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News > Argentina

Argentina: President Macri's Father Dies, Family Mourns Passing

  • Franco Macri, was a tycoon in Argentine history with a hand in the country's construction, automotive, aviation, and telecommunications companies.

    Franco Macri, was a tycoon in Argentine history with a hand in the country's construction, automotive, aviation, and telecommunications companies. | Photo: EFE

Published 3 March 2019
Opinion

A quiet ceremony is said to have taken place in a Buenos Aires cemetery, Jardin de Paz, Sunday afternoon with family and friends.

The father of Argentine President Mauricio Macri and one of the country’s most powerful tycoons, Franco Macri, died Saturday at the age of 88 in his home in Barrio Parque, local media report

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After suffering for years from various health complications, the Italian-born entrepreneur closed his eyes for the last time. A quiet ceremony is said to have taken place in a Buenos Aires cemetery, Jardin de Paz, Sunday afternoon with some family and friends.

As an 18-year-old Italian immigrant, Macri traveled to Argentina in 1948 to work as an engineer assistant before moving on to open his own corporations. Business ventures in construction, automotive industry, air transportation, and telecommunications, among others in Argentina and the U.S., made Macri the richest man in Argentina, worth US$730 million, according to Forbes magazine.

However, both Macri and his son, Gianfranco Macri, have been implicated in a network of alleged bribes tied to both the economic and political spheres and are under investigation. Though the former tycoon was excused from attending a court hearing in December, due to health reasons, the president’s brother did appear and presented a letter, officially refusing to answer the prosecutor’s inquiries.

The pair allegedly participated in the broad corruption network that involved politicians and businessmen during the two presidential administrations (2007-2015), which followed that of Nestor Kirchner (2003-2007).

The case is based on vague evidence published in an exposé by Argentine newspaper La Nacion, which published photocopies of eight notebooks belonging to Oscar Centeno, the driver of Julio de Vido, federal planning and public investment minister between 2003 and 2015, during the Kirchner and Fernandez administrations.

According to the newspaper, the driver kept records of alleged bags of money that business executives gave to the Kirchner administration. Former Argentine President and Senator Cristina Fernandez de Kirchner, who has also been implicated in the case, has repeatedly denied the claims of corruption.

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