Ricardo Fernández Barrueco

1 Ricardo Fernandez Barrueco
2 Education
3 Business life
4 James K. Glassman(*) – Senator
5 Proarepa Group(*)
6 Rosario Marin(*) – Treasurer of US.
7 References

Ricardo Fernandez Barrueco

(born on April 9, 1965 in Caracas) is a Venezuelan, son of European immigrants who, fleeing the horrors of the Second World War and the Spanish Civil War, settled down in Venezuela, Mexico and Argentina. Early business In the early '90s, was a medium businessman of the agribusiness sector dedicated to the production of sugar cane, corn and rice. Fernandez continued processing companies acquired in the government of Rafael Caldera(*) as the Proarepa Group(*), belonging to the Agricultural Marketing Corporation. At that time he participated in the privatization process sponsored by the Investment Fund of Venezuela for the acquisition of two sugar mills.

Education

Ricardo Fernandez Barrueco studied economics at the UCAB(*) and highlighted as a businessman at a young age.

Business life

In 1998 the businessman had major investments not only in Venezuela but in the U.S., Panama and Ecuador. It becomes the largest producer of corn, rice and tuna from Venezuela, and the second in production of meat, owner of the largest logistics company in the country and second in Latin America, owner of a shipowner and owner of oil tankers and asphalt private, with a very modern fleet, plus a fleet of five larger and more important in the world. It is also a partner in multinational companies.

Later, Fernandez Barrueco, following an invitation made the Venezuelan Government, invested in the financial area, to try to recover liquidity problems faced by the institutions Banpro, Bolivar and Confederate.

The businessman wanted to enter the cell phone business and telecommunications, buying the company Digitel(*), which has more than 6 million customers and compete with major carriers operating in the country as Telefónica and Movilnet (property of the government). In this new area is where the businessman would dedicated investment efforts, under which Banks would be a transition to clean up the institutions and then sell them as had been agreed with the government. The purchase of Digitel(*) GSM, for a total $830 million to businessman Oswaldo Cisneros, was paralyzed by the intervention made by Banks and Companies.

After investing their own resources and not to allow him to take management control of financial institutions, Banks were intervened by the government during the Venezuelan banking crisis of 2009-2010(*), Fernandez Barrueco decides to voluntarily appear in court due to this situation in November 2009, when is arrested and detained. It was not until July 2010 that he was falsely accused of fraud and charges of violations of the banking system. Since then remains in the custody of DIM - Directorate of Military Intelligence, without a judgment has occurred.

The businessman's defense, led by Gaston Saldivia lawyer, ratified the accusation of the defense against the superintendent of Banks, Edgar Hernandez Behrens, making him responsible of the fall of the four involved bank entities. The fundamental argument of the defense is that Fernandez Barrueco was never allowed to exercise control over the institutions that had bought through the Caracas Stock Exchange. The businessman had sought the presidency in the first three acquired entities (Bolivar, Banpro and Confederate), but the request was denied by the Superintendency of Banks - Sudeban.

James K. Glassman(*) – Senator

Senator James K. Glassman(*) on the site Forbes.com(*) likens the case of Fernandez Barrueco with that of Mikhail Khodorkovsky, former CEO of energy giant Yukos(*) and a staunch critic of Russian President Vladimir Putin. The senator affirms that Chavez had responded to the symptoms of lost of popularity, closing media, restricting economic freedom, accusing his critics and sending to jail his political opponents and big businessmen. Among them, jailed Oswaldo Alvarez Paz, a former Venezuelan opposition governor of Zulia State. In May, Retired General Raul Isaias Baduel (former Minister of Defense of Chávez and now its hard critic); issued an arrest warrant for Guillermo Zuloaga, the biggest shareholder in Globovisión(*), a company called "the last great television network, survivor in the country that sympathize with the opposition”. The pattern is clear. As in the case of General Baduel, the charges against Zuloaga were economic and political. At the same time it issued the arrest warrant of Zuloaga, the government also took control of the Federal Bank, claiming the bank was not completing the liquidity requirements. Nelson Mezerhane, president of the bank, is itself one of the largest shareholders of Globovision(*), and the Wall Street Journal(*) reported that the connection with Zuloaga was "the main reason why the bank was intervened". Mezerhane also left the country.

Unlike Zuloaga and Mezerhane, the prominent industrialist, banker and owner of a food chain, Ricardo Fernandez Barrueco, is languishing in jail. All assets, tuna fishing boats, fletes of trucks, and shares in companies such as National Mills, among others, have been confiscated by the government and have been placed under the control of the Socialist Production Units (UPS). At the present, all these confiscated companies are collapsed by the faulty operation. Have been looted, cannibalized their equipment, which creates anxiety among employees and associated producers. The estates have been stolen, at the level that the amount of the damages is ignored. Fernandez Barrueco had the second livestock genetics and production in the country. The fertile lands are unproductive today. Fourteen years of work are dramatically lost.

Proarepa Group(*)

Proarepa Group(*), owned by businessman, was officially one of the largest providers of Mercal, which is subsidized Venezuelan chain of supermarkets owned by the state, during the oil strike in Venezuela (2002). The businessman quickly rose to fame when he offered his assistance to the Chavez government by providing them with their fleet of vehicles for oficial use. It has also been demonized by the opposition side for their committed participation in the recovery of the country food. Fernandez Barrueco has made clear that his wealth comes from work and entrepreneurship, has not received credit, Money or government subsidies or public finance system. Their companies have been audited by U.S. agencies and have demonstrated that their growth and sustained funding comes from working in the agricultural and industrial development.

Rosario Marin(*) – Treasurer of US.

Former Treasurer of United States Rosario Marin(*) to express concern about what happens says(*) Ricardo Fernandez Barrueco is just one more of the victims of the policies of the government seizure of private businesses and the arrest of political prisoners, found in Venezuela. Initially the program was selling government food distribution and logistics business grew to include stores and trucks around the country. However, as has happened with many other successful businesses that provided jobs and a public service, Chávez has interfered. In November 2009, seizures of assets of Mr. Barrueco and logistics business was nationalized and placed under the unity government United Socialist Production. A Ricardo, says former treasurer, he was sent to prison to avoid complaining and remains there today. And he wonders why behind bars just some of the most productive citizens of Venezuela?, Is it because they are supporters of the idea of personal improvement rather tan government dependency?, Is it because they depend on government largesse?. So, do they represent a threat to the status quo?