Venezuela’s main state-owned bank announced on Wednesday it will offer up to 10% of its capital in the local stock market, after President Nicolas Maduro allowed the partial opening of public companies to raise funds. Full Text -> FinancialTimes

TRaducción de cortesía -> El principal banco estatal de Venezuela anunció este miércoles que ofrecerá hasta el 10% de su capital en la bolsa de valores local, luego de que el presidente Nicolás Maduro permitiera la apertura parcial de empresas públicas para recaudar fondos.

Traducción al español -> Google Translación

Key Findings

• Many Venezuelans in the Suisse Secrets data made their fortunes during the so-called “Savage Years,” a period of currency-based graft which would eventually help crater the country’s economy.
• OCCRP has uncovered ties between Credit Suisse and numerous actors involved in a complex currency-swapping trade known as the permuta market. Many were implicated in highly lucrative yet illegal securities-related schemes.
• Key figures continued to open and maintain accounts despite clear, publicly available evidence that they were profiting from illegal schemes.

Full Text -> OCCRP

Traducción de cortesía ->

Conclusiones clave

• Muchos venezolanos en los datos de Suisse Secrets hicieron sus fortunas durante los llamados “años salvajes”, un período de soborno basado en la moneda que eventualmente ayudaría a hundir la economía del país.
• OCCRP ha descubierto vínculos entre Credit Suisse y numerosos actores involucrados en un complejo comercio de intercambio de divisas conocido como el mercado permuta. Muchos estaban implicados en esquemas altamente lucrativos pero ilegales relacionados con valores.
• Las figuras clave continuaron abriendo y manteniendo cuentas a pesar de la evidencia clara y disponible públicamente de que se estaban beneficiando de esquemas ilegales.

On 21 January 2021, the Office of the National Superintendent for Banking Sector Institutions (SUDEBAN) issued a notice that prohibits banking institutions from carrying out credit operations using foreign currency, without prior authorization from SUDEBAN and the Central Bank of Venezuela (“BCV”). By José Barnola. Full Text -> GlobalCompilanceNews

Venezuela said on Wednesday it will tax hard-currency transactions between clients of the same bank, an effort by President Nicolas Maduro’s government to boost tax revenue amid a broader economic liberalization. by Deisy Buitrago, Mayela Armas and Brian Ellsworth. Full Text -> Reuters

Zelle, the US-based digital payment network, restored its money wire services to an undetermined number of Wells Fargo clients living in Venezuela after suspending the access to their accounts on June 26, local financial daily Banca y Negocios reported on Thursday. Full Text -> Latin American Herald Tribune

Switzerland’s financial regulator is investigating Banca Credinvest over potential involvement with corruption at PDVSDA, it said in an emailed statement on Thursday. The Finma probe was first reported by «infodio,» a website devoted to graft at Venezuela’s state-controlled oil and gas firm. Full Text-> FINews

The Genevan wealth manager is the latest in a series of Swiss banks to surface in the context of a large-scale graft at Venezuela’s state-controlled oil company PDVSA, according to documents seen by finews.com. PDVSA’s ties to Switzerland and Liechtenstein include Credit Suisse, UBS, Julius Baer, EFG International, Compagnie Bancaire Helvetique (CBH), and Banca Zarattini. By Katharina Bart. Full Text -> Finews

Venezuela’s central bank has ordered local banks to sell dollars received through gasoline sales to the government’s foreign-exchange system to boost supply of hard currency to the cash-strapped economy, three sources familiar with the requests said. By Mayela Armas, Corina Pons, Sarah Kinosian. Full Text -> Regina Leader-Post

Deutsche Bank AG wants a judge to decide whether about 100 million pounds ($123 million) held by receivers following a terminated gold deal should be delivered to President Nicolas Maduro’s administration or one run by opposition leader Juan Guaido. By Jonathan Browning. Full Text -> Bloomberg

Several Swiss companies and banks have found themselves in the line of fire as the United States ramps up pressure on the Venezuelan government. Washington has sanctioned numerous top officials for money laundering and drug trafficking in the oil-rich but economically flailing Latin American nation.  By Paula Dupraz-Dobias. Full text -> Swissinfo