A Priceless Detention Order Related To PDVSA Graft

December 21, 2015
View this document on Scribd

The above detention order is simply priceless. I can only imagine how, Cesar Batiz, Setty and Alek Boyd feel when they read it. They pioneered the subject and went after these people relentlessly. They are now reaping the fruits of their labor.

My understanding is that the indictment of Rincón itself is sealed, but the detention order and the Judge’s reasons for not giving bail are simply priceless.

To wit:

-Defendant Rincon-Fernandez (Rincon) is a Venezuelan national charged with violating the Foriegn Corrupt Practices Act and conspiring to launder money.

-The indictment charges that Rincon and his co-defendants set up several schemes to obtain contracts with PDVSA. In al schemes bribes were paid to PDVSA officials to get Rincon affiliated companies on the short list of companies which were entitled to bid for PDVSA contracts.

-Rincon also bribed individuals to put non-competitors on the short list.

-The investigation covered 730 bank accounts (how many do you have?), of those, 10% were realted to Rincon, his family and his companies. The indictment seeks forfeiture of three Swiss bank accounts. While the government has traced $100 million from the scheme into those Swiss accounts, it can not trace outgoing funds due to Swiss banking law secrecy.

-From 2009 through 2014, over one billion dollars was traced to this conspiracy. Of that amount, $750,000,000 was traced to Rincon between 2010 and 2013.

One billion dollars!!!

And I note that during at least part of this period:

Chávez was alive and President of Venezuela!

Rafael Ramirez was President of PDVSA!

Jorge Giordani was both Minister of Finance and Planning and a member of the Board of PDVSA!

Luisa Ortega was prosecutor!

And during all this time, there were many denunciations of this corruption and NOBODY in Venezuela did anything, including Chávez, Ramirez, Giordani and Ortega.

What will the last three say now?

Chavismo is simply too much…This is stuff of movies and fiction, live from Bolivarian Venezuela…

And here is the arrest warrant, released the next day

View this document on Scribd

19 Responses to “A Priceless Detention Order Related To PDVSA Graft”

  1. JAU Says:

    The clock must be ticking on the bolichicos, Khallil Majed and many others.
    Cant wait!

  2. Ramón Says:

    Recuerdo que el año pasado me quejé por los copos de nieve que caen sobre las líneas que estoy leyendo en este blog y usted los quitó. Este año no me molestan tanto, no sé por qué. Sigo pensando en cualquier caso que, por muy en navidades que estemos, es una muy mala idea de diseño gráfico ponerle nieve a una pantalla.

    Muy buena por cierto la cita de Tocqueville en el post anterior. Todos esos ejercicios de política-ficción me parecen más bien inútiles teniendo en cuenta lo a ciegas que vamos todos y lo muy rápidamente que puede llegar a cambiar el panorama pero sin duda a muchos otros les gusta este tipo de cosas.

    Buena suerte para usted el próximo año y sobre todo, buena suerte para Venezuela. En principio todo indica que seguirá hundiéndose en su agujero y tendrá entonces muchas cosas que contarnos en el 2016 pero entiendo que, gracias a este viaje hacia abajo encontrará finalmente el fondo del pozo (teóricamente no existe pero en la práctica siempre hay uno) y podrá entonces subir otra vez hacia arriba. Esperemos que cuando esto ocurra la sociedad venezolana haya aprendido de una vez lo que significa el populismo y camine entonces hacia adelante de un modo más adulto y realista.

  3. Juan largo Says:

    AsI mentioned elsewhere, Rincon must be admired – in a sad, sinister way – for the sheer audacity of his price gouging, hawing 112 million dollars worth of turbines for 252 million. But as disclosed in documents in Alek Boyd’s blog some months ago, the fine print on the acquisitions order states that 7 or the 11 turbines were “used” or “refurbished.” In fact it might be, on close inspection, that Rincon off-loaded a pile of junk not remotely worth even the 112 million mentioned by many sources as the baseline value of said turbinos. More confusing is that the turbines were in the Boyd article attributed to Derwick and their band of negocios, whereas others list Rincon as the culprit. Because Alex pretty well nailed Derwick for selling the selfsame turbinos twice, it may be Rincon got in the play and sold them a third time over. One wonders if there ever were any turbinos to begin with, and if so, how are they holding up, especially the “used” ones.

    • Bill Says:

      Most of the turbines and Gen sets have never been commissioned. All of the money was used to purchase the equipment and none was left for building the construction zones or bringing in service reps to install and commission the equipment.

  4. Reblogged this on How to s..t on humans and commented:
    Excellent post about corruption in Venezuela.

  5. A Rivas Says:

    I can’t wait for the MOVIE!!!!

  6. Boludo Tejano Says:

    Chavismo is simply too much…This is stuff of movies and fiction, live from Bolivarian Venezuela…

    Yes, indeed. Truth can be stranger than fiction. A roman à clef , made up from news reports or blog postings, will be the best chronicle of the Chavista era, as a straight history would be discounted as unbelievable.

  7. I may have to schedule some vacation time to watch some of the trial. Can’t wait to see Ovarb, et al try to explain themselves.

  8. Lee Kuan Yew Says:

    “The investigation covered 730 bank accounts (how many do you have?), of those, 10% were realted to Rincon, his family and his companies. ”

    Amazing. And this is just 1 man. How many dozens or more are almost at that galactic level of embezzlement? And how many hundreds steal just a few Millions of USD? How many Thousands steal hundreds of thousands of USD.. How many Millions (About 4 million enchufados in the 32 ministries) steal thousands of $ every year.

