The Swiss bank turned over funds it held for a PDVSA contractor who pleaded guilty of corruption, which appears to contradict its recent claims not to have any clients from Venezuela on its books.
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.
Mirabaud held at least $4 million for Abraham Shiera, a Venezuelan businessman who was indicted on conspiracy and corruption charges by U.S. prosecutors in connection to the oil scandal. Shiera, who pleaded guilty, is in the process of forfeiting cash, a luxury Miami condo, a yacht, and two jets to satisfy a forfeiture agreement.
Forfeiting $4 Million Account
He's tapping heavily from Swiss banks to do so. «The defendant [Shiera] caused $4,019,179.75 to be wired from a Mirabaud account with an account number ending in 1305, held in the name of Tholla Enterprises Corp., for purposes of forfeiture,» according to the court documents filed recently.
A spokesman for the bank on Monday said Mirabaud has «a very limited number of 'old' (historic) clients of Venezuelan nationality.» Mirabaud’s appearance in U.S. court filings follows recent comments to finews.com denying that it has any Venezuela clients, either in Latin America or offshore. The bank had «several years back» decided not to onboard any new Venezuelan clientele, it said.
Swiss Probe Mothballed
Mirabaud’s Latin American business is overseen by Thiago Frazao (pictured below), who is a limited partner in the family-controlled private bank. Mirabaud said its Latin American activities are centered on the southern cone, which is traditionally Argentina, Chile and Uruguay, as well as Brazil.
Mirabaud also recently popped up in the headlines over funds allegedly held on behalf of Juan Carlos, the former king of Spain, as well as in a long-running dispute with a former Kuwaiti official. It also emerged in the U.S. court filings that Shiera had stowed a total of $8 million with Credit Suisse, in five different accounts.
Credit Suisse Accounts
Shiera held one in his own name, a second in another, unidentified person's name, and three named Glorius, Freestar, and Harmony. Credit Suisse was in 2018 sanctioned in Switzerland for its dealings with PDVSA.
Switzerland's attorney general mothballed a PDVSA investigation in April. Swiss prosecutors couldn't obtain unbiased legal aid from Venezuela, where president Nicolas Maduro is holding on despite dozens of countries including – crucially – the U.S. recognizing opposition leader Juan Guaido as an interim president last year.
