Caracas Chronicles

Photo: María Alesia Sosa

Today, imposed Prosecutor General, Tarek William Saab, declared that the Public Ministry has arrest warrants for Banesco Venezuela’s CEO Oscar Doval, along with 10 other executives and high-ranking employees, to make sure “(Banesco’s) activities are done in strict accordance with law.”
As of now, the warrants name Doval, vice-presidents Jesús Irausquín, Carlos Lorenzo, Pedro Pernía and Belinda Omaña, legal adviser Marco Ortega, director Liz Sánchez, managers David Romero, Cosme Betancourt, Teresa De Prisco and ODC Carmen Lorenzo.

1/2 FGR @TarekWiliamSaab: El MP solicitó órdenes de aprehensión contra el presidente ejecutivo, Oscar Doval, los vicepresidentes Jesús Irausquin, Carlos Lorenzo, Pedro Pernía y Belinda Omaña, así como el consultor jurídico, Marco Ortega

— MinPublicoVE (@MinpublicoVE) May 3, 2018

2/2 FGR @TarekWiliamSaab: Adicionalmente, para la directora Liz Sánchez, los gerentes David Romero y Cosme Betancourt, además los oficiales de cumplimiento Teresa De Prisco y Carmen Lorenzo

— MinPublicoVE (@MinpublicoVE) May 3, 2018

FGR @TarekWiliamSaab agradece la colaboración del Poder Judicial, la Sudeban, el Sebin y la Dgcim por sus actuaciones en el desmantelamiento de un sistema financiero paralelo que tanto daño ha hecho a la nación

— MinPublicoVE (@MinpublicoVE) May 3, 2018

FGR @TarekWiliamSaab: El objetivo de esta operación es sanear y adecentar las actividades bancarias para que se hagan en estricto apego a la ley

— MinPublicoVE (@MinpublicoVE) May 3, 2018

It was reported yesterday night that Banesco Venezuela’s board of directors was interrogated at a military base by Counterintelligence officers, all part of “Operation Paper Hands”, the government’s response to an alleged conspiracy to undermine Venezuelan economy, with dozens of arrests and lots of confiscated foreign currency.

According to data by Venezuela’s banking-regulating entity, Sudeban, 25% of all bank deposits in the nation are done through Banesco, including those coming from government institutions.

Banesco and its owner, Juan Carlos Escotet, have clashed many times with the chavista government, especially with constituyentista Diosdado Cabello.

IMPORTANTE Diosdado Cabello sugiere que Nicolas Maduro aprobó a Banesco dólares preferenciales para comprar bancos en España… pic.twitter.com/DErecGv17n

— Humberto Gonzalez (@humbertotweets) January 11, 2018

Though still too early to tell, it wouldn’t be shocking if Banesco followed the same steps  overnight than Banco de Venezuela, Banco Federal and Banco del Caribe, turning into the newest knot in the tangled web of government-owned banks.