The Macri family firm Socma, in 1997 took charge of Argentina’s privatized postal service under the free-market government of former president Carlos Menem. The postal service Correo Argentino was renationalized in 2003 after alleged mismanagement by the Macri firm and for failing to pay the concession fee for several years in a row. At the time, Socma claimed that the investments it had made in the postal service compensated for their failure to pay the agreed fee. The Macri family’s debt with the state was of 450m Argentinian pesos, which was about $128m at the 2003 exchange rate... The Socma firm was originally owned by the president’s father, Francisco Macri, who turned it over to three of his children, including Mauricio Macri, in 2007. Mauricio Macri in turn turned over his shares to three of his own children in a series of steps between 2008 and 2014. He was elected president in 2015.
Uki Goñi, 'Argentina president accused of conflict of interest after company's debt forgiven', The Guardian
