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There's a lot of talk lately about transition in Venezuela, given that Nicolas Maduro's term ends 10 January 2019. Most observers realised a long time ago the need to replace the chavista model, ideally with some kind of workable system of governance -controlled by the opposition- that could implement immediate changes to the economy, which in turn, considering the amount of oil reserves that Venezuela claims to have, would turn the country into a Mecca of foreign direct investment.
Not a secret that Al Capone got done for tax evasion. Neither that Italy's Agenzia delle Entrate launched a rather spectacular probe into Dolce & Gabbana international operations due to alleged tax evasion. So what about Rafael Ramirez? Sources repeatedly place Ramirez, wife Beatrice Sanso, and brother in law Baldo Sanso as residents in Italy. Our own investigation found details of Baldo Sanso's ex wife and son living in Rome, as well as tax identification cards related to Ramirez, Beatrice and Baldo.
So on Tuesday this week, sources reported that a Geneva court issued a ruling against Francisco Morillo and Helsinge, in a fraud case brought by PDVSA. Geneva's prosecutors launched a penal probe upon information on a large fraud scheme perpetrated by Morillo and Helsinge, in which some of the largest energy trading houses of Switzerland are involved.
A penal court in Geneva has ruled in favour of PDVSA in case brought against Helsinge, according to sources. A criminal investigation was launched in early March this year, following complaint filed on 13 February with Geneva's Public Prosecutor's Office by Swiss law firm Canonica Valticos de Preux. It remains to be seen how the ruling will affect energy trading houses Glencore, Trafigura, Vitol, Lukoil and others involved with Helsinge, and indeed the Florida case of PDVSA US litigation Trust.
"Binaggia worked with EFG, $1.5 billion went through it. But then EFG got cold feet, and after getting their 1% commission told the Obertos to take their business elsewhere. That's when Charles and Danilo came in..." That is how the source described one of PDVSA's forays into cooling Venezuela's economy, by removing "excess" cash from circulation.
More leaks suggest DoJ is preparing another set of indictments / charges against Venezuelan Boligarchs. This $4 billion money laudering gig will feature Charles Henry de Beaumont, his boss at Compagnie Bancaire Helvetique Joseph Benhamou; Pedro Binnagia, Pablo Custer and Dieter Stäubli at EFG Bank; and
a yet-to-be-revealed banker Stephen Coleman and Peter Weinzierl at Meinl Bank.