The Huge Spoils Of Former Deputy Minister Chavista Alvarado
2021-01-29 | by CusiGO
Javier Alvarado, Vice Minister of energy in Hugo Ch á vez’s government, used a barbed wire fence in a tax haven to buy real estate in Cartagena de Indias (Colombia), Madrid and Miami, and transferred US $15 million (12.4 million euros) to Switzerland, Luxembourg and Dominica. National survey.
According to Andorran police, prior to 2010, he was a director of the Venezuelan public power company, corpoelec Nacional (corpoelec), which used funds purportedly plundered from PDVSA to make these investments.
Since September 2018, former judge chavista has been one of 28 people indicted by an Andorran court for involvement in the 2 billion euro plunder by Venezuelan oil companies. Alvarado is accused of money laundering and belongs to a network that collected commissions from companies in exchange for Energy Awards between 2007 and 2012.
In November 2009, Alvarado used lairholt Finance Limited, a tax haven in Belize, to buy a house in Spain for us $1.1 million (970000 euros). According to internal documents from Andorra private bank (BPA), he also acquired another property in Miami in April 2011 for $950000 through testaferro Michael Freeman. The transfer also showed that in September 2011, Alvarado used his Belize Company to buy an apartment in Madrid for $700000 through the Bank of Panama.
The well read financial movement won the trust of the late Ch á vez, confirming his tendency to move money from one tax haven to another. In August 2014, he transferred 8 million euros from BPA to his account with Millennium Bank of Switzerland. His other million dollars in the Principality of piranaco eventually collapsed in a bank on the island of Dominica. In addition, in March 2015, the former Vice Minister invested $6 million (5 million euros) in Luxembourg for SICAV, a tool used by large companies to reduce taxes.
According to the bill, Alvarado also used his business network to pay for reforms, signs of real estate and expensive decoration.
As a result, in November 2014, it paid $1.5 million to codfish investments S.A., a Panamanian company, through its company Treviso International Foundation.
The payment allowed the decorator “Mr. Nieto” ($150000) to pay; formalized the property logo of “Miami and New York” ($225000); and paid lawyer Michael Freeman, who is considered to be the former chavista’s testaferro “($275000). In addition, a house was rebuilt (250000).
One of the most eye-catching deals is the planned acquisition of hotel Ananda de Cartagena de Indias in Cartagena, a luxury building with 23 white walled guest rooms dating back to the 16th century Caribbean.
In 2014, Alvarado invested $4 million in this business. 70% of the company is owned by the former chief executive. According to the documents, he also owed $2 million to a bank.
According to the minutes of the special meeting of Sirena international S. of Luxembourg on November 7, 2014, the former president acquired 70% of calle del quarter investments, the owner of the hotel, through Sirena international S. of Luxembourg.
Sirena international S.A. is represented in the deal by ceciree Casanova, a former human resources manager at Caracas power company (EDC), which is managed by Alvarado until 2010. According to reports, Casanova became CEO of the association of hotel owners after the acquisition.
The country tried to get a version from Ananda hotel managers, but it failed.
Alvarado, through his lawyer Antonio Catalonia, refused to invest in Colombia. He explained that in March 2015, with the intervention of BPA, he bought a real estate and transformed it into a hotel, but because of the intervention of BPA, he processed five deposits and four companies there, which obtained 46.5 million euros from the alleged PDVSA robbery.
Alvarado refused to provide us with documents proving his refusal to buy Ananda hotel; he called for data protection.
The argument that the establishment of Cartagena Indias was ultimately unsuccessful conflicts with a report by the Andorran Financial Intelligence Agency (uifand), It argues that Alvarado transferred more than $4 million from its Panamanian company Treviso International Foundation to Barbados commercial investment Street headquarters on February 24, 2015 to acquire the hotel.
Alvarado also denied that his multibillion dollar investment was related to the robbery by PDVSA. He linked his wealth to “professional activities in the field of energy and environment.”.
However, according to Andorran police, Alvarado’s capital flow in Andorra was transferred from other members of Venezuela’s energy export network. Specifically, Alvarado received $25 million from Luis Mariano Rodriguez Cabello, commercial manager of Nevis Villalobos and Diego Salazar, Vice Minister of energy of Venezuela, and cousin of Rafael Ramirez, former oil minister and former president of PDVSA.
According to the bank’s internal documents, BPA management has opened up Alvarado’s financial network, although since 2005, former chavista has been involved in money laundering cases involving world check, a bank database used to identify political risk people (peps), This is the financial term for those who are subject to special controls to prevent money laundering because they hold public office.
In addition to being tried in Andorra, Alvarado also faces the cliff of judicial cases. The former president is under investigation in Spain and the United States. In Madrid, he was arrested in 2019 at the request of a Texas court, which charged him with money laundering and conspiracy to launder money, in a corruption case involving more than $50 million in Venezuela’s electricity company. The plenary session of the criminal division of the National High Court refused to extradite him to the United States on the grounds that the case was investigated in Spain after the PDVSA prosecution.
In addition, since 2017, Alvarado has been under investigation in the National High Court for charging a commission in the case of investigating the Asturias Duro fergra contract.