The “Venezuelan Insurance Czar” has seven luxury apartments in Madrid

The building at 73 Claudio Coelho Street in Madrid, where Venezuelan businessman Omar Farias owns seven luxury homes.
Samuel Sanchez

Omar Farias Lights, Known as the Venezuelan Insurance Emperor Under the guidance of former President Hugo Chávez (1999–2013) and the state company Petroleos de Venezuela, SA (PDVSA), he acquired seven luxury homes in Madrid, to create a business emporium in the region. According to EL PAÍS’s parenthetical investigation, it dates back to 2010, when 2,000 million dollars (1,827 million euros) were looted from the energy giant.

Jose Maria Irujo and Joaquin Gil

Businessman, who is one of thirty people prosecuted by an Andorran court since 2018 After the massive robbery of the main public firm of the Latin American country, also invested $30 million (27.4 million euros) in a private plane, a boat, and two homes in the Dominican Republic. This is indicated in a confidential report of the Andorran Financial Intelligence Unit (UIFAND) dated December 2022, to which this newspaper has access.

The transaction for the purchase of these assets was ordered from the Private Bank of Andorra (BPA), where the Venezuelan businessman opened a network of 12 accounts in the name of subsidiaries (without activity) created in Panama, Barbados and the Virgin Islands. Had run a racket. British. From these companies, Farias Luces earned millions through internal transfers to offshore companies with accounts in the same banks investigated for the PDVSA robbery. Internal transfers within the same bank have an ambiguity that transfers do not have.

At the age of 62, Farias Luques acquired, in January 2010, through a mortgage, seven luxury houses and four parking spaces in a single building on Claudio Coelho Street in Madrid, in the center of the Salamanca neighbourhood. It is known for the real estate boom of the capital’s Golden Mile. To rehabilitate these properties, he made transfers to the accounts of a Spanish construction company and a renovation company.

The selling price per square meter in the building is currently $8,551 (7,814 euros) and the seven properties – whose surface area is between 85 and 145 square meters – are priced at $6.5 million (six million euros) in the emerging market, according to the Idealista portal. Will be more than.

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