Archive for August 27th, 2008

Miami trial will confirm the depths of financial corruption under Hugo Chavez

August 27, 2008

Surprise, surprise, Kauffman and buddies have revealed
to US Prosecutors that they funneled payoffs and kickbacks to
Venezuelan officials in all sorts of deals. From payoffs to PDVSA to
commissions on Argentinean bonds and structured notes, all the way to
paying commissions Kauffman has detailed what you read in this blog
long time ago.

Kauffman was a well known intermediary both for
banking deposits and securities sold to friendly banks which paid
commissions, he obviously was paying off Government officials but this
is the first testimony by anyone involved confirming what we all knew
had to be happening. After all, how could Kauffman and Duran get so
rich, so fast to be able to buy Venoco in cash or have a $40 million
dollar, twelve year CD at the American Express Bank?

Because
Kauffman and three other were well known for their shenanigans in the
Venezuelan financial world in what is one of the biggest corruption
rackets ever.  I first wrote about structured notes in November 2005, about Argentinean bonds later that month, when Petkoff in Tal Cual detailed the same corruption racket I had written about.

The
last paragraph of the Bloomberg note also describes how Kauffman and
buddies also participated in the corruption racket with the banking
system which I wrote about here,
but PSF’s even dare suggest that is how banking systems operate
everywhere. Of course, they did not take the trouble to even begin to
understand what I was writing about.

Well, soon we will know
even more details, as the trial in Miami begins and some of the biggest
financial corruption scandals in the history of the planet are revealed
in exquisite detail, while Chavez and his Minister claim its is the
Empire making it all up.

But we all know it’s true, everyone in
Caracas knows the names and the multi million dollar corruption rackets. The international press has reported it, now
it will be told under sworn testimony by people who can’t possible
justify the wealth they have, revealing how naked the autocrat is and
how corruption is everywhere.

That is why it is called the robolution.

Follow

Get every new post delivered to your Inbox.

Join 11,644 other followers