Ambassador Willy Cochez, referring to individuals close to the supposedly illegitimate regime of Nicolás Maduro, made an interesting comment on his Twitter account: «I am offering my services as a lawyer to recover the assets and $ of Venezuela that those hypocrites and boliburgueses brought to Panama.» (sic)
In a similar vein, Ambassador Cochez made another statement: «When the new government requests information regarding accounts and properties here, Panama’s judicial authorities will cooperate. I will ensure that this happens» (sic)
It would be wonderful for Venezuela to have a government in the future that investigates the numerous corruption cases that have occurred since the caudillo Hugo Chavez came to power in 1998, without fear of political consequences. Corruption not only increased exponentially, but the ill-gotten fortunes during the chavista era reach figures that are impossible to ignore. Corruption in Venezuela is a many-headed monster that infiltrates every corner and blurs political lines. What’s saddening is that Venezuelan society does not seem to view corruption as a problem, but as an opportunity.
Consider a recent case: the revolutionary “businessman” Ricardo Fernandez Barrueco. He went from parking cars in his father’s lot at the Hilton Hotel in Caracas to owning over 250 companies and accumulating a fortune that surpassed 1.6 billion dollars in 2006. This transformation took him fewer than 10 years. How can such wealth be explained without mentioning the illicit context? Let’s look at another case: Derwick Associates, a shell company founded by a couple of twenty-somethings, went from being office boys to receiving 12 state contracts in Venezuela—without bidding—for the installation of thermoelectric plants in just 14 months, yielding profits that could exceed 1 billion dollars. One billion dollars in 14 months—not bad, right?
Both Fernandez Barrueco and the executives of Derwick Associates (Alejandro Betancourt and Pedro Trebbau) registered companies in Panama, where designated front men obscure the identification of the true owners and the scrutiny of the companies’ activities. The anonymity provided by offshore centers is one of the most valued services, as no accounts are declared, no taxes are paid, and there is no way to find out (unless the authorities of a certain country intervene) if the money flow stems from legal activities.
The issue is that Fernandez Barrueco and the “bolichicos” of Derwick Associates are not the only Venezuelans “operating” in Panama. Practically all the white-collar criminals who have amassed illicit fortunes in Venezuela over the past 14 years either have a presence in Panama (banks, brokerage houses, etc.), or have used the Panamanian financial system, or possess companies registered in Panama that allow them to operate with complete impunity.
Ambassador Cochez says he is willing to assist when a new government requests information. But what if that new government never materializes? What if Henrique Capriles does not come to power? Shouldn’t the boliburgueses hiding their fortunes in Panama, or using Panama as a giant money-laundering machine, be investigated by Panamanian authorities regardless of whether a hypothetical Venezuelan government requests information?
In addition to Ambassador Cochez’s offer, I would like to make another: as an investigative journalist with over a decade of exposing corruption cases in Venezuela, I am available to Panamanian authorities to identify and investigate Venezuelans who have used Panama to legitimize funds obtained fraudulently.
Panama does not need requests from Venezuela to prevent its financial system from being used to launder Venezuelan money. Panama does not require Venezuela’s involvement to safeguard the integrity of its financial system. Panama does not need Henrique Capriles to show the world that it takes international norms against money laundering seriously. All it needs is the political will of the Panamanian authorities. It remains to be seen if such willingness exists.
In any case, I would like to state Ambassador Cochez, here you have a collaborator who is more than willing to get started on this task as soon as possible.