March 22, 2023

East Valley Times

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“Argentine Madoff”: Prosecutor’s office seeks ten-year prison sentence and nearly $230 million in fines for Enrique Blaxley

Ten years in prison and a fine of nearly 230 million pesos, six times the amount recovered. Through eventual deception and “laundering” in opaque real estate and business transactions. That’s the sentence the nation’s attorney’s office sought today Enrique Juan Blaxley SenoranceAccused of being the executor of one of the largest financial frauds in the history of the country, which earned him the nickname “Madoff Argentina”.

Federal Oral Court (TOF) no. It was requested by federal prosecutor Abel Córdoba during his arguments before the 4th, which was the jurors for Blaxley and the other defendants. Against victims of money laundering and 311 millionaire fraud in the collapse of his company, Hope Funds. Blaxley has been in prison for four and a half years; The last extension of detention granted by judges Néstor Costabel, Jorge Gorini and Ricardo Baslico expires next week.

“We thought it was a good argument; although it took several days, it was clear and specific, representing each of the strongest elements to achieve the trust of responsible, simple and technically impeccable people.I said Nation Lawyer Víctor Varone represents 70 of the victims.

Córdoba sought the largest penalty for the man considered the architect of the Hope Funds corporate structure, which crossed operations in the country and branched out through 60 business entities in the United States, Panama, Europe, Asia and Africa. They are simple rubber stamps. He was charged with the following offences Aggravation by unlawful association, 311 fraudulent acts, money laundering, fraudulent bankruptcy in a better match, unauthorized seizure of savings and public contribution.

He estimated the damage from the fraudulent activities at around 900 million pesos, roughly 6 million dollars at today’s official exchange rate. But the valuation of the laundry reaches 37,931,214.5 pesos; Thus, his proposed fine for Blaxley reaches $227,587,287, which is one and a half million official dollars.

“The account was made using Hope Funds own accounting and seized documents. It provided the amount to receive savings from the public at least till 2014 $120 million. That is what they took, documented and accounted for. Of that, Blaxley invested 25 million, and they never paid him back. The other 95 million he took, spent, they are not… There is circumstantial evidence and indications that this is only part of it. But it is enough for punishment,” they said Nation Competent judicial sources.

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Although federal prosecutors offered to acquit the three brothers of Hope Funds president Francisco, Maria Rita and Juan Pablo Blaxley and Alexis Teittle, the indictment spread to ten defendants, for whom he sought sentencing. Imprisonment from three years to six-and-a-half years, for all or part of the offense alleged in the proceedings.

In particular, Alejandro Carosino – Blaxley’s brother-in-law – and business lawyer Pablo Villa, participants in the creation of companies abroad (some, through the Mossack Fonseca investigation, evidence of the mega-leak of offshore operations. The Panama Papers ), the prosecution demanded 6 years in prison and a fine of six times the amount of money laundering; For the manager of Hope Funds, Federico Tolincu and Veronica Vega – the business manager and Blaxley’s sister-in-law, he demanded the same penalty, but 5 years in prison. For Rafael de la Torre Urizar, Esteban Casco, Guillermo Müller, Felipe Badino, Daniela Sarsa, Damián Gómez and María D’Ángelo, the request lasted three years.

Prosecutor Córdoba reached the stage of arguing the case based on the charges filed by federal prosecutor Alejandra Mangano at the trial. The gist of the indictment reads: “Interfered from at least 2007 to 2016. A criminal organization or organization created, organized and directed by Enrique Blakeslee Senorans, Composed of different natural and legal persons, destined to commit crimes. They deployed various maneuvers over a period of time They defrauded not only the National Treasury but also individuals who entrusted them with money under the guise of grafting mutual agreements, investment certificates, investment contracts and real estate trusts, With the promise of investment and return, in the former case, with high interest, after a period of time. This did not happen and the money was illegally capitalized by the accused. According to them, they used a complex corporate structure that allowed them to insert illegally obtained money into the market with the possible consequences of obtaining the appearance of legality.

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Last month, the Federal Administration of Public Revenues (AFIP), in its allegation, He had demanded the punishment of 12 years in prison for Argentina’s Madap A lead Illegal association. He also asked to pay an amount A fine equal to seven times the amount of the proceedings involvedIts updated amount has not yet been established, but it is about 1,000 million pesos, and Confiscation of all assets A failed company is insolvent and therefore subject to execution ordered by a commercial court.

Lawyers James Lozano and Ramiro PujanPlaintiffs, on behalf of AFIP, contended that “One Architect, Leader and Organiser” Structure of the organization and the criminal machinations created by it. For this reason, he was considered the teacher responsible for the crimes “318 counts of repeated fraud, unauthorized capture of public savings and fraud by public offer, illegal association as teacher, tax evasion, money laundering and fraudulent bankruptcy”.

In his defense, Lozano argued that between August 2011 and September 2018, Hope Funds, led by Blaxley, took money from savers without permission and diverted funds from the state. Payment of VAT and Income Tax.

Lozano opposed the reciprocity agreement signed by Hope Funds with prepaid pharmaceutical businessman Manuel Jorge Vilar in April 2006: for the AFIP, it was a simulated operation, since the reciprocity signed the opposite document on the same date as the constitution. annulled the effects of the earlier agreement. The agency’s lawyer said the money never changed hands, but instead helped dump $633,000 in ill-gotten gains on the market.

AFIP pointed out that “Much of the money they obtained through tax evasion, embezzlement and improper collection of money from the public was used to buy real estate overseas. He accounted for a property at 1395 Brickell Avenue in Miami and several units of the Panamera apartment complex in Panama, which were later transferred to companies armed by Mossack Fonseca with proxies. .

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They also explained that there is a scam going around Veracruz, Pilar’s real estate megaproject, which Blaxley defined as the “jewel” of Hope Funds and, as he said in the same hearing, the business that allowed him to overcome the liquidity crisis that led to the collapse of his business enterprise. . The AFIP lawyer said: “Illegal funds were paid into that trust by people with low incomes.”

Finally, Bujan held that Blaxley formed and led an illegal association. “He set up a complex structure for tax evasion and defrauding private parties. The structure was growing to cheat the treasury and the public for billions of dollars. He collected money from different people and channeled the proceeds into new ventures, many of which were nothing more than shells. This made it easy for him to recycle funds and justify substantial sums of money. .He built his image as a successful businessman so that many people trusted him with their money.

And he defined: “The scheme is of the pyramid or Ponzi type: money is constantly taken from investors to obtain liquidity to pay interest or withdraw mutual capital. They generated regular income from Ponzi schemes. A large flow is diverted to another company with the appearance that they have acquired a legal status. Partial payments boosted confidence, and receiving cash encouraged investors to continue funding. They raised public native funds without any authorization. And knowing that he was insolvent to repay his creditors, he continued to invest to pay off his previous obligations.

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