On 6 July, OCCRP reported that pension fund administrators in Latin America have used hundreds of millions of dollars in worker savings to finance dubious private companies and buy government debt, a new cross-border investigation has revealed. The investigation revealed that workers from 9 Latin American countries have saved around $500 billion for their pensions but that they have no idea how and where their money was invested. In some cases the money ended up in questionable companies that violated local regulations concerning the environment or worker’s safety.
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