More than a dozen Venezuelan entrepreneurs have turned to South Florida civil courts seeking to recover millions of U.S. dollars they claim they are owed for investments made with Venezuelan bolivars. Many say they got scammed on investments prompted by Venezuela’s restrictions to foreign currency. The faulty transactions — at least in one case — stem from the acquisition of underpriced dollars sold at the official exchange rate. In one of the lawsuits, 12 plaintiffs accuse Miami-Dade residents Carlos Eduardo Mendoza and Efraín Betancourt, managers of Yupi Holdings in Aventura, of keeping 78 million bolivars in loans made in 2012 in Venezuela. The defendants claim they are owed about $8 million that should have been deposited in American bank accounts under the loan agreement with Yupi Holdings. More...
Monday, February 3, 2014
Venezuelan businessmen turn to Miami courts in currency exchange disputes
More than a dozen Venezuelan entrepreneurs have turned to South Florida civil courts seeking to recover millions of U.S. dollars they claim they are owed for investments made with Venezuelan bolivars. Many say they got scammed on investments prompted by Venezuela’s restrictions to foreign currency. The faulty transactions — at least in one case — stem from the acquisition of underpriced dollars sold at the official exchange rate. In one of the lawsuits, 12 plaintiffs accuse Miami-Dade residents Carlos Eduardo Mendoza and Efraín Betancourt, managers of Yupi Holdings in Aventura, of keeping 78 million bolivars in loans made in 2012 in Venezuela. The defendants claim they are owed about $8 million that should have been deposited in American bank accounts under the loan agreement with Yupi Holdings. More...
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