In order to own part of an issue, one must buy the tranche. Rufus and Conversion Solutions never owned any of the bonds and Medium Term Notes.
Ever.
Second, there was no $500 Million Venezuelan bond. The $5 Billion bond was real....but never owned by these people. There was a $700 Million EURO bond that was real, but again, never owned by these people.
Caracas Group and Ismet Paez are scammers from Maricaibo who try to broker counterfeit bonds. These bonds either do not exist, or in the case of 2008, Ismet was caught trying to sell a Brady Bond that was owned by Mrs. Lili Bello of INBOCA.
Bogus bonds and other bank securities can be found all the time. Hell, I can show you a bogus $1 Billion HSBC Mexico certificate of deposit someone approached my company with.
I told you before that Rufus did not own an Euroclear account. Individuals from the U.S. cannot own EUROCLEAR accounts. You must be approved by EUROCLEAR and you must have a company with a banking history showing your institutional background. Most U.S. company's also must have a U.S. bank as a reference when you apply for a EUROCLEAR account. Rufus had neither.
If he did, he would have seen the Venezuelan bond was bogus. You can verify a real bond/MTN by having your receiving bank send a SWIFT MT-999 message back to the originating bank. Joker-brokers like Rufus do not know how to do this.
You can find a dozen wannabe's like Rufus on websites like Bradynet or Topix or Network54 Banking Forum.
In order to "own" a bond or MTN, the bond or MTN would have been blocked in favor of Conversion Solutions and there would be a SWIFT MT-760 confirmation letter. Rufus has no SWIFT confirmation letters and cannot produce any.. considering the Venezuelan bond does not exist and the MTN's were hybrids already owned by other people.
All MTN's listed on EUROCLEAR show who is the owner on Page 3 of the EUROCLEAR print out. That alone kills any defense Rufus thinks he is going to pull.
The red flags are right in front of people's faces yet people continue to try and make excuses for Rufus all the time.
Let's say Rufus tried to claim he leased the bonds for credit enhancement. Claiming ownership while in reality being only a beneficiary under a REPO agreement is still a criminal offense.
Anyone with a banking background could have exposed Rufus in a heartbeat.
