Torres Nieves affirms he is president of Politank.

Manuel Torres Nieves

By THE STAR STAFF

Manuel Torres Nieves affirmed on Thursday that he is the president of Politank and defended the firm’s corporate structure, maintaining that Francisco Domenech Fernández completely severed his ties with the company following a share repurchase.

In the Department of State’s Corporate Registry, regarding the firm Politank, Torres Nieves is listed as chief executive officer (CEO), secretary, and resident agent.

“In recent months, comments have circulated regarding Politank, its executives, and its clients; these comments stem from a sustained effort by groups with specific interests, who have utilized various forums -- including media outlets -- to advance commercial agendas that are unrelated to the public interest,” Torres Nieves said in a written statement.

“As Attorney Francisco Domenech has publicly clarified on several occasions -- and as our firm conveyed to members of the press last September -- the transaction for the purchase of the firm’s shares was executed through a share repurchase mechanism, whereby the company acquired its own shares and made full payment,” he added. “This transaction entailed his complete separation from the company.”

Torres Nieves made the remarks in a statement issued by Politank, in which he asserted that he presides over the company following Domenech’s departure prior to assuming the post of La Fortaleza chief of staff. He also noted that the firm has operated for over 15 years under a shareholding structure that, he maintained, is duly established.

The Politank president said further that as part of the transaction, it was stipulated that there would be no additional compensation, royalties, conditional payments, or long-term payment structures. As he indicated, the obligation was fully settled on Jan. 1, 2025 -- the date on which Domenech’s definitive separation was also formalized.

“As part of the buyback transaction, it was established that there would be no additional compensation of any nature -- including, but not limited to, royalties, payments contingent upon company results, or long-term payment structures -- with the entire obligation being fully settled on January 1, 2025,” Torres Nieves said.

He also rejected allegations regarding Politank’s relationship with former official Elisa Muñoz.

“We must clarify that Ms. Muñoz ended her employment with Politank more than three years ago, and there are no financial compensation agreements in place following her departure,” he said.