The Controversial Presidency of Carlos Menem: A Timeline of Scandals

Privatization Scams and Corruption

During his presidency, Carlos Menem’s administration was plagued by scandalous privatization deals. Some notable cases include:

• ENTEl, SOMISA, and Aerolíneas Argentinas: These companies were sold at undervalued prices or with excessive gifts to the buyers.
• IBM Scandal (1995-98): Allegations emerged that IBM-Argentina paid $37m in kickbacks and bribes to win a contract with Banco de la Nación, leading to the indictment of several former executives and government officials.

Arms-Sales Deal and Other Controversies

Menem was accused of involvement in an illegal arms-sale deal involving Croatia and Ecuador, which resulted in his arrest in 2001 but he was later set free by his hand-picked Supreme Court. He also faced charges related to his presidency, including obstruction of justice in an investigation into a 1994 bombing of a Jewish community center and smuggling weapons to Ecuador and Croatia.

Sentencing and House Arrest

Menem was sentenced to seven years in prison but remained under house arrest due to his immunity as a Senator.

Other Scandals and Controversies

Some other notable scandals and controversies during Menem’s presidency include:

• Privatization of YPF: The state oil company was sold at an undervalued price.
• Allegations of Corruption involving International Banks: Menem’s administration was also accused of corruption involving international banks such as Credit Suisse, First Boston Corporation, HSBC Bank Argentina, JP Morgan Securities, and Salomon Smith Barney.

Conclusion

Menem’s presidency was marked by numerous scandals and controversies, including allegations of corruption, bribery, and malfeasance in public office.