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“Holdouts” reveal alleged money laundering operations of business people close to Cristina Fernandez

Thursday, October 9th 2014 - 08:23 UTC
Full article 113 comments
Lazaro Baez is a public works contractor in the southern province of Santa Cruz, political turf of the Kirchner couple Lazaro Baez is a public works contractor in the southern province of Santa Cruz, political turf of the Kirchner couple

The American Task Force (AFTA) sponsored by 'holdouts' NML in litigation with Argentina over sovereign bonds payment, revealed on Wednesday foreign accounts of Argentine public works contractor, believed to be involved with the Kirchner family businesses, Lazaro Baez, and showed a map with the money movement, allegedly committing the crime of money laundering.

In a video conference from New York, Robert Shapiro AFTA president gave the name of three banks, two in Switzerland, AIG Private Bank, Zurich and PICTET, and a third in Liechtenstein, LGT, through which the funds are channeled before returning to Argentina.

Shapiro pointed out that the banks involved have done nothing illegal or incorrect, “the problem is with those who deposit the funds”. According to the map displayed, based on the investigation of Argentine prosecutor Jose Maria Campagnoli, Baez funds left Argentina, for neighboring Uruguay and then to Panama, Belize, British Virgin Islands, Bahamas, where they are converted into dollars and then to the above mentioned Swiss and Lichtenstein banks.

Some of the funds end in real estate in Florida or in companies registered in Nevada.

Shapiro during the video conference was supported by Dennis Hranitzky, advisor to Paul Singer, head of NML and who has promised to continue pushing with these kind of revelations.

“We have no intention stopping here. As we have said in other opportunities this is but the tip of the iceberg and more information will be forthcoming”, Shapiro told the media.

“We are still looking into the 123 companies registered in the state of Nevada, which we also believe is part of the route followed by some of the funds allegedly illegally taken out of Argentina”, he added.

On Sunday NML Capital lawyer Robert Cohen said his client “wants to negotiate” with Argentina and questioned the attitude from the government of President Cristina Fernandez.

Top Comments

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  • Frank

    Popcorn anyone?
    This should be fun...

    Oct 09th, 2014 - 09:07 am 0
  • Buzzsaw

    Hmm I wonder what Aces AFTA have tucked up their sleeve or is this just trying to call the Arg Governments bluff. Maybe they are trying to see who looses their bottle and runs, or will they cover each others backs.
    It will be interesting to see what happens.

    Oct 09th, 2014 - 09:21 am 0
  • Voice

    “through which the funds are channeled before returning to Argentina.”'s not money being squirreled away by Govt or Govt officials out of the country....
    What is the point of this investigation..again...?...I don't see the relevance....

    Oct 09th, 2014 - 09:25 am 0
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