Fact Check: Argentina

850 days, 6 hours, 0 minutes ago

SINCE RUFO EXPIRED

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Marynberg Gets Served

This morning, Clarin reported that ATFA member NML Capital subpoenaed Diego Marynberg last month under an order granted by the U.S. Court for the Southern District of New York.

This blog has  followed Axel Kicillof’s confidant Diego Marynberg’s long career of suspicious dealings in Argentina, in Russia and Venezuela, and his money trail through the United States and Uruguay – where Kicillof has a vacation home.  And, last month, we shared the news that he had put his luxurious Manhattan apartment up for sale, with a 17th floor view overlooking Central Park, for US$30 million.

The ties between Marynberg and Kicillof are quite pronounced.  We have reported on a criminal complaint filed against Kicillof in Argentina, accusing him of being part of a secret US$200 million BCRA bond operation favoring Marynberg – only days before Kicillof decided to take Argentina into default last year.  The complaint, which names Kicillof and Marynberg, contains criminal charges of insider trading, money laundering, breach of public duty and conspiracy.  That secret deal involving a UBS Bank and Marynberg’s Latam Securities, allegedly pushed by Kicillof’s Economy Ministry, was reportedly so explosive inside the government of Cristina Fernandez de Kirchner that it led to a confrontation between Kicillof and then-BCRA President Juan Fabrega, ending in Fabrega’s spectacular ouster.

On February 2, NML Capital issued a series of subpoenas to: Kicillof’s friend Diego Marynberg; Latam Securities (in the states of New York and Delaware); former UBS executive and current Latam trader Jorge Pepa; and a range of U.S.-based associates and entities who may have been involved in the alleged insider BCRA bond transaction last year with Kicillof and his aides.  And, according to Clarin, Marynberg and the others subpoenaed must appear to testify between March 19 and 21.

The subpoena requests that each of those who received the subpoena provide all records, documents and information they have – stored, on paper or electronic –that in any way relate to a number of individuals and entities which may have played a role in the secret bond operation, including (among others):

 – Axel Kicillof, the Economy minister
– Emanuel Alvarez Agis, Kicillof’s deputy minister
– Pablo Lopez, Kicillof’s Finance Secretary
– Augusto Costa, Kicillof’s Commerce Secretary
– Paula Español, Kicillof’s Foreign Trade Secretary
– Juan Carlos Fabrega, the former BCRA President
– Alejandro Vanoli, the former CNV president and currently heading the BCRA
– UBS Bank, an alleged key player in the secret bond deal
– Goldman Sachs Execution & Clearing L.P
– Mercantil Financial Services Ltd.
– Credit Suisse
– Nomura Bank
– Arcadia Advisors
– Adar Capital Partners
– Geo Equity Opportunities I Ltd.
– BGC Partners

Marynberg, Latam, Pepa and their associates have been requested to provide sworn deposition testimony, and must hand over – under U.S. court order – every record they have related to 29 Argentine officials and institutions and local and international financial firms. For the benefit of our readers and for crime-fighting reporters, we have uploaded copies of the subpoenas issued last month.