Stuff found in the #panamapapers

Yet to hit headlines there’s some stuff found in the #panamapapers that will shake a few boardrooms in Colombia, Venezuela, Switzerland and Russia.

Take for instance, the yet-to-be-fully-revealed partnership between Derwick Associates and Gazprom.

Gazprom’s Christophe Gerard and Derwick’s Orlando Alvarado as PetroZamora’s directors.

A while ago, Reuters announced that Gazprom had lent $1 billion to PDVSA to develop Petrozamora, through a joint venture that included Venezuela’s two largest fields.

What Reuters couldn’t say was that Derwick Associates -the Venezuelan energy contractor currently being probed by U.S. Attorney Preet Bharara- put some of its own -ill gotten- money into the deal.

A leak to this site shows how Gazprom and Derwick Associates used a number of Panamanian shell companies -like Mossack Fonseca’s Kayland Holdings- to conduct loan-related affairs.

Tens of millions (USD) worth of transactions have taken place between Gazprom and Derwick through BTG Pactual-owned BSI, Banca Credinvest and Gazprombank.

BTG Pactual has a documented history of corruption. To say that Banca Credinvest’s track record and its Venezuelan shareholders are equally dodgy would be an understatement.

Requests for comment sent to Gazprom have gone unanswered. One of Credinvest shareholders, Antonio Pardo Andretta, denied any knowledge or association with Derwick.

Domingo Guzman, one of Derwick’s directors, used Pedro Trebbau’s (another Derwick exec) Jade Ocean’s address to register http://gpb-la.com, a website intended to be used by Gazprom Latin America.

Derwick also used the services of Mossack Fonseca, through an agent in the Dominican Republic called Vilma Veras, to register Derwick International Inc. According to the #panamapapers, this particular shell was created to own a villa in La Estancia, a golf resort in La Romana, Dominican Republic.

But then, Gazprom and Gazprombank have been included by the U.S. Treasury in its list of sanctioned Russian entities, following Ukraine’s invasion.

In light of these new revelations, it remains to be seen whether authorities in Switzerland, Colombia, Venezuela, and Russia will launch probes into Derwick’s activities similar to that of Attorney Bharara.


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