    It’s trickle-down Robonomics in Kleptozuela: from Cabello, Cilia and the Derwicks and Ramirez and Rincon, all the way down to the poor bachaquero. With everyone in between also con las manos en la masa: contractors, sindicaleros, at every level. Massive corruption has metastasized everywhere in Vzla, it’s part of the very social fabric now. Cancer to the bone of the nation, every cell, every organ.

    Public and Private sectors alike. Not just the Chavista Regime, the Military, the Police and the TSJ. Everyone, everywhere, with relatively few exceptions, are complicit in one way or another. And just wait for the MUD to get their chance at El Coroto now..

    You see, 730 bank accounts require a LOT of people. Countless bribes. At every level, from small bank tellers, to VP’s of large companies. It requires Rincon’s entire Family to be complicit. All thieves, all crooks, all rich. (except perhaps 1 or 2 honest people, maybe). The entire Family, and Friends. All corrupt.

    That’s the main reason Vzla is where it it. And we keep talking about “Professional Ineptitude”, debating Macro-Economic theories to save the day..

    If only there was a little bit of Justice and accountability in Kleptozuela, the economy would be fine, with just a couple of tweaks.. If only they did not steal every penny, every oil barrel until 2050, or whatever, sold to the Chinese. Stolen. If only they stole like they steal everywhere else in Latin America, with some moderation, in Mexico or Brazil, where they steal a lot, but not every penny, everywhere, all the time. Or much better, Chile or Costa Rica, where there’s also corruption, but with some justice and some control. Vzla would be just fine.. If they only stole Trillions, like Ad/Copey did for 40 years, Vzla would be ok.

  9. linksor64 Says:

    Enviado desde Samsung Mobile

  10. Glenn Says:

    If the elections lead to a more free press in Venezuela, this should be one of the first headlines. And of course the new Venezuela prosecutor should work with the US to recover the funds and nab any other culprits, right?

  11. Boludo Tejano Says:

    From 2009 through 2014, over one billion dollars was traced to this conspiracy. Of that amount, $750,000,000 was traced to Rincon between 2010 and 2013. One billion dollars!!! And I note that during at least part of this period: Chávez was alive and President of Venezuela!

    When told of massive corruption in Venezuela, a standard PSF response for years has been “If there is corruption, then why isn’t someone arrested?”
    Looks like they will have to come up with a new response. Perhaps “The Evil Empire is picking on them because of all the good things they did for Venezuela.”

    Rafael Ramirez was President of Venezuela!a!
    I believe you mean PDVSA, not Venezuela.

    Dónde están los reales?
    We are about to find out, for at least some of them.

  12. moctavio Says:

    Absolutely right, but you know bloggers…we like each other…

    • Alek Boyd Says:

      Cesar did start with Ovarb, KCT and Derwick. While Rincon’s arrest gives me a huge amount of pleasure, my time is yet to come, when U.S. justice -guilty of exactly the same crimes- finally catches up with Derwick Associates.

  13. Steven/Setty Says:

    Well, Cesar Batiz really pioneered it. And Francisco Toro. But thanks for the love.

    Indictment should be available very soon.

    • Lee Kuan Yew Says:

      All of these courageous bloggers deserve tons of credit for their indefatigable work against corruption, and against the dictatorial regime. Corruption is the main reason Venezuela went down the drain.

      The fundamental, underlying reason Chavismo is still in power is the Interstellar Embezzlement Machine. 32 Ministries with 4 Million Enchufados, the corrupt Military, Bribed TSJ, putrid Police, Guardia Nazional, Sebin.. All greased with Petro-Dollars.

      PDVSA and Corpoelec do not work because, you guessed it, they are also corrupt to the bone. All of the Honest, educated, competent professionals were kicked out, or simply left the country. Their conscience would not allow them to work in such filthy environments. 1 Million professionals left Venezuela, in part because of corruption. Personally, that was one of the main reasons I left, being in Procurement, with people like Corpoelec (Edelca in my time) became morally unbearable. Puro Guiso.

      You can hardly run any business, honestly, in Kleptozuela without participating in numerous forms of Corruption. You must bribe people left and right, if you want to win any contract, you can’t compete sin bajarte de la mula. To remain in business and not be bullied, you must at least turn a blind eye, while you watch the corruption atrocities being committed every day. If you have a soul, it’s disgusting, you get tired of it, and if you can, you get the hell out of the country, like most readers of these blogs did.

      Corruption is also the reason the Chavista crooks do not want to give up the Coroto. They want to continue to steal as much as possible for a comfortable, luxurious retirement of their Entire families. Additionally, many are scared to death of being imprisoned overseas, and having their stolen millions frozen.

      Corruption is the reason nothing works in Vzla. Much, much more than “Incompetence” or “Ineptitude”, as many people keep saying. There is a stupid “control de cambio” with 3 absurd levels not because the Chavista economists don’t know any better, but because that’s how they can STEAL the most money. Same with the retarded “precio justo” crap.

      I could go on and on, and demonstrate that Corruption is at the root of every problem in Venezuela. There is no justice (huge problem) because the TSJ, police and military are corrupt. No laws because the Parliament is corrupt. No public works and infrastructure because all contratistas are corrupt. (Remember what Perez Jimenez built in just 5 years, with limited corruption, google it up, you will be impressed.)

      I maintain that Vzla would be doing great if only it had a semblance of separation of powers, a much tougher government, and just a little bit less corruption. Every country in Latin America has lots of corruption, but some more than others. Chile and Costa Rica, much less than Haiti and Venezuela, for instance. During the 40 years of ad/copey, they stole Trillions, but they did not steal everything, as they do today. So the country was doing ok.

      Kudos to all these valiant bloggers for their important work against Corruption, the root of all evil in Kleptozuela.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: