New Signs of Corruption in Argentine Government: More Evidence of Lazaro Baez's Money Laundering Trail

USA - English

• Latin America - español

WASHINGTON, Oct. 7, 2014 /PRNewswire-USNewswire/ -- ATFA Co-chair Robert J. Shapiro and Dennis H. Hranitzky, NML's litigation counsel and partner at Dechert LLP, will discuss new findings uncovered through discovery sought by NML Capital into the alleged embezzlement and money laundering activities of Kirchner crony Lázaro Báez. These new findings support allegations developed by prosecutors and press sources in Argentina and banking regulators in Uruguay linking Báez to millions of dollars that flowed through the construction company Decavial between September 2010 and April 2012.  A media teleconference on these findings will occur on Wednesday, October 8 at 2:30p.m. EDT/3:30p.m. ART.

These new findings follow an August 11 court order from a federal court judge in Nevada requiring 123 Nevada shell companies controlled by Báez to provide discovery requested by NML.  NML sought the discovery in response to an exposé by Argentine prosecutors alleging that the Kirchners plotted with Báez to launder tens of millions of dollars in funds earmarked for public works through this network of Nevada-based shell companies.   On June 16, the U.S. Supreme Court affirmed that Argentina is not protected from the discovery process by the Foreign Sovereign Immunities Act.

Call-In Numbers: United States/ Canada: +1- 800-862-9098, 785- 424-1051;
Argentina: 0- 800-666-0250

Conference ID: BAEZ
**Please note, if an international site is unable to access the call using the international toll free number for their country, they may dial in using the toll (785) number. 

NOTE:  RSVP required to [email protected]

Dennis H. Hranitzky has been litigation counsel to NML Capital and other creditors of Argentina since the beginning of the Argentina debt default litigation in 2002.  In addition to leading NML's efforts to uncover information about the corrupt activities of Lázaro Báez, Cristobal Lopez, Amado Boudou and others, Mr. Hranitzky led the effort to arrest the Fragata Libertad in Ghana in October 2012, and obtained the first and largest recovery against Argentina since the litigation began:  securities held in a trust created as part of the privatization of Banco Hipotecario in the 1990s valued at over $30 million.  Mr. Hranitzky concentrates in complex litigation matters with an international dimension, including disputes with sovereign states and instrumentalities, multinational debtor/creditor litigation and cross-border bankruptcy matters.  He frequently writes and lectures on these topics, and has been a visiting lecturer on at Stanford Law School and Georgetown University Law School.

About the American Task Force Argentina:  The American Task Force Argentina (ATFA) is an alliance of organizations united for a just and fair reconciliation of the Argentine government's 2001 debt default and subsequent restructuring. Our members work with lawmakers, the media, and other interested parties to encourage the United States government to vigorously pursue a negotiated settlement with the Argentine government in the interests of American stakeholders.

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SOURCE American Task Force Argentina