a) 2007 Contractual Year: Nine (9) shipments of 70,000 MT +/- 10% MOLOO each (“Panamax” size vessels).
But Hodgins own position is also interesting, considering that at the time he was meant to be working for Fortescue. Was he dealing on the side, or was Fortescue involved in the paying of bribes to Venezuelans in iron ore purchases?
As per Junhua's, well Chinese companies' corruption is rampant and very well known across the world. There is hardly a market corrupt Chinese haven't been able to crack by hook or crook.
And what to make of HSBC's Hong Kong failure to notice Hodgins own dodgy set up, and that of beneficiary of transfers, Societe Partry? In one of the emails, it would appear that at least four transfers in 2008 (dated 01/07, 01/08, 27/08 and 09/10) were made to Castellanos through HSBC (as seen in case of Mexican narcos and many other scandals, HSBC's forte is not precisely strict observance to anti money laundering regulations). In the same email, Metalloyd of London (Reuben bros) is identified as having purchased around 447 metric tonnes of FMO's iron ore between January and July 2008.
I sent emails requesting comment to some of parties involved in this corruption racket. No one has replied. Another case of rampant corruption involving high chavista authorities and foreign companies and individuals only too happy to engage in criminal activities to make a quick buck in Venezuela.