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Montevideo, March 25th 2019 - 20:22 UTC

US Justice will release confidential information on a Kirchner´s family business associate

Monday, February 23rd 2015 - 06:44 UTC
Full article 32 comments
Public works tycoon Lazaro Baez, a close business associate of the Kirchner family is suspected of laundering US$65 million of funds for the Argentine government. Public works tycoon Lazaro Baez, a close business associate of the Kirchner family is suspected of laundering US$65 million of funds for the Argentine government.
Allegedly Nevada 123 companies are linked to Baez. This is based on the criminal investigation launched last year by Argentine prosecutor José María Campagnoli Allegedly Nevada 123 companies are linked to Baez. This is based on the criminal investigation launched last year by Argentine prosecutor José María Campagnoli

United States Justice authorized the release of confidential information on the investigation of 123 companies allegedly linked to Argentine public works tycoon Lázaro Baez, a close business associate of the Kirchner family and which holdout funds that are suing Argentina in New York court suspect were used to launder US$65 million of funds for the federal government.

 The resolution came after a request by Argentine journalist Jorge Lanata, who had said the documents were in the public interest.

Magistrate Cam Ferenbach authorized to make public the testimony of Patricia Amunategui, employee of MF Corporate Services, who supposedly assisted on the formation of hundreds of business entities, including the Nevada shell corporations allegedly used by Baez for money laundering.

A “partial” version of the testimony will be released on March 5 and a hearing will be held on March 9.

“The public interests are too significant. They involve the health of the global bond market, the court’s constitutional role in finalizing cases and controversies and credible allegations of fraud involving hundreds of Nevada corporations and a sovereign nation,” Ferenbach concluded.

“Under these circumstances Ms Amunategui private interests do not outweigh the public’s countervailing interests.”

The magistrate judge granted the holdout fund Elliott Management in August discovery rights to the 123 companies allegedly linked to Baez. Elliott based its case on the criminal investigation launched last year by once-suspended prosecutor José María Campagnoli following a television report by Clarin Group star Jorge Lanata on his television show Periodismo para Todos.

Lanata broadcast videotaped statements by alleged associates of Baez describing a scheme to take sacks of cash out of Argentina and launder about US$65 million through a network of obscure companies in tax havens around the world.

Baez, who hasn’t been charged with a crime, has long denied any wrongdoing and says the embezzlement allegations are part of a campaign to discredit the Kirchner administration.

Top Comments

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  • Enrique Massot

    In the Guardian today:
    “Stuart Gulliver, the HSBC chief executive...sheltered millions of pounds in a Swiss account through a Panamanian company and remains tax domiciled in Hong Kong.
    ”Leaked files show that the Derby-born Gulliver, (held) about £5m in a Swiss account.
    “The...private bank was complicit in tax evasion and aggressive tax avoidance, doled out bricks of cash in mixed currencies to clients, and provided banking services to criminals, drug smugglers, and friends and families of dictators.”
    Lanata and Campagnoli should take a look. Perhaps Báez' money is at HSBC! Sorry-could not resist.
    http://www.theguardian.com/business/2015/feb/22/swiss-account-secret-of-hsbc-chief-stuart-gulliver-revealed?CMP=EMCNEWEML6619I2

    Feb 23rd, 2015 - 07:44 am 0
  • ElaineB

    @1 Oh, well done! You are following the 'distract at all costs' instruction from the K's. Don't forget you need to personally attack anyone posting anything negative about your glorious leader.

    When were you last in Argentina? I am pretty sure I have spent more time there than you in the last decade.

    Feb 23rd, 2015 - 09:25 am 0
  • ChrisR

    Lanata will be next on the suicide list.

    Singer should be ready to move against argie assets this year! I can't wait.

    Feb 23rd, 2015 - 09:56 am 0
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