Venezuela: Central Bank transfers $2 billion sovereign bond to Tony Caplin / Kellmar Limited

Daniel writes in to say that I should provide a bit of an explanation for why this should be a scandal. I guess that the reason would be that it is simply not normal for a Central Bank, to transfer free and clear, ownership of a sovereign bond, worth $2 billion, to a recently formed limited company with a share capital of £2,000, managed by an individual (Tony Caplin) who appears as inactive in the Financial Services Authority register.

[Read UPDATE] Some context of actors provided to facilitate further investigations in respective jurisdictions.

Banco Central de Venezuela (BCV): Venezuela's Central Bank [link].

Nelson Merentes: Current President of BCV [link].

Eudomar Tovar: First Vice President of BCV [link].

Kellmar Limited: Isle of Man registered, £2,000 limited company [link].

James Ellwood: Director of Kellmar Ltd [link]. Board member of Momentum Pensions Ltd [link].

Anthony Lindsay Caplin: a.k.a. Tony Caplin [link]. Former Chief Operating Officer of the Conservative Party [link]. Formerly with Panmure Gordon [link]. Director of Kellmar Ltd since 29 March 2011 [link]. Current Chairman of North West London Hospitals NHS Trust [link]. Current member of the Medical Research Council [link]. Current Commissioner of the Public Works Loan Board [link]. Currently inactive -as individual AXC01538 - Anthony Lindsay Caplin- according to the Financial Services Authority register [link].

Ramon Carpio Carvajal: Vice President of International Operations of BCV [link].

Ira D. Pruitt Jr: Attorney for Kellmar Ltd and Tony Caplin [link].

Rosallyn Hazelle: St. Kitts & Nevis Ambassador and Permanent Secretary Industry, Commerce, and Consumer Affairs [link].

Credit Suisse [link].

Sovereign Bond: Bolivarian Republic of Venezuela, 9.250, 07/05/28, ISIN USP17625AB33, common code 036133678 [link].

Venezuela: Congressman Carlos Ramos questions Williams F1

Congressman Carlos Ramos is now turning his attention to Frank Williams' F1 team. PDVSA, the Venezuelan oil State conglomerate, is sponsoring the Williams F1 team. No one in Venezuela -apart from a handful of chavistas- knows how many millions have PDVSA promised and disbursed to Williams F1 team. In any case, according to Venezuelan legislation, no public monies can be committed to any such projects without the approval of the Venezuelan Congress. Neither Hugo Chavez, nor PDVSA, can unilaterally spend public monies without oversight or approval. Therefore the contract between PDVSA and Frank Williams F1 team may well be illegal, as there's no record of the contract ever having been discussed, or approved, by people's representatives in Venezuela's Congress. We shall see whether Williams F1 team replies now, to an official request for a copy of the contract for an ongoing investigation in Venezuela's Congress.

According to previous local reports in Venezuela, starting in 2010, Frank Williams F1 team could have gotten either £110.5 millions, £138.14 millions, or £154.7 millions from PDVSA depending on exposure of PDVSA / Venezuela logos in Williams F1 car and drivers' livery.

Tomorrow, I shall be sending via recorded delivery a copy of this letter to Claire Williams.


UPDATE: copy of Congressman Carlos Ramos letter was received in Williams F1 office in Grove on 18 November, at 08:47, according to Royal Mail.

UPDATE II: Claire Williams has replied to Congressman Ramos' communication, 18 November 2011 16:15:24 GMT. We are preparing a reply, to be posted here soon.

Venezuela: Congressman Carlos Ramos questions Williams F1 - PDVSA contract

Gemalto notified of Venezuelan Congress investigation

The letter from Congressman Carlos Ramos to Isabelle Marand, VP Corporate Coomunications at Gemalto, was delivered to her office in 6 Rue de la Verreine, Meudon, in France, on 7 November 2011, according to La Poste:

Congressman Carlos Ramos is now to seek collaboration from Dutch and French congressmen/women to force an answer from Gemalto, which to this day, has refused to even acknowledge communications sent by Congressman Ramos or myself.

It is evident that this failure / refusal to answer a set of simple questions by whoever is in charge of PR and communications for Gemalto, it would appear to be Ms Marand, is indicative that Gemalto could have something to hide. Given that the company is registered in France and Holland, and the fact that it is a public company, it will be interesting to see whether their alleged operations and earnings in Venezuela, through a fully owned subsidiary in Mexico, are legitimate and have been properly declared.

Congressman Carlos Ramos questions Gemalto

Fortunately, somebody in Venezuela is paying attention to the investigations carried out in this blog. The letter below, from Congressman Carlos Ramos (same one who made public the $29 billion hole in FONDEN), addresses some of the issues about the contract between Gemalto and a dodgy Cuban intermediary without track record, for the provision of electronic IDs to Venezuela. I will make sure that a copy of the letter is received and signed for by Gemalto. Considering that a Venezuelan Congressman is asking the questions, maybe Gemalto will have to answer.
Congressman Carlos Ramos questions Gemalto

Hugo Chavez free of cancer?

Despite his preposterous claims of having gotten rid of a mysterious cancer, presumably at the hands of voodoo Cuban medicine, Venezuelan dictator Hugo Chavez is looking very bad indeed, as this recent picture shows. Chavez appears bloated in the face and behind ears.

The picture tell a different story though. Considering that Chavez, who's been unable to keep any of the promises and declarations he has made in the last 12 years, is the sole source of the late announcement, one can only conclude that declaring himself free of cancer is just another baseless and inaccurate statement of the dictatorial caudillo, and just the contrary may be taking place.