Connect with WINN FM

Unit C24, The Sands Complex
Newtown Bay Road, Basseterre, St. Kitts, W.I.

Venezuelan Pensioners Facing Losses In US Fraud

(AP):  HARTFORD, Connecticut—Some Venezuelan pensioners are telling US prosecutors they have not been able to next day viagra get back money put at risk by a massive Connecticut-based fraud scheme, which has exposed investors to losses totaling potentially hundreds of millions of dollars.

The biggest investment client of cialis no prescription Venezuelan-American financier Francisco Illarramendi was a pension fund for state oil workers in the South American country. In a statement sent to federal prosecutors in October, a number of people wrote that they have not been compensated for their losses by their former employer or the Venezuelan government, according to a court filing.

Illarramendi, who ran unregistered hedge funds out of offices in Stamford, Connecticut, pleaded guilty last year to several counts of fraud and tramadol cheap no rx free shipping conspiracy to obstruct justice in a scheme to conceal huge losses. He is under house arrest in New Canaan while awaiting sentencing in January. Authorities have said losses in the case could exceed US$500 million.

Receiver John Carney, who is seeking to interdisciplinaryscience.net recover the buy now levitra payments for fraud victims, said in his last update to the court in July that the funds associated with the fraud had estimated liabilities of nearly US$2.2 billion and estimated assets of only US$760 million, the vast majority of them in potential litigation claims. Carney did not respond to a request for comment.

Venezuela’s government also has said it is tramadol 150 trying to recover what it can from the retirement fund for the oil company, Petroleos de Venezuela SA, or PDVSA.

The pensioners’ statement was described in a motion asking the court to forbid Illarramendi from disclosing the pharmacy quality tramadol identities of buy cialis no prescription required the people who signed it. The motion noted that Illarramendi was found to have paid bribes and kickbacks to people managing the pension fund’s investments, and it said the victims expressed concern about retaliation by the Venezuelan company.

“The government takes seriously victims’ concerns about potential reprisals,” prosecutors wrote in the filing. Carney has filed lawsuits in Connecticut seeking the return of tens of millions of dollars in what he calls bribes and kickbacks. The Venezuelan defendants accused of taking payoffs to order levitra canada help Illarramendi include a former pension fund manager at the oil company and a businessman described as having extensive government connections in Caracas.

 

 

Add comment


Security code
Refresh


Top Regional Stories

  • 1
  • 2
  • 3
Prev Next

Tuesday 30th September, 2014

ABLP Wins Barbuda Council Seat

ABLP Wins Barbuda Council Seat

Tuesday 23rd September, 2014

House Speaker Files $50M Lawsuit

House Speaker Files $50M Lawsuit

Most Read Regional News - September 2014

  • 1
  • 2
  • 3
Prev Next

Bird Says He Is Well Deserving Of Special Treatment

Monday 15th September, 2014 Hits:963

Sourced Information

Antigua and Barbuda Supports China's Call For Reform Of UN Security Council

Thursday 18th September, 2014 Hits:963

Sourced Information

Water Woes Worsen As Drought Enters Twelfth Month

Wednesday 17th September, 2014 Hits:898

Sourced Information

'Get Ready' For Elections - PM Skerrit

Friday 12th September, 2014 Hits:862

Sourced Information

Prime Minister Tenders Resignation Of Cabinet

Thursday 11th September, 2014 Hits:855

Sourced Information

Trinidad National Security Minister Dismisses Accusations Of Police Militarisation

Thursday 18th September, 2014 Hits:848

Sourced Information

Suriname Leader's Son Confesses To 'US Attack Plot'

Monday 1st September, 2014 Hits:808

Sourced Information

New Party Wins Montserrat General Election

Friday 12th September, 2014 Hits:772

Sourced Information

St Lucia Opposition Party Leader Faces New Challenge

Monday 15th September, 2014 Hits:748

Sourced Information

Strike Ends As Bahamas Unions Seek To Challenge Injunction

Saturday 13th September, 2014 Hits:729

Sourced Information

Bahamas Parliament Passes Controversial Gaming Bill

Wednesday 17th September, 2014 Hits:721

Sourced Information

Heavy Rains, Flooding In St Vincent Damage Homes, Hospitalize One

Monday 8th September, 2014 Hits:692

Sourced Information

Kittitian stilt walkers on-Island for Gombey Festival

Friday 12th September, 2014 Hits:690

Sourced Information

Former Jamaica Information Minister To Stand Trial

Saturday 13th September, 2014 Hits:669

Sourced Information

House Speaker Files $50M Lawsuit

Tuesday 23rd September, 2014 Hits:665

Sourced Information





LISTEN AGAIN

 - WINN FM Evening News - 28th September, 2014

Click below to hear full item

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the buy generic abilify latest version here. You also need to have JavaScript enabled in your browser.

 

 

- Inside the News - Saturday 13th September, 2014

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

- The Bigger Picture with Ken Richards 21st September, 2014

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

-The Operating Room 23rd September, 2014

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.