Friday, August 16th 2013 - 18:00 UTC

Canadian bank abandons Uruguay following raid on its office on request from Argentine judge

The Royal Bank of Canada, RBC, is abandoning Uruguay following a raid in its offices at Zonamerica ordered by a Uruguayan magistrate on request from Argentina during which computers, documents on clients and even cell phones from staff were seized by the intervening party which included on-watching Argentine treasury police.

RBC affiliate will be operational in Zonamerica until 31 October

Julio de Brum “bad signal with tarnished the image of Uruguay’s banking system”

The official version is that the bank is leaving as part of a major ‘restructuring process of its interest in Latinamerica”. With this purpose the head of the bank’s emerging markets office, Barend Jansses visited Montevideo to inform staff of the decision which was later communicated to clients.

As part of the ‘strategic review’ of the bank’s business in Latinamerica, RBC’ “Wealth Management”, it was decided “to close offices in Montevideo as of 31 October 2013”.

The raid last June on the bank’s offices was part of a major operation in several financial institutions in Buenos Aires with alleged connections in Montevideo referred to alleged money laundering schemes in the transfer of South American soccer players involving tens of millions of dollars. 

The raid and sequestration was ordered by Uruguay’s Organized Crime magistrate Adriana de los Santos on request from her peer in Buenos Aries, Argentine federal judge Norberto Oyarbide.

RBC pointed out that the judicial investigation in its Uruguay offices is an ‘independent issue’ and the bank will continue to work with the authorities to clear it. So far there have been no irregularities claims against RBC or any RBC staff.

“The office in Montevideo will remain fully operational until next 31 October to enable a smooth and orderly transition both for staff and clients, providing all the available information together with a high level of service and professional advice all along the transition period”.

Despite the announced deadline of 31 October, the RBC affiliate in Uruguay will remain active until all clients’ accounts have been transferred.

RBC clients can remain and transfer their accounts to the bank’s offices in North America or Europe, which currently serve “more than 90% of RBC Latinamerican clients, or transfer to other financial institution.

Nevertheless RBC remains committed to the Latinamerica market as is has done successfully for over a century, said RBC sources.

But despite RBC elegant exit from Uruguay, the rest of financial institutions are not happy, rather concerned since the court seizure sets a ‘bad record’ and sows mistrust among bank clients.

In effect Magistrate de los Santos reacting to the negative echo of her decision to allow Argentine experts to go through all the computers, documents and cell phones seized revoked the original decision and limited the activity only to “Uruguayan experts”.

For that purpose a special committee was named with experts from the Judiciary branch and the Executive’s Anti-laundering assets office.

Furthermore given the high sensitivity of the acting magistrate’s decisions which in effect involved providing Argentina with information of all of the bank’s clients in its Uruguayan office, the Supreme Court asked de los Santos to inform by writing of the procedure and raid.

To make things worse during the raid Argentine treasury police and other staff were present.

Julio de Brum Executive Director of the Uruguayan Private Banks’ association said the raid caused “great concern” and warned of the ‘bad signal’ which affects “the image of the country’s banking system’.

“The bank raid was done just like if it was in any retail shop looking for contraband”, said de Brun. “We are not questioning the court, but the raid was badly implemented: staff was even frisked and their cell phones seized”.

“The most logic thing would have been to involve Central bank staff; they know what to look for, and with no major repercussions: the whole thing could have been avoided following Uruguayan law and tradition”, said Alberto Varela, tax law expert.

The raids on request from Argentine Judge Oyarbide included not only RBC in Zonamerica but also three financial institutions in the World Trade Centre; both locations work on a special free-zone status with certain benefits under Uruguayan law.

The simultaneous raids took place on 13 June and on 28 June the Uruguayan central bank suspended the licence of Argentine based Alhec Group to operate in Uruguay.

On 8 August the team of Uruguayan experts looking into the seized material returned 27 of the 45 computers.

Meanwhile Orlando Dovat, head of Zonamerica has insistently requested the Uruguayan government releases a message of calm and certainty to the financial community following the raids.

“It is essential for quick action and that government sends a strong message of support to the financial system” said Dovat, adding that “we must not forget that these institutions depend from overseas headquarters and there is concern. The government, the minister, the central bank must transmit a message of certainty”.

