Within the framework of the Vialidad case, in which she was convicted of corruption in public works, Cristina Kirchner presented an alternative calculation regarding the amount of forfeiture that she believes should be returned to the State. Her expert witness, accountant José Lucas Gaincerain, estimated that the sum amounts to 42.494 billion pesos (93.7 billion pounds), that is, just 6% of the total 684.990 billion pesos (1.51 trillion pounds) established by the Supreme Court experts.
The difference arises from the method used: while the official experts applied the Consumer Price Index (CPI) from INDEC, Gaincerain used the average passive rate of the Central Bank, arguing that it better reflects the evolution of the financial value of money.
What will happen to the funds and how the process will continue
Federal Oral Court 2 will be responsible for determining which amount will be considered valid. It also received a report from the Prosecutor's Office experts, who prepared four different estimates, with values ranging from 230 billion to 723 billion pesos (507.1 billion to 1.59 trillion pounds).
Once the final amount is determined, the nine convicted in the case, including Cristina Kirchner, will have ten business days to return the money. If they do not do so, the assets in their names will be auctioned off until the sum is covered.
Vialidad: Cristina Kirchner reclama reducir el decomiso al 6%
Gaincerain's calculation includes a criticism of the use of the CPI, pointing out that it doesn't reflect the real profitability of money and could generate "artificial" values. According to his analysis, the funds involved, originally estimated at 646 million pesos (1.42 billion pounds) with 185 million in overpricing (407.8 million pounds), should be updated from the date of the awarding of the works (between 2003 and 2015) using bank rates and not consumer prices.
Prosecutors request measures to protect the forfeiture
Prosecutors Diego Luciani and Sergio Mola requested measures to prevent maneuvers that could hinder the forfeiture, after the Federal Penitentiary Service reported a suspicious attempt by Lázaro Báez's partner to have him sign documents related to properties.
In light of the incident, the prosecutors asked the Court to update all precautionary measures, investigate Claudia Insaurralde's assets since 2016, and strengthen control over the convicted individuals.
Vialidad: Cristina Kirchner reclama reducir el decomiso al 6%
The background of the conviction
Cristina Kirchner was sentenced in 2022 to six years in prison and permanent disqualification from holding public office, for crimes committed during her presidency in the awarding of public works in Santa Cruz. She is serving her sentence under house arrest.
The convicted also include Lázaro Báez, José López, and Nelson Periotti, among other former national and provincial officials.
