Lava Jato scandal: Macri family firm tied to Austrian bank used by Odebrecht to funnel bribes

[tenorly]

Research by Marcelo Rielo of the Buenos Aires online daily Política Argentina revealed today that Meinl Bank, the Austrian financial institution tied to the massive Brazilian Lava Jato (Car Wash) bribery scandal, has substantial ties to the family of Argentine President Mauricio Macri.

Meinl Bank, documents from Argentina's National Securities Commission (CNV) show, lent the Macri family's conglomerate Sideco Americana S.A. 109,810,199 shares on February 24, 2014. The loan, according to sources specializing in international finance who spoke to Rielo, appears to have been in the form of a "back to back" credit - a mechanism often used to evade currency controls like the kind in place in Argentina between 2012 and 2015.

Sideco was founded by the Argentine President's father, Francesco Macri, in 1969.

The Macri administration is already reeling from reports that another family concern, the construction firm IECSA, has been awarded nearly $4 billion in public works contracts in 2016 alone, and that its CEO, President Macri's cousin Ángelo Calcaterra, was cleared in November by regulators to purchase a Cayman Islands bank for the deposit of said proceeds.

Macri's Director of Federal Intelligence, Gustavo Arribas, was discovered on January 11 to have received nearly $600,000 in payoffs from Odebrecht in 2013. The funds, wired to Arribas' Swiss Account, originated from Meinl Bank.

Meinl Bank's Antigua and Barbuda headquarters was used by the Brazilian construction giant Odebrecht to deposit over $1.6 billion in bribes to officials and influential individuals in 12 countries through 40 shell companies. CEO Marcelo Odebrecht is currently serving a 19-year prison sentence for his role in the Lava Jato scheme.

The Open Corporates and Panama Papers revelations published last April have linked the Macri family to 50 offshore accounts, most of which were undeclared to local authorities.

At: https://translate.google.com/translate?sl=es&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.politicargentina.com%2Fnotas%2F201702%2F19199-la-empresa-insignia-de-macri-tiene-acciones-prendadas-por-el-banco-clave-del-lava-jato.html&edit-text=

[Judi Lynn]

1. When Macri loses power THEN maybe the government will do the right thing

and throw his greedy behind, and those of his family, and cronies, in prison, but that seems nearly impossible now, even with everyone knowing how dirty they all are.

He accumulated his power and powerful allies over time until it seems he's unstoppable.

If only the voters will unite and show him otherwise.

The facts, as they surface, are horrendous.

He IS the Trump twin.

So sad.