“This situation can not be repeated. The RBC incident was badly managed”, pointed out Dovat who suggested “a protocol to which judges must keep in such situations, which I believe is the responsibility of the Central bank” or on the other hand “clarify the tax exchange understanding with Argentina because it is quite confusing regarding tax and criminal law”, and there were excesses committed.             

62 comments Feed

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1 Stevie (#) Aug 16th, 2013 - 06:37 pm Report abuse
Canadian washing machines... anybody?
2 Porto Margaret (#) Aug 16th, 2013 - 07:00 pm Report abuse

As the Uruguay authorities have all they want let's see where if anywhere this actually goes.

It is odd that this was all being directed from BA with de los Santos holding up her petticoat so the Argentine treasury police could have a peek.

Added to this;
'Uruguayan central bank suspended the licence of Argentine based Alhec Group to operate in Uruguay.'
3 Marcos Alejandro (#) Aug 16th, 2013 - 08:44 pm Report abuse
The Royal Crooks of Canada run away.
4 Anglotino (#) Aug 16th, 2013 - 08:51 pm Report abuse
Raiding a bank isn't what has damaged Uruguay's reputation.

It's the bungled nature of the raid involving people from another country that smacks of tinpot regime that destroys trust.

Uruguay might be a small country between two larger ones but that doesn't mean it has to bend over and take it whenever one of them wants something.

Uruguay, the Switzerland of South America? Hardly!
5 Troy Tempest (#) Aug 16th, 2013 - 09:37 pm Report abuse
Uruguay lap dogs... anybody?
6 Marcos Alejandro (#) Aug 16th, 2013 - 10:04 pm Report abuse
Oh Canada, we stand on cars and freeze...

Canada lap dog of the English Queen.
7 Captain Poppy (#) Aug 16th, 2013 - 10:48 pm Report abuse
#3 of course, anyone not a brown skinned latin must be a crook.
8 Biguggy (#) Aug 17th, 2013 - 01:56 am Report abuse
This should send quite a clear message to any company, not only banks, that are doing, or are considering, doing business in both Uruguay and Argentina.
9 Think (#) Aug 17th, 2013 - 02:42 am Report abuse

- The Banks say…:
1) The Bank raids caused great concern….
2) The Bank raids were done just like if it was in any retail shop looking for contraband….
3) The Bank raids were badly implemented: Staff was even frisked and their cell phones seized….
4) The Banks want the Government, the Ministers and the Central Bank of Uruguay to transmit a ”Message of Certainty”.
5) The Banks want the the Tax Exchange understanding with Argentina clarified because it is quite confusing regarding tax and criminal law”.

- I say (to the Banksters)…..:
1) Bet it did..:-)))
2) The raid against the Banksters was done as it was in a Banksters den, looking for asset laundering…
3) The raid against the Banksters was correctly implemented: Staff was throughtly frisked and their smartphones seized…
4) The Banksters have certainly ”been transmitted” a a crystal clear ”message” by the Government, the Ministers and the Central Bank of Uruguay…:-)))
5) The Argentinean_Uruguayan Tax Exchange Understanding clarified for Banksters…..: **If you can’t do the Time….., don´t do the Crime.**
10 reality check (#) Aug 17th, 2013 - 03:06 am Report abuse
Uruguayan judge gives Argentina tax police a warrant to go on a Fishing Expedition, got to love it, talk about biting yourself in the ass. This could effect confidence in the Uruguayan banking system, what an understatement!
11 Don Alberto (#) Aug 17th, 2013 - 04:48 am Report abuse
Some clown who lives far out in the countryside in Chubut knows so little of business that he doesn't understand that having the company's computers seized cost a fortune in missed business opportunities.

Checking a bank, including the Royal Bank of Canada in Uruguay, is fair enough, but unless one wants to get into serious trouble with both RCB and other banks, it has to be done properly and as always assuming the suspect is innocent until proven otherwise.
12 reality check (#) Aug 17th, 2013 - 05:30 am Report abuse
Thorough search I call it, I mean they were bound to find hard drives in the pockets of the bank staff and numerous money transfers conducted on their personal mobile telephones. Did they search their cars I wonder? might have missed something there. Ferkin idiots!
13 Stevie (#) Aug 17th, 2013 - 07:06 am Report abuse
But we want to get in serious trouble with the banks.
This financial crisis has shown they are all crooks, with the exception that they never go to jail for their crimes, they get bailouts instead.

