New Puerto Rico law targets graft, shields whistleblowers

FILE - In this Nov. 13, 2017 file photo, Puerto Rico Gov. Ricardo Rossello speaks during a news conference, in Washington. Rossello signed a new law Thursday, Jan. 4, 2018, aimed at fighting corruption in the U.S. territory amid a deep economic crisis. (AP Photo/Evan Vucci, File)

SAN JUAN, Puerto Rico — Puerto Rico's governor has signed a new law aimed at fighting corruption in the U.S. territory amid a deep economic crisis.

The measure bars judges from granting probation to anyone accused of corruption, obstruction of justice or any other charge that involves public funds. People convicted of graft are prohibited from running for elected office.

Gov. Ricardo Rossello said Thursday that the law also strengthens protections for whistleblowers and increases the statute of limitations for those seeking to file a civil complaint for alleged reprisals.

The government can seek triple the amount of compensation in a civil claim for any case involving misuse of public money that results in a conviction.

Other News

Asian stocks drift pending fresh news; oil takes a breather

Aug 16, 2016

Asian stock markets drifted sideways on Tuesday as the price of oil took a breather from a three-day rally

Insurers continue to abandon ACA exchanges, limiting choice

Aug 16, 2016

Aetna will abandon for next year Affordable Care Act insurance exchanges in more than two-thirds of the counties where it sells coverage, making it the latest major health insurer to cuts choices in many markets

Fed minutes: Conditions could 'soon warrant' a rate hike

Aug 17, 2016

Fed minutes: Conditions could 'soon warrant' rate hike, as near-term risks have diminished

The Budget Report seeks to provide comprehensive coverage and analysis on the current economic, financial issues around the world. First hand finance and economic news all day, every day.

Contact us: sales@thebudgetreport.com