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UPDATED 26/07/2021 - A few days ago a source informed this site that Bitumina Industries Limited had filed for bankruptcy in London. We tweeted about it and put the question to the London Gazette, which kindly came back today with corroboration. What this means is that Nynas largest shareholder (Bitumina's 49.9%) is out of the game.

The problem with Venezuela is which of its realities should be prioritised. It is a country "governed" by a group of people who have a fluid stance with a kind of criminality that would make any government subject to rule of law and independence of institutions collapse. Chavismo's relationship with Colombia's narco terrorist groups (FARC, ELN, etc.) is well documented. Hugo Chavez himself was vociferous about his sympathies with the enemies of the Colombian State, and his successor is not different.

To say that I am baffled by Reuters' latest 'special report' on Derwick Associates criminal boss Alejandro Betancourt would be an understatement. It is difficult to understand the sheer dishonesty that moves a so called professional journalist, writing for one of the so called most reputed media companies, and his editors (Paulo Prada and Tom Lasseter), to the extraordinary feat of publishing over 4,000 words without citing a single original source.

UPDATED 22/06/2021 - 08:10 GMT - This site has seen emails that show that Michael Baer, also known as Michael Philipp Bär or Mike Baer, was seeking capital investment for his MBaer Merchant Bank AG in the U.S. from Francisco D'Agostino in early October 2017. So we went to the Securities and Exchange Commission (SEC) database (EDGAR) to see whether there were any records of Mr Baer, or any of the recent companies he appears associated with.

As per Reuters: "The United States, Britain and other large, rich nations reached a landmark deal on Saturday to squeeze more money out of multinational companies such as Amazon and Google and reduce their incentive to shift profits to low-tax offshore havens.

In April 2006, we wrote: "On April 11 2006, Mexican authorities seized 5.5 tonnes of high purity cocaine in Ciudad del Carmen's airport. On August 3 2005, Dutch tax authorities and the sea harbour police seized 4.6 tonnes of cocaine in Rotterdam, the largest ever haul in the Netherlands. On October 13 2005, Spanish police seized 3.5 tons of cocaine in a fishing boat bound for Spain. On September 16 2005, 691 kilograms of cocaine were seized in the Tuscan port of Livorno, Italy.

Every journalist / media outlet out there is partial to its causes. When it comes to corruption, and specifically to graft in resource rich countries, there is little that is not known, that is doesn't form part of an ever evolving narrative particular to the field. Every person remotely acquainted with large scale corruption would have heard (by now) about Russia, Nigeria, DRC, Odebrecht in Brazil, China, Panama Papers, FIFA, Switzerland, London, Daniel Ortega, the Kirchners, HSBC actively helping Mexican narcos launder money, David Cameron and Greensill, Rudy Giuliani, Donald Trump...

Thugs involved in theft of public funds are always trying to whitewash their image. In the case of Venezuela, every last Boligarch 'entrepreneur' portrays himself as the wealthy offspring, or trust fund baby, from some 'rich family'. As if there were any family that has become *that* wealthy *legitimately* since chavismo took power in 1999. A good case study is Derwick Associates. Those thugs have spun some fantastic tales since 2009 about them being scions from ultra high net worth parents.