Puerto Rico Fiscal Board’s Emails

Through a secret process until now, the U.S. Department of the Treasury evaluated more than 115 people in 2016 to be selected as the first members of the Puerto Rico Fiscal Control Board. Seven years later, the Biden administration faces a new round of appointments to the Board in a process that is no longer led by the Treasury and is just as secretive.

Before a new contract was granted to Cobra Acquisitions, Tribble met with Zamot at the Fiscal Control Board’s office to discuss company-related matters. Executives from Cobra and Filsinger Energy Partners, who serves as an adviser to the Rosselló administration in the PREPA restructuring, also participated.

The world's largest financial consulting firm leads the operations of Puerto Rico’s federally appointed Fiscal Control Board, as evidenced by emails obtained by the Center for Investigative Journalism. McKinsey also owns Puerto Rico bonds and is subject of various investigations, including one commissioned by the entity imposed by the federal PROMESA law.

Republican Senators Jeff Flake of Arizona and Mike Lee of Utah sought to keep secret their interest in the privatization of the Puerto Rico Electric Power Authority (PREPA), a government-owned corporation. Almost a month after Hurricane María destroyed the island’s energy grid, a representative of Sen. Flake began to send emails to Andrew Biggs, a […]

Puerto Rico’s federally appointed Fiscal Board refused to deliver an unspecified number of communications between the entity and officials of Congress, the White House, Treasury and other federal agencies. As part of an access to information lawsuit brought by the Center of Investigative Journalism (CPI) a year and a half ago, the Board alleges that […]

“Started engaging with the creditors yet?,” asked Ted McCann, then adviser to House Speaker Paul Ryan (R-Wisconsin), in a March 21, 2017, email sent to Carlos García, a member of Puerto Rico’s federally appointed Fiscal Control Board. Shortly after, García, a former president of the commonwealth’s Government Development Bank (GDB) and whose appointment to the […]