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    Chile's President Michelle Bachelet listens to Guatemala's President Otto Perez Molina during their joint press conference at the National Palace in Guatemala City, Friday, Jan. 30, 2015

    Chilean President’s Son Quits Government Amid Loan Scandal

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    The son of Chilean President Michelle Bachelet resigned on Friday amid allegations that he used his influence during a meeting between his wife and a Banco de Chile employee that ended with the woman getting $10 million loan.

    MOSCOW (Sputnik) — The son of Chilean President Michelle Bachelet resigned as head of a government charity after he was accused of using his political connections to get a large bank loan for his wife.

    Sebastian Davalos resigned on Friday amid allegations that he used his influence during a meeting between his wife and a Banco de Chile employee that ended with the woman getting $10 million loan, local media reported.

    A company run by Davalos’ wife used the money to buy plots of land and then sell them at a large profit, opposition politicians claimed.

    Opposition politicians called on Davalos to reveal full details of his property and income.

    The loan was granted in December 2013, one day after Michelle Bachelet won a second term as president.


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