All content of OffshoreAlert Columnist

ARGENTINA & VENEZUELA Extradition for Antonini WilsonGuido Alejandro Antonini Wilson, a Venezuelan US entrepreneur involved in the so called "suitcase scandal", may still be extradited to Argentina to stand trial for smuggling and money laundering, according to Assistant US Attorney

BRAZIL Favelas Drugs, guns and gangsIn São João, a favela on the north side of Rio, drug gang look outs perch on rooftops and at other strategic spots overlooking the entry points to the slum, just a few meters from

ARGENTINA More incriminating data against MenemFormer Iranian spy Abolghasem Mesbahi confirmed from Berlin in a videotaped interview at the AMIA trial taking place in Buenos Aires that an alleged envoy sent by Carlos Menem requested $10 million in exchange for

In November, the Auditor General of Bermuda released a report on the "Work of his Office and on the Accounts of the Government of Bermuda for the Financial Year April 1, 2001 to March 31, 2002". The report paints a

Affirmative action is usually a government policy that asks employers or educators to offer the best opportunities to minority candidates over white people. Affirmative action is also that rare government attempt to correct past wrongs that is disliked both by

BRAZIL Fight against drugs controversy Brazil is involved an increasingly angry debate about the role of the security forces as they fight against drug trafficking mafias in shanty towns. The government decided to leave this fight in the army's hands

ARGENTINA Menem on trialAlthough he did not show up at court, former Argentina president Carlos Menem began to be tried for his alleged involvement in smuggling arms to Ecuador and Croatia, the biggest corruption scandal during his years in office

ARGENTINA New anti terrorism law Under pressure from the United States, Argentina is about to pass a law that will punish the funding of terrorist activities. Until now, Argentina did not have laws specifically combating terrorism funding. The Argentinean Congress

The US Dollar versus the Euro There is much surprise in the “blogs” and from “analysts” about how resilient the dollar has been against the Euro. Europhiles such as Warren Buffett purchased a great deal of Euro denominated bonds and

Imagine if you had an excuse for everything bad that you ever did. Imagine a society in which half the people had the same excuse. Would you rather be in the group with the excuse that exempted them from the

BRAZIL Business as usualDespite a bribery scandal that has shaken the Brazilian government to its roots since June, President Luiz Inácio Lula da Silva remains a strong candidate for re election in October 2006. According to local media reports, the

"How many goodly creatures are there here How beauteous mankind is O brave new world,That has such people in't." While the recession may have been declared officially over in the United States, Bermuda's economy remains in the doldrums. Bermudian taxi

Bahamian financial woes The economy stinks and it's getting worse. The once thriving downtown area along Bay Street has empty buildings and those with merchandise have 50% off sales and "going out of business" sales. The huge gap left by

Investigator finds links among different cases of corruption in Argentina The head of an anti money laundering commission in Argentina, Legislator Elisa Carrió, has linked apparently unconnected cases of corruption that have occurred during the past 15 years in a

CENTRAL AMERICA New initiative against corruptionThe countries of Central America's so called northern triangle - El Salvador, Honduras and Guatemala - are studying setting up an international commission against impunity, a body capable of taking on organized crime in the

The More Subtle Side of a Legal System I regularly speak with financial experts from around the world, from which I have learned a great deal. It is truly a treat to see their view of the world and finance

ARGENTINA Menem in exileFor the second time, an Argentinean judge issued an international arrest warrant for the former President, Carlos Menem, on allegations of tax fraud.Apart from other crimes, Menem is accused of embezzling tens of millions of dollars during

The history of risk management and the entire modern insurance industry was based upon the mathematics of gaming. In fact, most of what we know today came from the knowledge tree planted by Chevalier de Méré, Blasé Pascal and Pierre

ARGENTINA Bad start for new president Néstor Kirchner, an obscure provincial governor, became Argentina's president elect by default when former President Carlos Menem withdrew alleging that there was "a systematic slander campaign" against him. Menem is on trial for several

I have worked with more gamers and more fellows who want to be gamers than I can remember. They are all certain they have all of the answers on how it can be done "legally" vis à vis offshore structures

Corruption in Argentina Since it was founded in 1999, the Argentinean Anti Corruption Office has handled 1,784 cases that generated 489 complaints but none of them has produced a sentence. The last index by Transparency International — which classifies countries

BRAZIL Switzerland accused of non cooperation A judge in Sao Paulo has sent a letter to the United Nations and the Financial Action Task Force accusing Switzerland of violating a UN international convention because the Swiss government refused to inform

ARGENTINA & OTHERS Efforts to regulate remittances markets…The Argentinean Central Bank is examining a plan to toughen the regulation of the remittances market in order to prevent money laundering. Remittances to Argentina rose almost eightfold, from $100 billion in 2001

CENTRAL AMERICA Fight against Trafficking Creates Crime Niches in Central AmericaIncreased efforts against drug trafficking in Colombia and Mexico are driving drug mafias into Central America, where drug related corruption, money laundering and violence are growing. President Alfaro Colom of

ARGENTINA Good banks, bad banksElisa Carrió - leader of the Alternative for a Republic of Equals (ARI) party - warned the government in a letter that Merrill Lynch & Co. and Barclays Plc, two of the three banks picked by

