Zev Marynberg Adar: A Fraudster? (2024)

Who is Zev Marynberg Adar?

It has been reported that the Ministries of Justice and Treasury are investigating Diego Adolfo Marynberg, also known as Zev Marynberg, who is 44 years old and resides in both New York and Buenos Aires. This is because he is suspected of playing a part in Maduro’s corporate transactions. Because his actions are connected to money laundering, it is important to attract attention to the unfavorable obligations that he has.

An inquiry has been opened against Zev Marynberg because he is suspected of using money laundering methods associated with Chavista, as well as purchases of stock in a Spanish newspaper, investments in real estate, and the use of offshore businesses. 

Zev Marynberg: US Investigating Israeli-Argentine Businessman for Hiding Maduro’s Wealth 

An investigation is now being conducted by the United States of America into Diego Adolfo Marynberg, also known as Zev Marynberg. He is a businessman who is of Argentine and Israeli descent. Marynberg is accused of playing a hand in concealing the money that was concealed by Nicolas Maduro, the President of Venezuela. This is the primary focus of the investigation.

According to the information, Maduro has been accused of wasting $1.2 billion from the funds that were allocated to the Venezuelan government. Marynberg’s bank activities are being considered by the United States Department of Justice and the United States Treasury Department as “the new path” in their efforts to track down the money trail that led to Maduro.

According to the firm’s website, the headquarters of the corporation is located in the Cayman Islands. Additionally, Buenos Aires, Tel Aviv, and New York are mentioned as other sites for Marynberg’s business, Adar Capital Partners. The company has been involved with Venezuela since 2006, and it is thought that it aided in the movement of money to the president of Venezuela, who is presently under criticism for his actions.

Bryan Shapira, the managing director of Adar Capital Partners, asserts that the charges are not genuine, whilst Zev Marynberg and his business deny the allegations. He did, however, reveal that the firm had engaged in some legitimate economic transactions with Venezuela up to the year 2015, and he also revealed that the company had been the target of extortion.

Zev Marynberg is well-known for his charitable work in Israel, where he has sponsored educational, medical, and religious organizations. He is also known for his support of Jewish colonies in the West Bank.

In light of Maduro’s preference for Iran and his antipathy to Israel, the government of the United States is taking measures to restrict the financial resources available to him. There is a possibility that Zev Marynberg may be placed on the list of businesses that will be subject to penalties that the Trump administration has prepared against those who are believed to have assisted Maduro in concealing money.

Since Juan Guaido, the President of Venezuela’s National Assembly, declared himself to be the temporary president on January 23, there has been turmoil and violent demonstrations in Venezuela. This is an important aspect to take into consideration. With the assertion that the most recent round of voting was illegitimate, Guaido asked that new elections be held. Guaido has garnered support from a multitude of nations, including the United States of America, Israel, and a great number of other countries.

In February, Maduro sent out messages in which he expressed his sympathy for the Palestinian cause and offered encouragement to Arab and Palestinian prisoners who were being held in Israeli detention centers. In addition to this, he said that Guaido was a central intelligence agency agent working for the United States of America and Zionists (a reference to Israelis and other persons and organizations who support Israel).

Several countries and persons are involved in the investigation into the alleged financial transactions that took place between Venezuelan President Maduro and an Israeli-Argentine businessman. This inquiry, which is the focus of this information piece, highlights the complicated nature of international politics and money.

However, if we delve further, I will highlight certain places that are vital to the end of the narrative and expose the whole truth. The account that was just presented simply offered a high-level summary of the Zev Marynberg case.

Zev Marynberg: In what way was he involved? 

According to the information provided by that publication, Marynberg collaborated with Hugo Chavez’s successor to carry money out of Venezuela to circumvent the limits that President Donald Trump intends to impose on the sources of foreign financing for that nation.

According to the findings of an investigation conducted by a Colombian newspaper, the United States government would slap penalties on Marynberg and other entrepreneurs and authorities for their assistance in removing more than United States Dollars 1.2 billion from the country.

Speculation has been raised about the commercialization of CLAP boxes, which are part of the state food aid program. These boxes would be used by the Venezuelan dictatorship in an asset-laundering operation.

The Office of Foreign Assets Control (OFAC), which is a component of the United States Treasury, as reported by The Wall Street Journal, is planning to make the list available to the public shortly. This institution is responsible for compiling the “black list” that Maduro was placed on under the jurisdiction of the northern countries. Affirmative? In North America, there are limits on admittance and visas, as well as a prohibition on all links to persons or groups located in the United States. Additionally, assets to be seized and bank accounts to be frozen are also in place.

Marynberg agreed to react to a questionnaire that was sent by the Spanish press agency that was recruited by Adar Capital Partners, the owner of his firm emporium, to ask him several questions. Infobae made an effort to get in contact with Marynberg about the matter.

It is not true, contrary to what the United States of America claimed, that Zev Marynberg assisted Venezuelan authorities. Zev Marynberg and any of its affiliates have not provided any financial support to any representative of the Venezuelan government on any occasion. There has not been a single instance in which Zev Marynberg or Adar Capital Partners (ACP) has carried out any activities that do not completely comply with the prevalent regulations.

