Archive for March 11th, 2011

Pension Funds: The Same Story by Teodoro Petkoff

March 11, 2011

Pension Funds: The Same Story by Teodoro Petkoff in Tal Cual

In the scam with the Pdvsa Pension Fund, there are several things you can say that are perfectly clear.

First, Mr. Francisco Illarramendi managed the fund at will and was caught red-handed, getting rich with the money of the workers of PDVSA, which he managed anyway he wanted.

Second, thus, “Gordo” Illaramendi managed the Fund by appointment of Rafael Ramirez, thus, this gentleman knew everything.

Third, PDVSA workers, contrary to the lies of the capo of PDVSA, had no art or part in managing funds that were theirs. They could not exercise any supervision or monitoring of the dirty dealings that were taking place with their money. If it were not for the gringo institutions, who discovered the fraud, PDVSA workers still would not know anything. Fourth, while in the US there is an investigation and an open trial on the robbery to the Pension Fund, here in Venezuela from Chavez to Ramirez the issue is ignored, as if it had nothing to do with them. Just like what happened with the case of the “Gordo” Antonini Wilson. Trial and sentencing in the U.S., open trials in Argentina, but here, outside of a discrete forced retirement of Mr. Uzcategui, PDVSA’s principal passenger on the plane and veteran scammer with Argentina, the thing was covered up. Now, of course, they attempt to apply the same technique. Look the other way and let “Gordo” Illarramendi defend himself, hanging on a wire, like they left Kaufman, Duran and company in the scam from the suitcase. You can steal, but at your own risk. If you are caught, don’t count on your government accomplices.