In 2006, Hushang Ansary, a former Iranian statesman turned US-based oil tycoon, acquired Ennia, a significant pension fund and insurance company in Curacao. His purchase raised eyebrows among long-term employees due to his lack of experience in managing such enterprises, despite his influential stature within American politics and connections to notable conservative figures.
Nearly two decades later, the Central Bank of Curacao and Sint Maarten accuses Ansary of siphoning Ennia’s assets for personal ventures, jeopardizing the financial stability of 30,000 pension holders across Curacao and neighboring islands. Allegations assert Ansary redirected funds for private jet travel, questionable payments to associates, and donations to US conservative causes, leading to a legal battle aiming to reclaim hundreds of millions owed to Ennia.
Amidst the scandal, the International Consortium of Investigative Journalists (ICIJ) scrutinized London-based PwC (formerly PricewaterhouseCoopers), spotlighting its role in establishing offshore shell companies for Ansary. These entities facilitated complex maneuvers that reportedly deprived Ennia of substantial assets.
Ansary, at 96 years old, vehemently denies mismanagement allegations, asserting his efforts aimed to enhance Ennia’s profitability. However, assertions from the Central Bank of Curacao and Sint Maarten portray a conflicting narrative, emphasizing conflicts of interest, improper asset transfers, and substantial financial losses incurred by Ennia.
Leaked records from PwC’s Cyprus office revealed intricate offshore movements connected to Ennia’s funds, spotlighting the firm’s involvement in activities concerning Russian oligarchs and financial improprieties.
Despite detailed questions about their association with Ansary and the shell companies, PwC refrained from specific answers, citing client confidentiality. However, the firm emphasized its commitment to maintaining high professional standards.
The scandal has left thousands in Curacao awaiting resolution. The potential loss of Ennia pension income has created widespread concern, with affected individuals expressing a sense of injustice and financial insecurity.
Hushang Ansary’s journey, from a middle-class upbringing in Iran to influential roles in the Iranian government, culminated in powerful positions such as Iran’s ambassador to the US and finance minister. His swift ascent, described as a blend of astuteness, determination, and calculated generosity, positioned him at the pinnacle of Iranian authority.
Ansary’s move to the US following the Iranian revolution led to investments in various industries, including partnerships with notable figures like Henry Kissinger and Frank Carlucci. His involvement in the Caribbean, notably St. Maarten’s resort and casino, represented efforts, according to Ansary, to contribute to island economies rather than solely for profit.
Ansary’s leadership at Ennia raised red flags, as allegations emerged concerning conflicted investments, mismanagement of assets, and personal gains at the expense of Ennia’s financial stability. Instances of alleged conflicts of interest, including the transfer of a damaged St. Maarten property to Ennia’s ownership, further fueled controversy.
Accusations regarding the diversion of Ennia funds towards U.S. political causes surfaced, including sizable donations to Republican figures and organizations. These transactions, allegedly from Ennia-linked money, remain a contentious point amidst the ongoing investigation.
The intricate web of financial transactions, conflicts of interest, and alleged mismanagement surrounding Hushang Ansary’s tenure at Ennia continues to unravel, raising profound concerns about financial integrity and the well-being of affected pension holders in Curacao and neighboring islands.
