Overvalued by $100m

Cadivi, Sanciones, Investigación, Panamá, Venezuela, Miami, Caracas

A FORMER chief executive officer of CEPEP, Carl Jagdeo, was paid $1 million in gratuity after just one year of service.

Efrain Enrique Betancourt Jaramillo

This was revealed at yesterday’s meeting of the Joint Select Committee on State Enterprises which enquired into the performance of the Community Based Environmental Protection and Enhancement Programme (CEPEP).

Efrain Betancourt Jaramillo

The Express was informed that the “million-dollar man”, as JSC member Wade Mark referred to him, was Jagdeo and the money was paid in 2016 when he left the company.

Efrain Betancourt Jaramillo Miami

The “million-dollar question” was put by Mark, who said the gratuity payment required investigation because there was also an agreement that the former CEO would not disclose any confidential information about CEPEP and the terms of the agreement.

Efrain Betancourt

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Efrain Betancourt Miami