You keep bailing them out now, it would seem some royal Canadians are next in line.

We'll be making justice in the meantime...
14 yankeeboy (#) Aug 17th, 2013 - 07:46 am Report abuse
Uruguay letting Argentina direct anything in their country is a very bad idea.
ol' drunk pepe needs to be put out to pasture
and let the grown-ups run the country before he completely ruins it

I see a scenario happening very shortly where most every legitimate Int'l mfgs pulls out of Arg. GM FORD DOW GE...bye bye and never to return.
15 reality check (#) Aug 17th, 2013 - 08:03 am Report abuse
Wiki states RBC has been in Uruguay since 1919 and employs 80,100 people world wide.

Give yourself a cheap thrill Stevie, log on and amend it!
16 Britninja (#) Aug 17th, 2013 - 08:10 am Report abuse
Poor Uruguay - being Argentina's bitch will have repercussions.
17 Captain Poppy (#) Aug 17th, 2013 - 08:37 am Report abuse
Yes....this will certainly go a long way in attracting new DFI in Uruguay.
18 Stevie (#) Aug 17th, 2013 - 09:42 am Report abuse
So Uruguay should stick to that money laudering bank because it's Canadian, or because it employés many people worldwide?

Nah, let them go and wash dollars closer to home instead...
19 Anglotino (#) Aug 17th, 2013 - 10:37 am Report abuse
“So far there have been no irregularities claims against RBC or any RBC staff.”
20 Troy Tempest (#) Aug 17th, 2013 - 10:54 am Report abuse
“The raid last June on the bank’s offices was part of a major operation in several financial institutions in Buenos Aires with alleged connections in Montevideo referred to alleged money laundering schemes in the transfer of South American soccer players involving tens of millions of dollars. ”

So what this is really about is Argentina wants to get its hands on “tens of millions of dollars” from its soccer players.

“So far there have been no irregularities claims against RBC or any RBC staff.”

In other words, the Argentine fishing trip did NOT find a “money-laundering” operation by the RBC, despite their experts examining all the computers and private records and transactions.

“RBC clients can remain and transfer their accounts to the bank’s offices in North America or Europe, ”

Sounds like Uruguay has ended 100 years of banking with Canada's biggest and most stable bank, resulting in most of RBC's banking business and clients assets in SA being transferred to North America and Europe, away from capricious raids by Argentina.
How readily do you think RBC will approve any investment capital for Argentina, now?? What will they advise their clients?

Do you think Uruguay will ever be trusted again as being independent of Argentine influence or coercion? How much damage has this done to their banking system and foreign investment?

Once again, Uruguay shows that it Argentina's willing lackey, and Argentina has shown the real control they have.

Potential damage to Uruguay's economy and security for foreign investors in Uruguay? Who cares, certainly not Argentina, this like Mercosur, will drag Uruguay down with them.

“Stevie” really shows he is NOT from Uruguay.
21 ChrisR (#) Aug 17th, 2013 - 11:08 am Report abuse

When are you going to STFU about things you do not understand (finance of any sort) about a country you do not live in?

It is getting tiresome to say the least when you constantly blame people on no evidence in the cause of Socialism.

I have almost all of my money invested in the ROU and I am livid that the stupid cunt of a “magistrate” allowed this to happen AND with police from The Dark Country in attendance FFS!

The fucking Dark Country has no right at all to enter ANY financial establishment in ANY other country purely on a fishing matter because they themselves cause the problem of all the hidden money.

If I were an Argentine being screwed by TMBOA, one of the worst liars and thieves in that country AND that is really saying something, then I would want my money out of HER pockets.

