Ten days ago, I had a conversation with a source highly knowledgeable about bonds. They mentioned that some institutional investors were going to approach the courts to activate the acceleration clause of the 2034 bond…
In addition to last week’s news regarding a ruling against PDVSA in the criminal lawsuit filed against Helsinge, Francisco Morillo, and others, sources familiar with the situation in Venezuela have provided further details. A court…
Recently, there’s been a lot of talk about the transition in Venezuela, as the term of Nicolás Maduro ends on January 10, 2019. Most observers have long recognized the need to replace the chavista model,…
It’s no secret that Al Capone was killed for tax evasion. Likewise, the Agenzia delle Entrate in Italy launched a quite spectacular investigation into the international operations of Dolce & Gabbana due to alleged tax…
On Tuesday of this week, sources reported that a court in Geneva issued a ruling against Francisco Morillo and Helsinge, in a fraud case brought by PDVSA. Geneva prosecutors have initiated a criminal investigation into…
A criminal court in Geneva ruled in favor of PDVSA in the case brought against Helsinge, according to sources. In early March of this year, a criminal investigation was launched following a complaint submitted on…
There’s more to Raúl Gorrín. The United States Department of Justice has just scratched the surface. On Tuesday, December 1, 2009, Gorrín sent an email that included, among other things, the following instruction: Amount 3,850,000…
Last night, the Department of Justice (DoJ) charged Raúl Gorrín with money laundering. Readers of this site were already aware that this was coming. Alejandro Andrade, Claudia Díaz Guillén, and Adrián Velásquez (both awaiting extradition…
A source informed this site that the U.S. Department of Justice will unveil the accusations related to the corruption scheme of Alejandro Andrade during his time as the head of the Venezuelan Treasury Bank. It…
The director of Julius Baer, Pek Huat Teh, has issued a threat of “criminal action.” Um… I hope Pek made that earlier threat of “penal action” with Julius Baer’s legal advisor before sending it out,…
Global Witness, self-proclaimed protector of “human rights and the environment by fearlessly confronting corruption and challenging the systems that enable it,” remains silent on PDVSA. In fact, it’s complete silence. A search for PDVSA on…
It didn’t take long for leaks about Venezuela’s newfound love for Turkish delights to emerge. The latest involves the President of the Supreme Court of Venezuela, Maikel Moreno, landing today on a GV (N863MF) at…
There is no rest for the wicked Rafael Ramírez. Beyond his foolish presidential aspirations that will never materialize, Ramírez is a hunted man. Add Portugal to the jurisdictions of the USA, Switzerland, Andorra, Spain, and…
Yesterday afternoon, documents were filed in the case of PDVSA US Litigation Trust v Lukoil, Helsinge, Glencore, Trafigura et al. Judge Alicia M. Otazo-Reyes determined that David Boies / PDVSA Litigation Trust lacked active standing,…
Bloomberg reported in late October that Matthias Krull, the banker at the center of the $1.2 billion PDVSA money laundering scandal alongside Francisco Convit, reportedly tearfully told the court, “I apologize for making a bad…