company to replace the three private providers in Haiti.

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