A
federal trial in the United States by a demand for 100 million dollars
against Venezuela includes allegations of fraud, evidence of an
international criminal conspiracy and references to diamonds, German
junk bonds and a mysterious fire in a house in Switzerland. The trial began last week before Federal Judge Edmund Sargus and is expected to last four to six weeks.
By ANDREW WELSH-HUGGINS, Associated Press
In the center of the complaint of 2004 are drafts of 30 years issued by a Venezuelan government bank now defunct ago.
Venezuela has confirmed that debts owed to agricultural development bank known as Bandagro are obligations of the government and must be paid, say lawyers Skye Ventures in Columbus, where the purchase of the cards in 2004 was performed.
"This case is simple: It's about the refusal of a bank to pay their debts," said Charles Cooper, an attorney representing Skye Ventures, in a court document summarizing the arguments of investors.
Venezuela lawyers say the false bills of exchange with forged and were never guaranteed by the government firms.
"The evidence will show not only that the alleged letters are false but which the applicant seeks to capitalize on a long international fraud," said Albert Lucas, a lawyer representing Venezuela in its summary of the Venezuelan allegations.
The legitimacy of the letters of change is the axis of the case, which includes more than 700 individual documents and thousands of pages.
Skye Ventures says it based its decision to buy the cards in an opinion in 2003 by the Venezuelan Attorney General and a report that same year by the Ministry of Finance said that the notes were valid and should be paid.
Venezuela said the opinion and the report was not binding and that Skye Ventures had every reason to know that the letters were false exchange.
Venezuela said that the fraud was perpetrated by a "notorious international criminal" who, before dying in a house fire or in Switzerland, had previously been convicted of offenses relating to false letters Bandagro change.
The country's lawyers also deny Skye Ventures arguments that an affiliate with the criminal group bought those bonds "for more than 250 million dollars, allegedly by a combination of diamonds, German and effective junk bonds."
"That's a farce. It never happened, "say lawyers Venezuela.
In turn, Skye Ventures says that Venezuela has created a story "that requires the listener to believe that there was an incredibly vast conspiracy" to create fraudulent cards and trick the finance minister and the attorney general of the country.
"The truth is always easier," said Skye Ventures lawyers.
Before the trial began, numerous courts resolved legal issues related to the time of the complaint, if Venezuela was immune from lawsuit and whether the case should be prosecuted in the United States. AP
By ANDREW WELSH-HUGGINS, Associated Press
In the center of the complaint of 2004 are drafts of 30 years issued by a Venezuelan government bank now defunct ago.
Venezuela has confirmed that debts owed to agricultural development bank known as Bandagro are obligations of the government and must be paid, say lawyers Skye Ventures in Columbus, where the purchase of the cards in 2004 was performed.
"This case is simple: It's about the refusal of a bank to pay their debts," said Charles Cooper, an attorney representing Skye Ventures, in a court document summarizing the arguments of investors.
Venezuela lawyers say the false bills of exchange with forged and were never guaranteed by the government firms.
"The evidence will show not only that the alleged letters are false but which the applicant seeks to capitalize on a long international fraud," said Albert Lucas, a lawyer representing Venezuela in its summary of the Venezuelan allegations.
The legitimacy of the letters of change is the axis of the case, which includes more than 700 individual documents and thousands of pages.
Skye Ventures says it based its decision to buy the cards in an opinion in 2003 by the Venezuelan Attorney General and a report that same year by the Ministry of Finance said that the notes were valid and should be paid.
Venezuela said the opinion and the report was not binding and that Skye Ventures had every reason to know that the letters were false exchange.
Venezuela said that the fraud was perpetrated by a "notorious international criminal" who, before dying in a house fire or in Switzerland, had previously been convicted of offenses relating to false letters Bandagro change.
The country's lawyers also deny Skye Ventures arguments that an affiliate with the criminal group bought those bonds "for more than 250 million dollars, allegedly by a combination of diamonds, German and effective junk bonds."
"That's a farce. It never happened, "say lawyers Venezuela.
In turn, Skye Ventures says that Venezuela has created a story "that requires the listener to believe that there was an incredibly vast conspiracy" to create fraudulent cards and trick the finance minister and the attorney general of the country.
"The truth is always easier," said Skye Ventures lawyers.
Before the trial began, numerous courts resolved legal issues related to the time of the complaint, if Venezuela was immune from lawsuit and whether the case should be prosecuted in the United States. AP