Audit uncovers $3.5 million damages to University

THE BELEAGUERED Rector of the University of Panama (UP),   Gustavo García de Paredes who until a few months ago looked set to extend his  20-years reign  over the institution and its finances   has promised to  respond  next week  to allegations in  an audit showing  irregularities that  caused  $3.5 million economic damage.

The audit by the Comptroller General’s  office has been  formally presented to the Public Prosecutor’s Office and the Court of Auditors.

The audit found alleged irregularities in the project to “design, construct and equip” the Center for Innovation and Entrepreneurship.

According to the Comptroller’s Office, the audit of the project lasted about six months, which gave time for inspections in the field.

It found, for example, that equipment that was paid for was never delivered.

This program was to be implemented at regional universities. According to the audit, Rector Gustavo García Paredes and eight other people were linked to the project.

When the audit began there were reported “difficulties” in gaining access to information.

It was called for when  the Rector was trying to fire Law Professor Antonio Bernal, who had publicly questioned some of the  financial activities of a university  foundation and a small clique of insiders

García de Paredes told La Prensa that he will make a comment about the allegations next week