When the International Consortium of Investigative Journalists (ICIJ) started publishing reports about the overseas connections of the world’s elite, the over $500 million Ponzi scheme orchestrated by Francisco Illarramendi came to light. One of the individuals involved, the ‘banker’ Moris Beracha, disagreed with ICIJ’s coverage, claiming that they “did not conduct proper investigative journalism and ignored the information” provided. Beracha was indeed correct; the Illarramendi case had already been in the news for some time, and ICIJ offered no new insights. Furthermore, there’s a significant conflict of interest at play: both Moris Beracha and David Osio, also implicated in the scheme, have been clients of FTI Consulting, which is tied to the trustee. Beracha’s response caught me off guard, so I reached out to him on Twitter. To my surprise, he replied below our exchange so far.
From: [email protected]
Subject: Reff diego arria.
Date: April 12, 2013 17:07:24 BST
To: [email protected] undefined
Reply to: [email protected]
My name is Moris Beracha. My good friend Diego Arria told me he is a good friend of yours and wants to introduce us. As you know, he is very busy in Venezuela with the upcoming elections this Sunday.
I’d like to introduce myself; as Diego can confirm, I am a businessman who has been operating in the financial market for 25 years.
I had a brokerage in New York from 1989 to 2003 called Westfalia Investment and a brokerage in Venezuela since 1990 called Bestinvest.
I assure you that I am a very honorable person who always conducts my business with transparency and adheres to the rules and regulations of the markets I participate in.
I have been attacked by some media and journalists in Venezuela, who write a lot of false arguments, most of which are unfounded, with the sole aim of extorting money, which I never accept. I have always believed in never dismissing a lie simply because it is just a lie.
Regarding the Illarramendi case, my letter responding to ICIJ is entirely truthful, and I genuinely do not understand the dark intentions behind publishing something that is a lie and does not include the information I provided.
I would be more than happy to have a conversation with you at your convenience, requesting that this personal email remain off the record. My only intention is for you to really know who I am and about the aberration of this Illarramendi case, in which I am a victim of fraud.
I just wanted to reach out, knowing that Diego will be extremely busy until Sunday.
So I look forward to seeing or talking with you whenever you deem fit.
My email address is [email protected].
All the best
Sent via BlackBerry by AT&T
From: Alek Boyd
Subject: Re: Reff diego arria.
Date: April 20, 2013 09:50:54 BST
To: [email protected]
CC: [email protected]
Dear Mr. Beracha,
Thank you for reaching out and please accept my apologies for the delay in response.
First and foremost, I must clarify that for nearly a decade of blogging about Venezuela, extortion has never been a motivation. Those who know me well can vouch for my integrity, which is unassailable for anyone who has navigated the moral quagmire that is Venezuela.
Secondly, I’ve spent years investigating, cataloging, and writing about corruption in Venezuela. In that regard, I take pride in having exposed several individuals: Eva Golinger, the Venezuelan Information Office and their paid hacks, Smartmatic, North American Opinion Research, Majed Khalil, Gemalto, Williams – PDVSA agreement, Petropar, Marcelo Barone, and more recently, the thugs running Derwick Associates.
Thus, I am sure you understand my keen interest in the Illarramendi case, in which you seem to play quite a significant role as Illarramendi’s favored intermediary. I have studied nearly all related materials and can ascertain that, in fact, you participated in operations that were not strictly kosher. This has led me to further investigate your companies, connections, and business partners, such as David Osio (another focus of my investigations). At this stage, I am gathering information and reviewing claims/companies/etc. that I will later process and publish.
You claim to be a very honorable person. As an honorable individual myself, I assume you have nothing to hide, so I would like to send you, with your consent, a series of very detailed questions regarding your business structure, operations in different jurisdictions, associates (both local and international), returns, and relationships with Venezuelan PEPs. Basically, what I am trying to determine is whether you may have unknowingly collaborated in the diversion of funds from Venezuela, money laundering, organized crime, and complicity with wanted individuals.
Your cooperation in this matter would be greatly appreciated, as I am in the process of writing a book about the legacy of Hugo Chávez, in which the “boliburguesía” will be a central theme.
Best wishes,
alek boyd
From: [email protected]
Subject: Re: Reff diego arria.
Date: April 30, 2013 14:17:18 BST
To: «Alek Boyd»
Reply to: [email protected]
Dear Mr. Boyd,
Thank you for your response and for noting that you are also an honorable person. First, I can assure you that all my business operations are clean. It is not accurate to label my operations currently under investigation as “not strictly kosher.” All my transactions are legitimate and have always adhered to the regulations of the country in which they were conducted.
Regarding the set of questions you mentioned, at this moment, I cannot provide any further documentation. I have nothing to hide, but my legal counsel advised against making any new statements, as it could affect the ongoing investigation. This is a very complex case requiring thorough investigation and unbiased evidence gathering. My sole resolution is to clear my name of any grim accusations and regain the peace that has deeply affected not only me but also my wife, children, family, and friends.
On another note, I can give you two brief responses about your comments in the last email. Regarding Mr. Francisco Illarramendi, everything I have to say is now public and can be found in interviews conducted over the past months.
Regarding David Osío and Davos, I can only say that Mr. Osío has never been my business partner. We have never done any business together of any kind, with Davos or any other company. Moreover, the mention of Davos in the case currently under investigation is not directly related to me. The next steps taken by the court will demonstrate that I am telling the truth. I am confident that you will not find any transactions with Davos that have any connection to me, simply because there are none.
I regret not being able to say anything more, but the most important thing right now is the satisfactory progress of the case.
very tru
Moris Beracha