Salvadoran court protects one of country's wealthiest citizens
I have written earlier about the case of Valat International Holding, which has been pursuing a judgment of $30 million rendered against on of the wealthiest families in El Salvador. Now the Miami Herald reports on a ruling in the Salvadoran courts which smacks of favoritism:
The Supreme Court of El Salvador has ruled that Oscar Antonio Safie Sacarias, one of the richest and most influential men in El Salvador, does not have to pay a $30 million judgment ordered by a Miami-Dade Circuit Court judge.
The Salvadoran ruling also covers several of Safie's family members, and has been met by accusations of manipulation and favoritism.
In the United States, warrants have been issued for the arrest of Safie and the family members.
They are accused of being in contempt of the Miami-Dade court, and they could face perjury charges for saying they had no bank accounts in the United States, according to court documents obtained by El Nuevo Herald.
Safie is a Salvadoran media and textile mogul.
He owns of one of the most prominent hotels in El Salvador's capital, San Salvador. And he is the first cousin of El Salvador's attorney general, Felix Garrid Safie.
In October 2006, Miami-Dade Circuit Judge Mindy S. Glazer ordered the Safie business group to pay $30 million to Valat International Holding, an Irish financial firm that had arranged through the Federal Deposit Insurance Corp. to purchase and restructure the debt of the failed Hamilton Bank. (more)