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Who would have thought that in the upstart conglomerate of Manuel Baldizón, where he also received undue benefits from Alejandro Sinibaldi and Norberto Oderbecht, there also took place a vicious banking adventure that led to charges from the FBI and the American Justice.
The fact that the credit bank managed by the Cobar family disappeared in secret at the hands of the Superintendency of Banks, which was rarely reported in the media, shows that we urgently need to strengthen economic, financial and financial services. Business supervision has been halved. The aforementioned bank even puts IGSS’s investments in the Guatemalan financial system at risk.
It turns out that in a report submitted to the IGSS Board of Directors in March 2019, investment experts in financial management and its field began to report on the financial deterioration shown by one of the banks in the system. Credit bank.
According to the data of its balance sheet, these figures show a decrease in its capital and negative performance. IGSS maintained its investment of nearly QR63 million in the aforementioned bank on that day, and according to experts, the deterioration of this situation is somewhat surprising. In the end, the money can be recovered with a lot of sweat and effort.
As is typical in these cases, the IGSS technical staff was responsible for notifying the board that the bank was beginning to violate regulations, notifying the bank’s supervisory department, and asking the legal department to review these actions.
The communication with the Banking Supervision Bureau was extremely reserved, but the employee had long foreseen that this was a problem of poor governance at the bank, which is common in the current banking crisis: when leadership is wrong, or even misguided and corrupt, things can turn red.
(frasepzp1)
As Bill Barreto explains, the case of Baldison and his arrest in the United States also led to the arrest in November 2019 of Guatemalan banker Alvaro Estuardo Cóbar Bustamante, director of Banco de Crédito in Miami, Florida. The banker was accused of carrying out financial transactions on American territory with the funding of drug trafficking. According to reliable sources, Baldison was the middleman in such operations and documented Cóbar’s situation.
Baldisson admitted that he obtained political campaign funds through drug trafficking between 2014 and 2015. But in addition to this, according to the Justice Department, he also bought an apartment in Miami, Florida, as often happens with these Kuchuba people.
According to the country’s courts, the politician knowingly conspired and agreed with others known and unknown to the grand jury to commit various criminal acts against the United States, engaging in financial transactions affecting interstate and foreign commerce because the origin of those transactions was illegal.
It is widely reported Public Square and Francisco Rodriguez, used in the testimony against the banker Alvaro Cóbar, also extended the network to the corporate and personal business of Acisclo Valladares, from the statements of Manuel Baldizón, who was sentenced to almost twenty years in prison for a felony.
We have reported several times on the exploits of Acisclo and FBI agent Paul J. West, who has been investigating operations related to drug trafficking in Guatemala.
Now let’s look at the relationship between Baldisson and Sinibaldi:
The recent judicial decisions in favor of Baldisón and Sinibaldi leave for future generations the urgency of a radical transformation of the entire Guatemalan judicial system. It is clear that in both roles they took advantage of their positions as candidates of both political parties at the end of the Colom era to defraud the treasury and taxpayers and took advantage of their fraud, betrayal and bribes that were even used by the Oderbecht company to continue its infrastructure projects in Guatemala.
Let’s look here at the widespread use of commercial vehicles for the purpose of putting money in their pockets, which led to Baldisson’s arrest and criminal charges on U.S. soil.
According to the investigation of the real and original CICIG, before its downfall, the funds were triangulated between Norberto Oderbecht and Alejandro Sinibaldi Aparicio through the Meinl Bank, located in the Caribbean island of Antigua and Barbuda, but headquartered in Vienna, Austria, acquired by Oderbecht to pay bribes in Latin America.
This is a cluster of companies controlled by Sinibaldi, others by Baldizon, worth mentioning: Lenneberg Investment Corporation, LATAM Independent Advisors INC, ROA Corporate Legal & Economic Advisory, INC, Century Investment Company, American Legal Advisor Corp, Rentamos LTD, Jianzhou Dengda Automotive Co., Ltd., BRIANZA Marketing Corp and an unidentified company from China. Note the diversity of business: leasing, car sales, legal consulting, general investments, etc.
It is worth noting that for as long as Hong Kong has existed, these companies have also been registered in other Caribbean islands such as the British Virgin Islands or in Chinese commercial territories used for these purposes.
According to excellent research conducted by Bill Barreto, offshore entities associated with Baldizón are in turn shareholders in other companies. For example, Rentamos Ltd is registered as a shareholder in a Guatemalan business entity that is associated with Baldizón and Consortium, SA, the entity responsible for the loan officer.
The United States insisted on a major overhaul （Not to mention that in these places, not only are there serious flaws in local administration, but also those related to commercial and financial regulation that can have disastrous consequences, as in the case of the Banco de Crédito, another example of corporate informality, whose borders with the illegal economy can be less clear.
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