With the passing of the hours, more details of the company Livestock Connection Ltda are known. For example, its directors are denounced for “fraud crimes” and “misappropriation”. In addition, men of the National Party are involved, such as Senator Jorge Da Silva who recommended investing in livestock connection, the advisor of the company Jorge Fernández (husband of the vice president Beatriz Argimón) and Pablo Carrasco himself, who is a recognized voter of the Javier García’s list 40.
Based on a report by the journalist Felipe Caorsi, from the echo we are also tieding ends about this financial chaos that involves a livestock connection, which received national and international investments without regulation from the Central Bank.
The company proposed to receive money and buy cattle, giving a ten percent interest to the capital received. However, investments were directed or redirected towards other sectors of the economy. At the time, livestock connection had to change all its contracts to perform as a livestock and non -financial business. The advice was his lawyer, at that time Dr. Jorge Fernández Reyes, professor at the University of Montevideo, founding and active member of the Uruguayan Institute of Agrarian Law, and husband since 2009 of the current vice president of the Republic, Beatriz Argimón.
Ponzi or “La Calesita” scheme
A Ponzi scheme or the “calesite” threshing is basically a type of fraud by which a company or person receives capital that claims to invest at an interest, generally greater than that of the market, but that is not actually invested. The agreed interests are paid with the capital of the next client.
The Ponzi scheme is a pyramidal scam that attracts investors and pays interests to previous investors, with funds of the most recent. The scheme leads to victims to believe that profits come from legitimate commercial activities and do not know that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business provided that new investors contribute new funds, and provided that most investors do not demand total refund and continue to believe in the non -existent assets they supposedly possess.
How is it done
We will explain how a Ponzi scheme is assembled. Companies that offer financial services what they really sell is confidence. Faced with several similar proposals when leaving their savings, someone will hardly go to a company seized with a history of bankruptcies or administered by people without preparation and without a trajectory. The client will look for a solid company, managed by prepared people who guarantee that their money is well taken care of and will gain value.
The first thing is to create a character
It is a successful person who brings together the values of the people he wants to attract. In this case: white, Catholic, traditional, with many children, positive (always positive) and linked to the field.
Gustavo Basso started working on a rural desk, had no field or capital. He was clear where he wanted to arrive, he was creating the character, based on work he managed to found his own desk, he linked to people who begins to trust him, who does not know so much field and begin to give money to manage, in livestock businesses . The idea is not to ask, is to show that he is doing well and wait for the people of his new environment to ask him to manage the money. Until a few days there was “waiting list”, in livestock connection. Common denominator of the scam Ponzi, make the investor believe that the business is exclusive and highly demanded.
Pablo Carrasco González is an agronomist, very nice, positive, is successful, white, voter of the list 40 of the National Party. Married to Ana IEwdiukow Artagaveytia, who is also a livestock connection partner. Paul is brother -in -law, brother of Juan Otegui’s wife, one of the richest men in the country, owner of 10% of UPM.
Where did the investments go
Unlike what is usually believed, Larrarte Group, livestock and livestock connection did not inves directly into agriculture, they did not contribute value to it. They offered high income in advance to the owners of the fields, displacing medium and small producers. In fact, Larrarte among its assets has the return of the rent of a field that paid in advance. These livestock trusts did not invested in producers and as we already know, they bought very little earned by guides and doing business with some consignees friends. They were investment funds that captured capital without being regulated by the BCU. The latter, being rural businesses.
The Argentines
Many Argentines fleeing the Kirchner tax settings, found a solution in these companies, when it came to dollars from their country. You didn’t have to declare in BCU, the AFIP did not know. In fact, today many of them do not even have paper guides. It is estimated that livestock connection moved a $ 1.5 billion box. Investors that come from the construction and other items that handle effective even of illegal activities, could be tempted to keep money in head of cattle, a liquid asset that could be sold at a fair, refrigerator, or a producer very quickly.
The doubts
The problem is when one of those investors sends a friend to tour the fields of Artigas and meets little catches, skinny, old and turns out that he is not in his name. Call by phone and nobody attends, sends emails and they don’t answer him either.
