(MENAFN- The Peninsula) The son of Chilean president Michelle Bachelet has resigned from the country's Socialist Party, as authorities pursue an influence peddling investigation against him.
Sebastian Davalos, 36, in a resignation letter released Sunday by Socialist Party officials, ended 15 years in the party, as allegations are probed against him and his wife.
Authorities allege that Davalos used his influence to get a Banco de Chile executive to grant his wife a $10 million loan. The money later was used by his wife to buy land in a town in central Chile.
Last month, Davalos stepped down from an unpaid government position after conservative politicians sought charges.
His mother and president of the country, Michelle Bachelet, has denied she knew of the loan.
Bachelet, who took office a year ago, promised to work for a more just nation.
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