March 25, 2015 / 3:43 PM / 3 years ago

SQM says uncovers $11 mln in questionable payments linked to ex-CEO

SANTIAGO, March 25 (Reuters) - Chilean fertilizer company SQM, which is caught up in a tax and illicit campaign financing scandal, said on Wednesday it has identified some $11 million in questionable payments from the office of its recently fired chief executive officer.

“We identified to SII (internal revenue service) approximately $11 million in payments that originated from the office of our former CEO during the six-year period from 2009 -2014 that may not meet the requirement to count as tax expenses under the Chilean tax code because of insufficient supporting documentation,” said new CEO Patricio Solminihac.

Invoices relating to those payments had been handed to authorities, he said on a call to investors on Wednesday.

Reporting by Rosalba O'Brien; Editing by Jeffrey Benkoe

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