The ROU has projected itself to be a country that can be trusted at the international level. With this action it has proven itself to be UNTRUSTWORTHY, don’t you even understand that? We (or more accurately ME as you do not live here) are now seen by any reasonable person or honest company to be as bad a Argentina and probably worse than Brazil. At least the finance minister there is known for his inveterate lying whereas everybody thought WE were honest and could be trusted.
22 Captain Poppy (#) Aug 17th, 2013 - 11:51 am Report abuse
Hearing argentina make a claim of criminal activity is like listening to a whore cry rape. They make the accusations and nothing manifests itself. this the reason you do not live in South America? Smart move......I cannot blame you. you lock,stock and barrel support everything the axis of stupidity(venezula, uruguay and argentina) does so diligently?
23 bushpilot (#) Aug 17th, 2013 - 11:55 am Report abuse
You have money, I do not = You are a crook.

Banks have money, I do not = Banks are crooks.

Stevie and Think, you have been staring at that Che Guevarra poster in your bedroom for too long. Take that thing down and spend more time exercising your brain in the real world.

I understand Che was a cool looking guy, but it is just a picture and doesn't have anything to do with reality I'm sorry to let you know. Again, get out into the real world and make real observations. Forget that fantasy communist tripe, it too does not have anything to do with the real world in which we actually exist.
24 Conqueror (#) Aug 17th, 2013 - 12:12 pm Report abuse
Argieland is a place of criminals. Corrupt, degenerate, depraved, egoistical, genocidal, hubristic, incompetent, kleptomaniac, larcenous, mendacious, narcissistic, puerile, sick. And so many other nasty attributes. Now Uruguay has followed it into infamy. I'm with ChrisR. This represents incalculable damage to Uruguay's reputation. And it even has a dumb wimp as a “leader”. Will Mujica be proud to have effectively wrecked his country's reputation? December 1939 and Uruguay showed its courage and morality. Despite the proximity of a nazi puppet, Uruguay stood against despotism and tyranny. Now it's part of another evil axis.
25 redp0ll (#) Aug 17th, 2013 - 02:40 pm Report abuse
Another erosion of our sovreignty which wimp Pepe allows. Of course Argentina and her mad president still thinks of us a the lost Oriental province. An interesting article on her mental health in El Pais today
26 Stevie (#) Aug 17th, 2013 - 03:53 pm Report abuse

Bye bye, biggest. oldest bank of Royal Canadians

27 Think (#) Aug 17th, 2013 - 04:11 pm Report abuse
Go home, degenerate Canadians ;-)
28 ChrisR (#) Aug 17th, 2013 - 04:41 pm Report abuse
@ 27 Your family have arrived:

Makes as much sense as you!

And not a mention about my razor sharp flick-knives or my 2/3 scale Bowie fighting knife.

Oh damn!
29 bushpilot (#) Aug 17th, 2013 - 04:44 pm Report abuse
Bunch of Chavez troglodytes. Clubs 'n all.

And they can't go home and survive outside their white man's world.

They hate the white man and it's culture, but they survive off it. Not enough cranial capacity to see the problem with this. Cave dwellers you see.
30 Stevie (#) Aug 17th, 2013 - 04:55 pm Report abuse
Eh... sure bushpilot... whatever you say...

Now, wave with me.

Bye bye thou old, big royal Canadian.

31 Troy Tempest (#) Aug 17th, 2013 - 04:59 pm Report abuse
Oh, jeez, even less money now.

You didn't think that one through, did you?
32 redp0ll (#) Aug 17th, 2013 - 05:26 pm Report abuse
Thinko I think you should really change that Woolly Bugger on the end of your line. Its only catching tiddlers mate. Monty Python? Johnn Cleese? For Gods sake! Do you have a Ministry of Silly Walks down there in Chubut? Sounds par for your course. See the results for the mid term elections for your province last week? Cristinas medical advisors talk of her hubris syndrome. Mebbe you can invent a new fly of that name to tie on your dropper? May not catch many fish but will sure scare the hell out of them and they might bite out of pure rage
33 yankeeboy (#) Aug 17th, 2013 - 05:36 pm Report abuse
I wonder where the employees and management will work now? It's not like there are a lot of job in Uruguay.
Bye bye tax revenue, bye bye jobs, bye bye rent
Get used to is boys
It's gonna happen a lot soon.
34 Think (#) Aug 17th, 2013 - 06:02 pm Report abuse
(32) redp0ll

You say....:
“ See the results for the mid term elections for your province last week”

I say....:
A bit dificult to look at last weeks mid term election results on my province (or any other Argentinean province)
Mid term elections are to be held on the 27th October 2013....
That's in about 40 days time.....

