May 2018

Why is DoJ not taking over PDVSA US Litigation Trust's case?

The Department of Justice should activate established cooperation channels with the Swiss, and make sure that evidence of rampant corruption related to this case cements other ongoing probes. DoJ should exploit the opportunity presented by Boies' decision to get in bed with the likes of Wilmer Ruperti. It is a gift. The actionable intelligence that could be gotten, put to good use, can help remediate one of the hemisphere's worst humanitarian and political crises.

Derwick bribes keep flowing into Venezuela's oil & gas Alek Boyd Thu, 05/24/2018 - 10:48

There's been a few developments in Venezuela's oil sector that have gone under the radar. One of them is related to one of Derwick Associates: Francisco D'Agostino. The other involves Petrozamora, the PDVSA - Gazprombank joint venture where Derwick Oil & Gas is a partner.

Diosdado Cabello sanctioned by U.S. Treasury: how about his American proxies? Alek Boyd Sat, 05/19/2018 - 08:00

The U.S. Treasury Department finally sanctioned Diosdado Cabello, chavismo's most powerful man. Two of Cabello's proxies have also been sanctioned: Rafael Sarria and Pedro Luis Martin.

Payback Wilmer Ruperti's style

There's something rotten about PDVSA US Litigation Trust's legal adventures. If complaint filed by David Boies in a Florida court is to be believed, PDVSA entered into an agreement in July 2017 with Boies' law firm, tasked with suing 49 co-conspirators (Morillo, Baquero, Helsinge, Trafigura et al) in a fraud scheme said to have cost over $5 billion. The Engagement Letter, that set the conditions governing the parties' division of (possible) proceeds, remains hidden.

Was Wilmer Ruperti involved in Goldman Sachs hunger bonds purchase? Alek Boyd Fri, 05/11/2018 - 06:30

Further to previous post on Burford Capital and Wilmer Ruperti, the affidavit from Benjamin Patrick Ogden has some interesting details about Ruperti's web. Given that most of the information contained in it comes from a disgruntled Ruperti employee, it merits the sort scrutiny that this site regularly provides.

What is Burford Capital doing for Wilmer Ruperti? Alek Boyd Wed, 05/09/2018 - 11:15

Readers of this site will know that Wilmer Ruperti is a topic of interest. To cut it short, Ruperti went from being a “tanker master”, to become the go-to-guy for all of PDVSA’s shipping needs. Quite a feat, assisted (as per Ruperti’s own claims) by Ali Rodriguez and Rafael Ramirez. In the process, of course, he made a fortune.