If the DISIP and the Superintendency of Banks knew in February 2009 about the raping of the banks, Chavez had to know

December 2, 2009

(In Spanish here)

This fairly lengthy document

View this document on Scribd

contains a report written in February of 2009, documenting how the Fernandez group and other related companies ran a “money centrifuge” around Banco Confederado, Banpro and bolivar Banco, whose “victims” were the “Savers” of the banks (i.e. The much beloved “People”)

This scam at the time was being run from a parallel office to the banks that was raided by the DISIP (Intelligence Police) and which concludes:

“We can infer that there exists a “money centrifuge”  among the banking entities and through a series of companies created via a parallel office of Banco Confederado…It was clearly evident the deviation of resources from these institutions approved via loans approved by the three financial institutions, which were given a use different than to that which they were approved for, this carries a very high risk as most of these resources can not be recovered, which would have as a consequence damage to the depositors and thus to the State.

From the revision made of the reports of the Superintendency of Banks, of Bancos Confederado, Bolivar and Banpro, it is evident that this institution had full knowledge of the irregularities detected at those financial institutions….

…According to what we observed, we can infer that the members of the Boards of the three banks were self-financing themselves with the objective of profiting themselves…”

Need I say more. This was February of 2009, both the Superintendency of Banks and the intelligence police knew of the fraud.

But nothing happened, damaging even more depositors and the country. Who protected them? Who has the power to stop the Superintendence of Banks and the Intelligence Police at the same time?

You be the judge, but to me, this clearly went all the way to the top.

Even worse, these people were emboldened (guapos y apoyados) to go even further and acquire Banco Canarias and Digitel, using the same methods.

This has been going on for at least two years, that is how these people bought the banks to begin with. They used depositors money. As simple as that.

It is the raping of the country by the robolution with the approval and consent of the Autocrat, Hugo Chavez, himself.

(The documents are long and detailed, I will look at them and report on the details if there is something of interest)

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36 Responses to “If the DISIP and the Superintendency of Banks knew in February 2009 about the raping of the banks, Chavez had to know”


  1. […] Rangel also joined the chorus suggesting this is all a conspiracy against Chavez. Apparently, he has not seen the DISIP report last February which said the Superintendence of Banks knew that some of the intervened banks were being used as a […]

  2. m_astera Says:

    Impartial, there is another possibility for Arturo that you didn’t list:

    4. You are being paid to post here.

  3. m_astera Says:

    Has anyone else noticed that there is a whole lot of truth coming out lately?

    I’m not just talking about Venezuela. The whole carbon trading world tax scheme is collapsing. Plenty more, but that’s a pretty good poster child.

    It would be rather fun to have the whole world’s lies and pecadillos laid bare for all to see. Are you ready? How’s your closet looking?

  4. Virginia Says:

    If you want a society where people are guilty until proven innocent……

    The only society worth having is one where a Supreme Leader declares (publicly time and time and time again) that about half of the population of the country are guilty of being ‘golpistas’, ‘apatridas’ ‘desestabilizadores’ and liars, that they are “the enemy’ and should be ceaselessly harassed, without any need to prove anything.
    Let us thank him for our food.

  5. island canuck Says:

    The 3 new banks intervened with closed doors are:

    Central Banco
    Bankinvest
    Banco Real

    I have a feeling this is not the end of the closures.

  6. Impartial Says:

    Arturo,

    There are three reasons why you may be defend Chavez:
    1. You are a lawyer and proritize the rule of law (i.e. due process) above everything;
    2. You are in it so you are coming here to justify your robbing the country blind;
    3. You are too stupid to see the obvious.

    I conclude:
    1. You cannot be a lawyer. Your comments lack the basic legal principles;
    2. You cannot be in it, you would not have the time to come in here and write. After all, these people are doing it full time.
    3. Well, you get the picture.

  7. Gringo Says:

    Arturo:
    If you are saying that investigations against certain government people will never prosper?
    That is precisely what I am saying.

  8. Arturo Says:

    Graingo – Wilmer Azuaje’s accusations and denuncias against the Chávez family in Barinas have simply not prospered for lack of evidence. There have been four investigations and nothing has been proven and no solid evidence uncovered. I suggest you find another conspiracy theory to play with.

