Authorities arrest man in fraud case:Bank scandal hit Uruguay during crisi

Authorities arrest man in fraud case
Bank scandal hit Uruguay during crisis

The Associated Press
Posted May 20 2006

MIAMI · A man accused in Uruguay of an $800 million banking scandal that led to a financial crisis affecting three South American countries was arrested in Coral Gables on Friday, according to U.S. Immigration and Customs Enforcement.

Juan Peirano-Basso, 56, a dual citizen of Uruguay and Italy, was charged with making false statements, embezzlement and bank fraud. He was in the custody of the U.S. Marshals Service, ICE spokesman Dean Boyd said.

Peirano-Basso has been hiding from authorities since the 2002 banking scandal, which hit at the height of a deep economic crisis in Uruguay. His three brothers, also implicated in the scheme, have been in custody in Uruguay since that time.

Uruguayan authorities said the four Peirano-Basso brothers were part of a so-called "Grupo Velox," an operation that rocked the financial markets of Uruguay, Argentina and Paraguay.
(snip)

The crisis in Uruguay was one of its worst in decades. The economy shrank by 11 percent, inflation and unemployment soared and nearly one-third of Uruguayans were living below the poverty line.
(snip/...)

http://www.sun-sentinel.com/news/local/florida/sfl-ffraud20may20,0,1726060.story?coll=sfla-news-florida

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Thursday 3 July 2003
Bank Frauds Highlight Lax Controls, Possible Collusion by Officials

Alejandro Sciscioli and Darío Montero

~snip~
The downfall in Paraguay of Velox, which is owned by the Peirano clan from Uruguay, triggered a domino effect in which the group's banks and other businesses began to go bankrupt in Argentina, Brazil, Chile, Ecuador, Peru and Uruguay.

A similar fate was suffered by a consortium headed by the brothers Carlos and José Rohm, two of Argentina's most powerful financiers, who controlled the Banco Comercial in Uruguay and the Banco General de Negocios in Argentina, which were partly owned by J.P. Morgan Chase, Dresdner Bank and Crédit Suisse. Among the Rohm brothers' friends figure former Argentine president Carlos Menem, George Bush Sr. and Henry Kissinger.
(snip/...)http://insidecostarica.com/specialreports/finance_south_america_bank_fraud.htm

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And this criminal figured he'd be safe hiding out in Miami. Figures.

Reading the first had me wondering if the global elite's fingers were in this somehow. Latin America is just a lamb waiting to be shorn by those guys.

Wonder if the US will deport Basso back to Uruguary. Chances are we will not.

good, for-the-people) governments elected in country after country--Argentina, Uruguay, Brazil, Chile, Venezuela, Bolivia--virtually the entire continent. Peru may be next. Also, Nicaragua and Mexico.

The U.S. government stands almost alone as the most rotten in the Western Hemisphere, and rivaling some of the worst in the world. When do we get to topple the rotters here?

The key to the success of decent government in Latin America has been TRANSPARENT elections--the result of years of hard work by local civic groups, the OAS, EU election monitoring groups and the Carter Center.

OUR elections have become so NON-TRANSPARENT, they are absurd. Time we did something about Bushite electronic voting corporations controlling the vote "count" with "TRADE SECRET," PROPRIETARY programming code and virtually no audit/recount controls, don't you think?

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Throw Diebold, ES&S and all election theft machines into 'Boston Harbor' NOW! Ban all private money in political campaigns. Take back some of our public airwaves for political debate.

And then, we, too, will have decent government.