The Devil's Excrement





  The Devil's Excrement
Observations focused on the problems of an underdeveloped country, Venezuela, with some serendipity about the world (orchids, techs, science, investments, politics) at large. A famous Venezuelan, Juan Pablo Perez Alfonzo, referred to oil as the devil's excrement. For countries, easy wealth appears indeed to be the sure path to failure. Venezuela might be a clear example of that.
Last updated:
2/1/2008; 10:55:01 PM

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Tuesday, January 29, 2008



A friend sends me the address of the home where one of the men jailed in the Maletagate case, Franklin Duran, was living in Miami before he was detained, specifically in Key Bizcayne, FL. The address is 655 North Mashta Drive and if you look at google maps, you find this aerial view:



It looks very nice indeed, right on the inlet, and on the water as you can see on the left and you can see on the right the dock and boat in the back of the house. If one the puts the same address into zillow.com, then one actually gets a very nice view of the house, pools and everything, looks like the house has two buildings and maybe even a couple of pools:





According to zillow, the house is estimated to be worth US$ 3.96 million and yearly property taxes alone are US$ 75,600, what would be a huge salary by Venezuelan standards.

One can then go to the Dade county webpage and put in the address in the database for properties in the county and one finds that the house was assessed in 2007 at US$ 4.7 million and is the property of a company called Foxdelta Investments. In pilot-speak Fox Delta stands for FD, the initials of Franklin Duran, but one can go to the sunbiz webpage and find that Foxdelta investments is indeed currently owned by Franklin Duran himself as its sole Director.

However, if one looks at the annual reports of the company, the original company was registered by lawyer Wladimir Abad in 2003 and in 2004, it’s President became Franklin Duran and it’s Vice President became none other than the carrier of the suitcase himself, Guido Alejandro Antonini, with their addresses specified, confirming beyond any doubt that the information given to me is correct: This is Duran's home, not too shabby, no? Long live the robolution!

Nothing much happened with the company until August 22nd. of last year, when two weeks after Antonini was caught with the suitcase entering Argentina, Duran removed his buddy Antonini from being a Director, probably as a way of distancing himself from Antonini. Unfortunately, later he met repeatedly with Antonini trying to help him “hide” the origin of the funds in the suitcase and the FBI was watching and taping and he was detained for acting as an agent of a foreign Government.

Meanwhile, William Abad, who created the company FoxDelta Investments was also the Secretary of the company which owned the plane confiscated last June by the DEA, as they made believe that the plane was owned by US nationals, which he, as a lawyer, clearly knew was not true. This all makes it fairly clear that all of these guys know each other.

The bolibourgeois seem all to be connected to each other and they seem to love nice homes and expensive toys like planes.

You have to love the robolution!


9:09:09 PM    comment []



And the Financial Times discovers Oligarco Burguesito and how stupid and inefficient this Government has been:

"Some with enough contacts are making a living through arbitrage. People with credit cards who cannot afford to use their dollars from Cadivi sell their quotas to those who can. According to Cadivi, from January to November last year, Venezuelans spent more than $4bn (€2.7bn, £2bn) on credit cards abroad, compared with just over $1bn the year before. By contrast, Cadivi approved only $2.2bn for food importers, even though the nation is battling food shortages."

8:24:07 PM    comment []



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Last update: 2/1/2008; 10:55:01 PM.
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