    If you are saying that investigations against certain government people will never prosper? Are you implying that they should simply be condemned out of hand based on hearsay, rumors and attacks by political enemies? I sincerely hope not because that could suddenly apply to anyoneand innocent people could be incarcerated. Is that what you are proposing based on your irrational hatred of the Chávez family?

  9. Arturo Says:

    dillis – of course I’m in Venezuela. Why would I be anywhere else? BTW – the situation is even calmer today after the measures taken by the Executive and the approval of such measures by the Asociación Bancaria and the Consejo de Bancos.

  10. Gringo Says:

    Arturo:
    George – so let’s have an investigation but not condemn people out of hand.
    Like the investigation into the Chavez family owning how many thousands of acres/hectares in Barinas. Yeah, right. After all, it’s easy to buy a thousand of acres every year on a schoolteacher’s salary.

  11. Arturo Says:

    George – calm down. I am not saying that Fernández and others should not be investigated. You know that your comparison with Google does not mean squat in terms of uncovering what has been happening with the banks but to pacify you let’s accept that you are 100% right.

    If you want a society where people are guilty until proven innocent then wish you were living in Stalin’s Soviet Union or in Cambodia with Pol Pot. I am just amazed that you continue to bang on about irrelevant comparisions. And please stop name calling it reveals a totally immature streak in your personality.

  12. Lemmy Caution Says:

    I have a question: What do you think the bulk of the dollars changed in the paralel market is being used for? To get money out of Venezuela? Is it an indicator for capital flight?

  13. Arturo Says:

    It looks as if others are running scared now that Fernández will have to face the music. http://economia.noticias24.com/noticia/12368/pedro-torres-alcanzo-un-acuerdo-para-entregar-cuatro-empresas/

    George – so let’s have an investigation but not condemn people out of hand. I’m sure you would be kicking and screaming if Ledezma were “guitly” for the massacre of the Retén de Catia before the investigation is completed and he has stood trial?

    Your comparison with Google is pathetic. It’s apples and oranges. Fernández is one shareholder; Google has many thousands if not millions now.

  14. moctavio Says:

    Chavez is great, Chavez is good, let’s us thank him for our food.

  15. Arturo Says:

    Sure Isabel, insult all you want. Condemning people out of hand is a sure fire way to create a better society. Is “guilty until proven innocent” your motto? That’s how it sounds. I guess you admire the Soviet show trials under Stalin.

  16. island canuck Says:

    The president of Banco Canarias has fled the country in his yacht.

    What a surprise. Why wasn’t this AH in jail?

    http://www.noticias24.com/actualidad/noticia/124203/cicpc-confirma-que-alvaro-gorrin-presidente-del-banco-canarias-de-fue-del-pais/

  17. Isabel Says:

    Arturo you are a moron, you are now down to stupid technicalities. “Inadmissible”, there is nothing here about admissability it is about denial and corruption and cover up. The document was right. I can hear you in five years “but a judge has never convicted Fernandez Barruecos”. Sure Arturo, go away, you are a pain in the behind and I repeat, a moron.

  18. geha714 Says:

    Look like Arturo will be the new resident troll.

  19. Arturo Says:

    George -thanks for you explanation. If you are correct about a draft documentI stand corrected.

    I also agree that if the regulators can be shown not to have done their job, they should also be jailed.

    ErneX – so Chavez is “guilty” by association. Hmm…that will not stick but only in trial by media. Chavez also praised Acosta Carlez and Baduel many times as wellas Didalco Bolívar. So what? Saltaron la talanquera.

  20. dillis Says:

    ‘The system is now calmer; the public is calmer’

    Arturo, are you actually in Venezuela? have you been to any bank this week? Do you speak to people?

  21. moses Says:

    Is Fernandez Berruecos really in jail (Disip, Dim or whatever )? Or has he been taken out of the country and is now in Panama as mentioned in Noticiero Digital ?

  22. Robert Says:

    I know this sounds too simple to be true, but could the ladrones have started the process “getting out while the getting is good?” Meaning the government including chavez reading the tea leaves and recognizing the end is near?