Please inform yourself a bit better when commenting about Chubut (or Argentina)
35 Anglotino (#) Aug 17th, 2013 - 07:42 pm Report abuse
I've never come across people that so gleefully enjoy that their countries are so ANTI-business.

The Royal Bank of Canada will go on, continue trading and make profits elsewhere. This wouldn't even be considered a setback because those resources will be deployed elsewhere.

Uruguay loses foreign investment, experience, knowledge, tax, employment and links with one of the world's most stable and prosperous countries.

It doesn't matter how you try to spin it, a tiny market of 3.5 million people dominated by a dysfunctional neighbour verging on economic collapse again, is the only loser in this.
36 Stevie (#) Aug 17th, 2013 - 08:21 pm Report abuse
Nah Anglolatino, Uruguay loses out on a Money laundrying bank that ships profit somewhere else...

We are ok with that, don't worry about us :)
37 Anglotino (#) Aug 17th, 2013 - 09:26 pm Report abuse

As nothing has been proven, it is only Uruguay that has lost out.

Now while I understand that you choose not to live in the country you proclaim to love so much; it is clear that you place very little value on the actual Uruguayans that are losing their jobs and government services from the lower tax income.

You can always rely on you to put political creed above the needs of actual people.

If the bank has done wrong then it should pay the price but the only loser now and into the future will still be Uruguay.
38 redp0ll (#) Aug 17th, 2013 - 09:41 pm Report abuse
@34 Ok so I was mistaken. There were no elections a few days ago in either Argentina or Chubut. I admit ired about it in the international press, so they must have made it up. What a bunch of bloody liars out to GET argentina. Squawck to the UN about it. An infringement on the sovriegn rights of the place called Argentina of course to be reported to the Security Council AT ONCE and to DEMAND suppresion of all articles unfavourable to Buenos Aires
In the Republica Oriental de Uruguays constitution (you know that little place in your heart you covet as the lost Oriental Province) no foriegn forces are allowed on our terretory without parliamentary sanction which is not easily given. So what were Argentinas economic thug police doing on our terretory? We are perfectly capable of dealing with economic crime through our own justice system. In any case unless you havent heard there is an organization called INTERPOL through which to channel any international crime investigation.
Having recently returned from Africa and seen the havoc wrought to a once prosperous country like Zimbabwe I thank my lucky stars that I live in a country that works. Yes we have problems I would be the first to admit. If you present president wants to follow Robert Mugabes example and wheel your country to hell on a handcart that your affair but we want no part of it
Havent you people got enough Lebensraum without casting envious eyes on your nieghbours?
39 Think (#) Aug 18th, 2013 - 12:53 am Report abuse
(38) redpoll

Yes, you were mistaken. There were no “Mid-Term” elections a few days ago in either Argentina or Chubut….. Some of the international press that you obviously read tried to make our ”Primary Election” look like a ”Mid Term” election….. Why…..? You ask them…..

In the Republica Oriental del Uruguay Constitution (A little place in my heart, where I have spent many wonderful times) no foreign Armed Farces are allowed without parliamentary sanction…. The civilian Argentinean Economic Advisory Team was there, on Uruguayan invitation, to assist in the ongoing World-Wide-War against money laundering…...... and to eat some serious Chivitos of churrasco, ham, bacon, lettuce, tomato, onions, olives, peppers, pickles, melted mozzarella, a fried egg and some salsa Golf……..

I concord with you that Robert Mugabe should be shot in the buttocks with a 28 gauge loaded with Himalayan Pink Salt Crystals and send to the nursing home…..
Having said the above; I discord with you about Rhodesia having ever been a ”Prosperous Country”…..
A “Prosperous Place” for the 5-10% elite, indeed, but never a ”Prosperous Country”…….
A “Prosperous Place” for the 10% elite….. pretty much like 1890's-1940's Argentina, I reckon……
Luckily, the recent “Primary Elections” in my Province (and the rest of Argentina) bear clear witness that Argentina is not going the “Zimbabwean Way”.................. Not at all…..
40 Stevie (#) Aug 18th, 2013 - 10:17 am Report abuse
Nothing has been proven, you say?
Well, the very fact that the bank locks and leaves without any type of demands is just about evidence enough, don't you think?
Sorry, let me rephrase that. Don't you agree?


