African nations must be allies, not rivals, in a post-pandemic world

By Yamkela Makupula, CEO of the Diaz Reus South Africa office.

In October 2018, when President Cyril Ramaphosa invited investors for the first SA investment conference, I was still a partner at PwC, assisting black firms to expand their businesses through strategic assets.

I was close to concluding one of my biggest deals with a black consortium looking to buy a commercial bank in SA. The consortium comprised former and current top bankers and corporate executives. Halfway through, we hit a funding hurdle.

Can the Northern Triangle Cope With Fewer Remittances?

Zhen Pan, associate attorney at Diaz, Reus: “The decreased need for services in
various industries has caused millions of layoffs, including among migrant workers who engage in service jobs at restaurants and small businesses. The ripple effect of this would be a dramatic fall in remittances to Central America, a region heavily
dependent on remittances from migrants working in the United States.

Swiss court blocks Lauber’s challenge to Fifa probe recusal

Switzerland’s highest court has upheld a ruling that prevents Attorney General Michael Lauber from leading an investigation into bribery and corruption at world football body Fifa.
The Swiss Federal Supreme Court announced on 9 April that in March it rejected Lauber’s attempt to have his case reheard because of comments the judge on the case allegedly made outside of the courtroom.

Fiscal General de Venezuela implicada en caso de corrupción contra empresario venezolano

La Fiscal General de Venezuela Luisa Ortega Díaz presuntamente recibió un soborno de gran tamaño por parte de un contratista de PDVSA para desestimar un caso de corrupción abierto contra las empresas del empresario, según una acusación presentada por la Fiscalía Federal de Miami.
Fuentes con conocimiento del caso confirmaron a el Nuevo Herald que Ortega es la persona identificada como Funcionario Venezolano Número 1 en el juicio contra el venezolano Carlos Enrique Urbano Fermín, quien es acusado principalmente de lavado de dinero y de usar el sistema financiero de Estados Unidos para pagar el soborno.

Sobornos, sobreprecios y traición marcan juicio en Miami contra chavista Motta Domínguez

Luis Motta Domínguez, el ex ministro de Electricidad del régimen de Nicolás Maduro que enfrenta cargos de lavado de dinero en Estados Unidos, presuntamente participó en un millonario esquema de corrupción donde la estatal Corpoelec pagaba hasta tres veces el valor de los equipos que compraba, algunos de los cuales ni siquiera podían ser usados en Venezuela.
La acusación, presentada en la Corte Federal de Miami, también alega que Motta Domínguez y el entonces viceministro de finanzas del ministerio, Eustiquio Lugo Gómez, cobraron sobornos a un grupo de empresarios radicados en Miami para otorgar los contratos valorados en unos $60 millones.

Rafael Callejas — Death by Broken Heart

On April 4th, Rafael Callejas, former president of Honduras, died in Atlanta.
He had been in the U.S. for the last five years as a consequence of the U.S. prosecution of FIFA leaders worldwide. President Callejas was the president of the Honduran Football Association and a member of FIFA’s Television and Marketing Committee. In 2016 President Callejas pleaded guilty in a U.S. court to charges of racketeering and wire fraud. He had used his power and influence as a member of FIFA’s television and marketing Committee to direct contracts to Media World, a PR cum communications firm based in Miami.

Sanctions on PDVSA Need Not Be Permanent

On April 3, 2020, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued General License 13E extending the deadline established by General License 13D for Nynas AB, a subsidiary of Petroleos de Venezuela S.A. (“PDVSA), to conduct certain transactions and activities otherwise prohibited under the Venezuela-related Sanctions. Originally, these transactions and activities had to be conducted before April 13, 2020. With General License 13E, OFAC’s authorization is extended through 12:01 a.m. eastern daylight time, May 14, 2020.