    Step one: put whatever you can scrounge together in a bank, step 2: your buddy that owns the bank, cleans it out; step 3: repeat for all zombie banks; step 4: leave the country

  23. island canuck Says:

    Parallel rate, as of this morning, rose another 9.9%.

  24. Robert Says:

    Didn’t we read in this same blog that government was still depositing money in these same banks as recently as September? (funding the robolution!)

  25. hasta la vista, baby Says:

    Arturo, Last night on Dando y Dando there was some …, if you can’t tell propaganda from reality, you have another thing coming

  26. Aristo Says:

    Ahora hasta Bocaranda cita al Diablo. La semana que viene seguro que JV se anota también.

    ¡Te estáis haciendo famoso! Sigue con tu buena labor.

  27. ErneX Says:

    Oh and I’m seeing way too many spin doctors around here in the comments lately, they must be getting worried/desperate.

  28. ErneX Says:

    Arturo you seem to miss or blatantly ignore the sheer evidence that not only this banker was in Hugo’s inner circle (Chavez praised him once in Alo Presidente) but the other evidence of the other people close to some ministers who have accumulated wealth (including banks) under the support of the revolution.

    So you saying that Chavez is handling this like a true champ, that this is different than the 4th republic, it’s either a shameless attempt at covering this up or your are simply too naive to get a grasp of WTF is going on

  29. moctavio Says:

    Chavez is great, Chavez is good, let’s us thank him for our food.

  30. Arturo Says:

    I note that the document you published is a “Borrador”. Did a “borrador” get presented to Sudeban or was it held back by the DISIP?

    Last night on Dando y Dando there was some diputado being interviewed and he put a completely different light on this matter. He made the point – several times – that the deposits in the four banks in question were less than 4% of toal deposits in the banking system.

    This “crisis” has now taken a turn where is ceases to be about 4 banks in trouble and now it is directed by the media (look at Ismael’s shameful performance on Globo yesterday with Matacura) to wound the government.

    This will fail. The system is now calmer; the public is calmer; bankers willbe taken into custody and people will feel that Chavez is dealing withimpunity – which did not happen in 1994.

    Let’s wait and see but itwas the bankers stealing which caused these problems whatever the borrador says. And it still is a borradorand not an officially presented document which makes it inadmissable.

  31. island canuck Says:

    I think that this indicates just how bad the system is & that Chavez thought he could sweep it all under the carpet so that it wouldn’t become a political problem. He finally had to act when he couldn’t hide it any more.

    Now the spin machine is running full out. Who can I blame?

    The problem is much bigger & worrisome than they are telling us.

    The president of one of the few solid banks in the country says that Chavez is hiding the details of the banking situation.
    http://www.noticierodigital.com/?p=63501

    Hold on to your hats.
    We are in for a very rough ride. Buy hard currency.

  32. ErneX Says:

    Rafael Vicente do you really believe what you just said? I have a bridge I’d like to sell you in that case.

  33. mrodriguez26 Says:

    I’ve read all pages of document and is amazing that things like that were made without any intention of government by punish all banks and institution involved at it.

    Now I question, if this was happening at least the last two years ago, and in February was released this document by DISIP to some authorities of government, Why was now (November) and no before or the next year that this explode out? I mean, what happen inside the government that just pull the trigger and now this guy RFB fall at jail, and why only he and not all the people named in the document are under jail.

    This kind of question is what everybody wanna know, but maybe will not be answered by any one government official, because all they are in this corruption’s Hole.

    There’s no way to trust in this government by anything reason, Investors know that, other country knows too, but many people at Venezuela, still believes in the rojo rojito.

  34. moctavio Says:

    Guinand, those were the original owners of Confederado

  35. Rafael Vicente Says:

    Señores esto se creo con el apoyo de personeros de Alto Gob., no para perjudicar a los ahorristas, no ese creo para apropiarse de los dineros del estado, es decir el dinero de todos los venezolanos, es premeditado y planificado, claro los que pierden son los incautos depositantes que cree en la buena fe de los banqueros.

  36. A.Guinand Says:

    Miguel, quienes son esos ciudadanos con nombres arabes en el documento?

    Arepera “La Centrifuga”


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