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DIFFERENT ANGLE by Kenneth Rijock
DIFFERENT ANGLE by Kenneth Rijock
Financial Crime Consultant, for World-Check
Why isn't anyone paying attention to the lessons of the Antonini case?
5 July 2008
Guido Alejandro Antonini Wilson is the Venezuelan-American whose attempts to bulk-cash smuggle $ 790,500 past Argentinean Customs opened a Pandora's Box exposing official corruption and money laundering in Venezuela and in Argentina. The problem is, the lessons of his case seem to be lost on all the countries that Antonini touched in his money laundering operations; Let us review those lessons, see how they are being ignored, and why.
The lessons of what must be the most-publicised money laundering scandal in Latin America do not appear to have sunk in. Some of the examples that prove that thesis:
Here are the lessons that I have in mind:
It is rumoured that still more damaging information will come out at the trial this Fall of Franklin Duran, the sole remaining defendant who has not pled guilty. Will he be permitted to assert as a defence that his actions in threatening Antonini was as a result of threats he himself received in Venezuela against his family, friends and businesses? We cannot say, but World-Check will be watching.
- Argentina hasn't arrested or convicted anyone in this massive money laundering case, where the funds smuggled in by Antonini were reportedly destined for the presidential campaign. Antonini reportedly has a dozen or so earlier trips. Where is all that money?
- The Venezuelan and Argentinean governments both denied that Antonini was couriering money to the Kirschner campaign, and blamed the Central Intelligence Agency, and other dark forces in the US government.
- The United States has given Antonini immunity from prosecution, to obtain his cooperation in the US Federal Court case against more senior Venezuelan officials, and individuals allegedly acting on its behalf, on failure to register as foreign agents charges.
- Miami bankers haven't gotten the message about vetting high-profile Venezuelan PEPs; A Miami branch of a Swiss bank recently accepted two of them as new clients, both military officers, reportedly without any decent Source of Funds enquiry. These two officers then commenced to acquire luxury automobiles, yachts, real estate, and even a helicopter to fly over Key Biscayne in. (Remember, Antonini and many of the other defendants in the Miami case live on Key Biscayne).
Here are the lessons that I have in mind:
- If you are banking thirty-something foreign millionaire/PEPs who don't work, and spend all their time involved in leisure activities, make very sure that they are independently wealthy in their own rights, and not involved in illicit activities. (US bankers).
- When someone is arrested with illicit cash, in an international money laundering case, do not pass the investigation around from prosecutor to prosecutor, and judge to judge, resulting on arrests (Argentina)
- If your senior officials are implicated in acts of international corruption, they should not make the problem worse, by attempting to use surrogates, to bribe those in the limelight to lie under oath to foreign law enforcement. (Venezuela)
- If an ally has requested extradition of a suspected money laundering courier, do not immunise him so as to be able to arrest more senior criminals, and keep him for your own political ends. Also, do not cout favourable deals with some of the more culpable guilty parties, to obtain testimony. (United States)
- If publicly-released nformation exposes massive corruption at the highest levels in a country who nationals transact business at your bank, do not ignore that fact when dealing with senior PEPs of that nation. (US bankers)
It is rumoured that still more damaging information will come out at the trial this Fall of Franklin Duran, the sole remaining defendant who has not pled guilty. Will he be permitted to assert as a defence that his actions in threatening Antonini was as a result of threats he himself received in Venezuela against his family, friends and businesses? We cannot say, but World-Check will be watching.
The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.
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