Ecuador Celec-Progen corruption investigation

An investigation by Ecuador’s Financial and Economic Analysis Unit (UAFE) revealed that funds intended for a 2024 energy emergency were diverted to luxury real estate. Specifically, a portion of $104 million paid by the state-owned Corporación Eléctrica del Ecuador (Celec) to the U.S.-based firm Progen Industries LLC was funneled through companies owned by José Walther Manrique Suárez and Karla Saud to purchase high-end property in Samborondón and Guayaquil.

As the Progen case progresses, the Ecuadorian Prosecutor's Office has ordered forensic computer analysis of journalistic reports to be used as digital evidence. These reports include documents and chats related to legal proceedings in Florida involving Progen CEO John Manning and Karla Saud.

During legal developments, Manning testified under oath that his company “never delivered anything” regarding functional generators for the Quevedo and Salitral plants. Manning alleged that the subcontracting agreement with Astrobryxa, led by Saud and Manrique Suárez, was fraudulent. Authorities continue to investigate how over $100 million in advances were paid despite significant delays and doubts regarding the equipment.