The political system
Upon knowing the figure of the livestock liabilities, the Uruguayan political system was contacted to seek a political solution, which would avoid the fall of the largest livestock trust in the country.
Sebastián da Silva (PN), who acknowledged having recommended about 25 friends to invest in livestock connection, but in turn did not close the numbers of the profitability of these companies. Understand that this is a business between private and the State cannot get into. Taxpayers’ money should not be used to save a scam between private.
The streaming that was not
On Wednesday 23 at 6:00 p.m., the company’s official YouTube channel was going to be communicated to the livestock connection creditors the result of an internal audit, offering solutions for everyone to charge. It consisted of asking for a truce of 60 days without complaints against the company. A remover about capitals, a corralito between 6 and 12 years and a maximum annual interest of 4%.
This information leaked the night before and finally 10 minutes before streaming, Carrasco communicates that it will not be done because “the information collected today is not enough to give them an exact situation where we are standing.” That is, does Carrasco know where your company is stopped? After 25 years of coding it with Basso, he adds: “The person hired for the primary evaluation of the company does not have accurate elements for unknown the magnitude of the millionaire differences … This would make the meeting something very little serious that does not combine with my convictions and values ”. What would be your convictions and values?
Complaint
Dr. Juan Pablo said filed the first complaint against livestock connection, it is for alleged crime of undue appropriation.
There will no longer be truce, in the scenarios that are coming, the most favorable for Carrasco is to reach a contest of creditors requested by them and thus distribute the assets in the name of CG among the 4200 creditors, which would give a remove of between 70% and 75% of the capital and be processed without prison, or for a few months in prison, perhaps in abbreviated trial. The same for his wife.
Out of the US $ 150 million that CG has, there are properties and companies in the name of close friends to Basso, Carrasco and Lewdiukow, which will have to investigate how they were bought.
The character they created Basso and Carrasco is still alive. Carrasco does not stop lying, to give a positive and hard work speech. He has made people around his environment withdrawing his capital for believing that Carrasco will return it in a few years.
If US $ 250 million does not appear in cattle head With maintaining money in cattle heads, a liquid asset that could be sold at a fair, refrigerator, or a producer very quickly.
The doubts
The problem is when one of those investors sends a friend to tour the fields of Artigas and meets little catches, skinny, old and turns out that he is not in his name. Call by phone and nobody attends, sends emails and they don’t answer him either.
The political system
Upon knowing the figure of the livestock liabilities, the Uruguayan political system was contacted to seek a political solution, which would avoid the fall of the largest livestock trust in the country.
Sebastián da Silva (PN), who acknowledged having recommended about 25 friends to invest in livestock connection, but in turn did not close the numbers of the profitability of these companies. Understand that this is a business between private and the State cannot get into. Taxpayers’ money should not be used to save a scam between private.
The streaming that was not
On Wednesday 23 at 6:00 p.m., the company’s official YouTube channel was going to be communicated to the livestock connection creditors the result of an internal audit, offering solutions for everyone to charge. It consisted of asking for a truce of 60 days without complaints against the company. A remover about capitals, a corralito between 6 and 12 years and a maximum annual interest of 4%.
Complaint
Dr. Juan Pablo said filed the first complaint against livestock connection, it is for alleged crime of undue appropriation.
There will no longer be truce, in the scenarios that are coming, the most favorable for Carrasco is to reach a contest of creditors requested by them and thus distribute the assets in the name of CG among the 4200 creditors, which would give a remove of between 70% and 75% of the capital and be processed without prison, or for a few months in prison, perhaps in abbreviated trial. The same for his wife.
Out of the US $ 150 million that CG has, there are properties and companies in the name of close friends to Basso, Carrasco and Lewdiukow, which will have to investigate how they were bought.
The character they created Basso and Carrasco is still alive. Carrasco does not stop lying, to give a positive and hard work speech. He has made people around his environment withdrawing his capital for believing that Carrasco will return it in a few years.
If US $ 250 million does not appear in cattle heads tomorrow, Pablo Carrasco and Gustavo Basso will be remembered as two of the largest scammers of the last 100 years of this country.