PARAGUAY Twenty years of transition Paraguay celebrates the 20th anniversary of the fall of former dictator Alfredo Stroessner (1954 1989) amid uncertainty for the loss of power of the Colorado Party, which ruled the country for 61 years. In February

COSTA RICA Arrested with $259,000 A Mexican identified only as Ramírez Sánchez was arrested in San José with $259,000 hidden in his luggage as he was trying to get back to Guadalajara. Costa Rican authorities also detained a Panamanian identified

COLOMBIA Espionage scandal A scandal brought about by Colombian President Álvaro Uribe having illegal meetings with judges, politicians, journalists and former public officials has cast a shadow over his government, inside and outside of the country. Colombians are now demanding

ARGENTINA Football and Unrest Hundreds of Argentine football hooligans known as "barras bravas" flew to South Africa for the World Cup and threatened to cause disturbances if the football clubs do not get them tickets to the games. Argentina's barras

CHILE The Right is Back After 52 years without a victory at the ballot, the right is coming back to rule Chile, as multi millionaire businessman and former Senator Sebastián Piñera barely won the run off against Eduardo Frei Ruiz

INTERNATIONAL Carbon Markets, a new business frontier While the climate change summit in the Danish capital ended up in mixed results, some experts warn that, by pushing carbon offsetting and trade, governments of developed countries have created a market that

ARGENTINA Tax Plan sets off alarm An Argentine plan to increase tax revenue and revive the economy, with a no questions asked policy, is being criticized because it could create opportunities for money laundering. With capital flight estimated at $20

ARGENTINA Money mess at the Ministry A few days before the Néstor Kirchner transferred power to his wife Cristina in December, 2007, the Ministry of Finance paid irregularly $15.7 million to a group of foreign insurance companies linked to Iván

COLOMBIA Convictions for FARC supporters Monzer Al Kassar, alias El Taous, and his associate, Luis Felipe Moreno Godoy, were convicted following a three week trial in a Manhattan federal court. The defendants were found guilty of conspiracy to murder US

The main topic of conversation in Bermuda today is the next general election. It looks as if the governing Progressive Labour Party (PLP) may have turned what could only have been a straightforward victory into something of a contest.When the

A political situation is building in Bermuda that could lead to the collapse of the ruling Progressive Labour Party before its first term of office is fulfilled. The party's backbench, routinely ignored when important decisions are being made, has openly

On December 10, 1948, the General Assembly of the United Nations adopted the Universal Declaration of Human Rights.The Declaration lists 30 “inalienable rights of all members of the human family”. UN member states have pledged to achieve the promotion of

Antigua vs. USA The April 3rd deadline imposed by The World Trade Organization for the USA to clarify its stance on online gambling, in a case the WTO trade court decided against the USA and in favor of the

Most micro communities in the world acknowledge the limitations that come with size. Small may be beautiful, but it is often not practical. Politics is a good example of this principle in action. How many great politicians do you think

Ever since its formation in the mid 1960s, Bermuda's governing Progressive Labour Party (PLP) has placed Independence at the centre of its political programme. The PLP's unwavering pro Independence stance is its defining characteristic.For the first five and a half

COLOMBIA New Government, Old Challenges Colombian President Álvaro Uribe ends his second consecutive term with 75% approval ratings and strong international support reflected by his designation as vice chair of a UN appointed international panel to investigate Israel's attack on

I delayed writing this letter in the hope that a move to oust Premier Ewart Brown as the leader of the ruling Progressive Labour Party would succeed. Unfortunately, he has survived the challenge to his authority and that is bad

BOLIVIA & VENEZUELA Bolivia and Venezuela shrug their shoulders Bolivia and Venezuela have shrugged off a U. S. State Department's annual report on global drug trafficking that criticizes them. In the report, Venezuela is singled out as an increasing menace.

COLOMBIA Differences between candidates Noemí Sanín, the presidential candidate of Colombia's Conservative Party who is running second in the polls, has a few advantages over her main rival, the right wing Juan Manuel Santos, such as extensive experience in foreign

Minister of Finance Paula Cox announced that "Bermuda is engaged in negotiating a further 10 Tax Information Exchange Agreements with OECD states and two with EU states". She also pointed out that Bermuda's TIEA with the United States was signed

ARGENTINA President defends her assets President Cristina Fernández rejected accusations of illicit enrichment after the publication of her and her husband's assets revealed an increase of almost 160 percent in the last year. In their asset statement Fernández and

"Misery acquaints a man with strange bedfellows" Bermuda's Premier, Dr. Ewart Brown, may have felt a little awkward the other day when facing the press flanked by two senior corporate lawyers from the Island's largest law firms. At first sight,

Greetings gentles, from "the still vexed Bermoothes" The last writer of this column having consumed one dark and stormy too many, I have been summoned by the spirits that haunt these islands to share my thoughts with you. As the

This will be the final appearance of this Letter from Bermuda by this author, although similar independently minded columns written by others may follow. That makes now a good time to assess how Bermuda has changed in the six years

"What cares these roarers for the name of king?"There are no hurricanes at this time of the year. Instead, we have winter storms. Recently, the Island has been receiving a ferocious battering from wind and waves. So many flights to