CARACAS, Wednesday August 07, 2013 | Update

Venezuela delves into likely fraud against Bandes in the US

The bank's head asked the Attorney General's Office to conduct an investigation

Wednesday August 07, 2013  12:01 PM
The president of the Economic and Social Development Bank of Venezuela (Bandes), Temir Porras, has informed that the Attorney General's Office has been requested to conduct an investigation into an alleged fraud in the United States against the bank.

The case involves Bandes' former manager María de los Ángeles González and a US brokerage firm. Porras pointed out an investigation must be conducted as "we may have been victims of embezzlement."

Porras added that the investigation was requested at home although the complaint was filed abroad.
The rock of discord

A shipment of over 30,000 tons of phosphate arrived at Puerto Cabello port in late July on board the Shi Long Ling, a Chinese-flagged vessel that began its long journey in northern Africa. The cargo boat docked on July 26 after traveling more than 3,200 nautical miles. Undoubtedly, this would just be considered one in many cargo ships crisscrossing the oceans if it were not for the fact that Venezuela has denounced Western Sahara occupation by Morocco and yet purchases the territory's natural resource products from the occupying power.