Of course not...
41 Troy Tempest (#) Aug 18th, 2013 - 12:38 pm Report abuse

Probably they realise there is no Rule of Law they can rely on or trust. Best not to provoke Argentina and Urauguay until they can leave without their clients being further harassed or their assets seized.

Perhaps the RBC refused to allow illegal meddling in their clients affairs and Uruguay (Argentina) are now hostile towards them.

Smart to get out and not deal with a Dictatorship.
42 pgerman (#) Aug 18th, 2013 - 03:37 pm Report abuse
Dear all, it's quite evident that these people, Argentine public servants, are quite effective if it is all about making that the money, and investments, run away from them and the country.

Now it seems that they are not happy about having empoverished Argentina and havign it without a single dollar, or any given thing of value, that they are chasing the money people have in Montevideo. What is next?
43 Anglotino (#) Aug 18th, 2013 - 05:45 pm Report abuse

My poor ideologically driven yet secretive friend

If RBC has done wrong, are you really that naïve to think they are now beyond the reach of any sanctions?
44 Biguggy (#) Aug 18th, 2013 - 05:54 pm Report abuse
My opinion, for what it worth.
The RGsè were after the names of RG account holders, to find out if they could put the 'squeeze' on any with $$ holdings. The 'money laundering' excuse was just a smoke screen.
45 Troy Tempest (#) Aug 18th, 2013 - 09:20 pm Report abuse
44 big

That much is clear, but they have no qualms about defaming foreigners or foreign institutions for their purposes. The Trolls are taking this opportunity to run with the ball making shameless accusations.

And, who do the Trolls work for... ?
46 ChrisR (#) Aug 19th, 2013 - 07:51 am Report abuse
36 Stevie

When, oh when, are you going to admit that YOU have NO SAY in the ROU?

You do not live here, pay income tax or any other tax here except IVA on the stuff you buy for your mom and dad when you visit them.

I have every right to say “we” or criticise or praise the government because I LIVE here and pay all the taxes that are due to me living here.

So please think again before putting your wish to be here into delusions that you are her, YOU ARE NOT HERE!

As your argie mates say: get used to it.
47 Stevie (#) Aug 19th, 2013 - 09:07 am Report abuse
Chris, I do admit I tend to live in my shoes, but as any employee I pay taxes, although they are reduced because of my working sector.
You know the difference with my say in ROU and yours?

I have a vote.


Now, could you please stop fishing?
48 ChrisR (#) Aug 19th, 2013 - 12:25 pm Report abuse
47 Stevie

Let's try again, shall we?

Do you pay income tax to the ROU? There, it's very simple. YES or NO?

Do you pay income tax in Sweden? There, it's very simple. YES or NO?

I am sure you will see why I have posted it this way. And yes, you may have a vote but that does not mean that you live here, it simply means you have registered your ethnicity and are entitled to a vote as I will be some day when my Citizenship is authorised.

Whichever way you weasel it, the fact that you have a vote and do not live in the country and have not done so for many, many years and have no intention of doing so is reprehensible to many people, myself included.

I pay income tax (and a number of other taxes of significant value) to Uruguay because I live honestly. I also pay taxes in the UK and could register for a vote as I still have property interests there. But as I no longer live there why should I, just because I can? Frankly, it’s immoral.

I am sure that you can salve your conscience in other ways. I will stop fishing when you stop pretending that you are in the ROU.
49 Anbar (#) Aug 19th, 2013 - 01:01 pm Report abuse
So, to sum things up.

Uruguayan authorities raided RBC premises to search for evidence of money laundering, at the behest of Argentina and with Argentinian officials present.

RBC pulls the plug on its Uruguayan branch.

The above may, or may not, be linked.

No Money Laundering activities have been proven/produced/evinced.

Those Uruguayans who were working for the Bank are now out of a job.

Think and Stevie think that this is a good thing.
50 Troy Tempest (#) Aug 19th, 2013 - 02:48 pm Report abuse
“Think and Stevie think that this is a good thing.”

