PDVSA Pension Ponzi: Moris Beracha sued for $171 million

Filing here. Beracha, reached by phone, had no comment.

Weird filing, in that it never says they actually tried to talk to Beracha. I’d love it if they could give his sworn answer to a pretty basic question: did you get $171 million in illicit gains from Illarramendi? But hey, the truth will out, right? Ah, the majesty of the law.

I’m really busy and can’t stay up til 5 am reading this one. You’re going to have to find the key tidbits yourself this time — I’m off to the next blog post. OK here’s the key key one, anyway, free at no extra charge:

The Receiver’s investigation is ongoing. To date, in total, the Receiver has identified approximately $171,675,738 in fraudulent transfers to the Defendants, comprising investor proceeds and other monies that must be recovered for distribution to Illarramendi’s victims and creditors.

Am I the only one to find humour in the “approximately” followed by 9 significant digits? Ah, math giggles.

Suffice to say that the receiver is doing his job. And that it’s getting awfully easy to scoop the wire services.

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3 Comments

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3 responses to “PDVSA Pension Ponzi: Moris Beracha sued for $171 million

  1. lb

    the time arrive for the beracha morris , since he was young he was a small
    laundry maker now he become a very big one, this guy must be investigated deeply and you will find how a person like this can reach positions

  2. Venezuela

    We have to hear everyone opinion before leave a comment. It’s so easy to acuse someone like Moris Beracha only with the arguments that we read in this post! But who wrote this? Maybe a rival of Beracha, a competitor, that only wants to damage his image.
    But I think that in this interview Beracha explains very well the “case Illaramendi” and his implication (he was defrauded by Pancho too) http://goo.gl/Vyptp

  3. Benny

    With the latest news on the case, in which Illaramendi says that Beracha has nothing to do with his operations, demand will have to be withdrawn http://www.entornointeligente.com/articulo/1334155/Francisco-Illaramendi-libera-de-responsabilidad-a-Beracha-21112012