The question is, how does this affect THEM and their interests??
51 ChrisR (#) Aug 19th, 2013 - 03:09 pm Report abuse
Neither of them have any money so they don't GAF.
52 Orbit (#) Aug 19th, 2013 - 07:01 pm Report abuse
Face here, message to nose: “Have knife, where are you?”

Let us not forget that Canadian banks are amongst the best capitalised in the world right now. Would have been a good friend to have in troubled times. Ho Hum.
53 Captain Poppy (#) Aug 20th, 2013 - 05:14 am Report abuse
If there is any country that tows the line as Dudley Doo-Right, it is certainly Canada. Uruguay screwed to pooch on this one and acted as Argentina's hand puppet. Now ROU is squawking about FTA with the USA.....maybe, but after this maneuever, no business is going to be flocking to ROU after imitating Argentina.
54 Stevie (#) Aug 20th, 2013 - 10:51 am Report abuse
According to Uruguayan news, the bank in mention has received a huge fine for irregularities when it comes to Money laundrying.

I guess they aren't so innocent after all...

Now, come on you lot. Wave with me!

55 ChrisR (#) Aug 20th, 2013 - 01:17 pm Report abuse
54 Stevie

No answers to my questions in @48. It's OK I think we ALL know the answer.

Paying Income Tax in Sweden does not count for the ROU.

@54 Stevie

Not sure I agree with this as I have checked all the newspapers online in the ROU and I cannot find any evidence of recent money laundering fines set against the RBC. Please provide a link.

Perhaps they are getting confused with the fact that RBC purchased Coutts and Co. the Queens Bankers AFTER they were fined in 2012 for money laundering. They were part of the Royal Bank of Scotland who had to sell Coutts to pay the fine. RBS / RBC sound the same?

So it is looking increasingly like the ROU government fucked up big time over this:
1) Allowing argie police into the “crime scene”;
2) NO evidence of money laundering at RBC (so NO crime);
3) Employees searched and private possessions taken from them;
4) Argie bank had its’ licence revoked by ROU Central bank. WHO WOULD HAVE THOUGHT THAT?
5) Uruguayan employees to lose their jobs when RBC leaves Uruguay in October.

I get really frustrated when you make inane comments and gloat over things that have gone wrong in my (adopted) country which will not only affect Uruguayo directly (loss of jobs) but show the COUNTRY up to be (seemingly) a bunch of crooks, no better that the lying, thieving bastards on the other side of the Plate.

Do you not see how foolish you are making yourself appear: you proudly SAY you are Uruguayan and then do everything you can to put us down? Please stop doing it.
56 Casper (#) Aug 20th, 2013 - 02:13 pm Report abuse
@39 Think

Off topic I know, but I have to enquire: Himalayan Pink Salt Crystals? I have no idea what is but it made it laugh.
57 Troy Tempest (#) Aug 20th, 2013 - 02:20 pm Report abuse
56 Casper
“Off topic I know, but I have to enquire: Himalayan Pink Salt Crystals? I have no idea what is but it made it laugh.”

Likely Think is confused too, “Bath Salts” are probably the medication he takes.

Think, been to Florida lately?
58 ChrisR (#) Aug 20th, 2013 - 03:31 pm Report abuse
@56 & 57

Here you go:

It's rock salt.
59 Anglotino (#) Aug 20th, 2013 - 05:17 pm Report abuse

”According to Uruguayan news, the bank in mention has received a huge fine for irregularities when it comes to Money laundrying.

I guess they aren't so innocent after all...

Now, come on you lot. Wave with me!


Link please. Spanish or English.
60 Casper (#) Aug 20th, 2013 - 10:58 pm Report abuse
@58 Chris R

Thanks for the info. That makes it even funnier.
61 Troy Tempest (#) Aug 21st, 2013 - 12:10 am Report abuse
62 ChrisR (#) Aug 21st, 2013 - 07:03 am Report abuse
61 Troy Tempest

Mmm. You will have to help me out here, I don't understand what pictures of Howard Hughes has to do with this topic!
63 Troy Tempest (#) Aug 21st, 2013 - 11:43 pm Report abuse

sorry - I had something else to post - it's lost now!!

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