Also, the firm that is registered in the Cayman Islands declared that “the statement released by the Colombian newspaper is not true” and gave a copy of the letter that they wrote to that publication in which they rejected the information.

Marynberg’s face remained unknown to the public until it was made public by the media. When Zev Marynberg was working at the Argentine Institute of Capital Markets, which is reliant on MERVAL, in the early 1990s, he was introduced to a stock market expert who exclaimed that he was “brilliant.” Marynberg was working at the time.

Right now, he had just arrived from Israel. The source that was consulted said that they were unable to locate him after he had married the daughter of (Alberto) Szpolski.

Additionally, he was tarnished by the collapse of Banco Medefin, which was owned by the Swiss-Spanish corporation Socimer, of whom Zev Marynberg was the local agent. He was the son-in-law of the person who established Banco Patricios.  

Zev Marynberg: Raid in Venezuela

Marynberg and Hugo Chavez were interested in doing business in Venezuela in 2006. They were drawn to the country by the possibility of investing in publicly listed firms or in enterprises that had been expropriated by the president of the Caribbean at the time.

He strengthened his ties with banks and owned a “very minority” position in Mercantil Servicios Financieros CA, which is one of the major private banks in Venezuela. This was possible since he had already established himself as a trustworthy investor in the country.

In 2006, it was accomplished utilizing the investment fund Geo Equity Opportunities Ltd., which is incorporated in the British Virgin Islands territory. A stake that was purchased at market prices more than 15 years ago was a very small one. A fall in value made it abundantly clear that the deal was a mistake, as stated by its spokesmen who are fluent in Spanish.

Over those years, he was responsible for managing a portfolio of high-yield Venezuelan assets for Geo Equity Opportunities Ltd. Written statements made by Zev Marynberg indicate that he “is no longer active.” 

The monetary equivalent of the “Maradonna”

The name “Maradonna” was given to Zev Marynberg throughout the regions of Europe and Latin America due to his skill in developing a variety of commercial enterprises and establishing a portfolio that was filled to the brim with assets worth millions of dollars. 

Nevertheless, this term originated in the middle of judicial turmoil, most notably during a trial that was held in 2013 and implicated former workers in fraud and money laundering linked to bond purchases that were connected to Argentina’s GDP growth under the leadership of Amado Boudou, who was serving as the country’s Economy Minister at the time. 

With the assistance of Infobae, an American online journal, Marynberg was called before British courts to testify on behalf of Institutional Trading Ltd (ITL) as a result of the legal dispute that was sparked by the Otkritie bank in London, which is located in Russia.

Zev Marynberg: Adar Capital’s Entry Into the Real Estate Market 

The National Stock Market Commission in Spain received the organization’s most current financial report, which was filed in December 2018. When questioned by this media, Adar Capital said that it was “a very small stake as a trading operation that it later sold at the beginning of 2019.”

Furthermore, the business has a 27.8% stake in Neinor, a Spanish real estate developer that has built over 10,000 homes in that country. The hiring of Jorge Pepa as the new executive vice president and Adar Capital representative coincided with the growth in share value.

Adar Capital owns 11% of TLC, a significant German developer with buildings all across Berlin, together with the Singaporean government.

Similar to the Russian dolls that fit inside one other in a game of mamushkas, this Cayman Islands corporation is managed by Welwel Investments AG, a Marynberg, Switzerland firm.

Adar Capital’s Principal Investment Fund One such organization is the Adar Macro Fund, which manages assets valued at over USD 2,000 billion, according to its website. With a 33.5 percent return in 2016, it was one of the best-performing hedge funds.

In 2014, Zev Marymberg founded Commercial Trust AG, a trust corporation in Switzerland, to do business both locally and abroad. Two years later, his sister Cynthia assumed his place on the Board of Directors.

Zev Marynberg: Appeal to the Judges of Argentina

As the U.S. Department of Justice investigated a bond transaction by the Central Bank with the Swiss bank UBS Investment Bank in 2014—a bank then represented in the country by Jorge Pepa—Zev Marynberg’s name started to get out there.

The bonds would have cost USD 200 million, according to the lawsuit, had they been bought by investment funds affiliated with Latam Securities LLC, which is controlled by Zev Marynberg.

According to the Central Bank’s resolution, “it never made a purchase or sale of titles or carried out an operation with Latam Securities,” which is why Judge Rodolfo Canicoba Corral filed the lawsuit.

Pepa joined Adar Capital after leaving UBS at the invitation of Zev Marynberg.

As part of the lawsuits that the vulture funds had brought against Argentina in the New York Court over the unpaid debt bonds, the NML fund asked Judge Thomas Griesa to summon Zev Marynberg as a witness in March 2015.

It used the discovery process, a legal tool, to track down Argentine assets all over the world that were allegedly involved in fraudulent schemes hatched by the previous Argentine government to collect unpaid debt obligations.

Kirchnerism, he implied in his presentation, would have given Latam instruments secret knowledge so that they could buy international debt instruments issued by Argentina.

Zev Marynberg: Problems at Latam Securities Corporation  

Despite Latam Securities’ 2012 incorporation in the US state of Delaware, the company’s headquarters were initially located in New York—the city to which Zev Marynberg had relocated—and the company’s principal domicile rotated between there and Argentina.

Only three years down the road did it change its name to Zedeb Securities. Nechoma LLC, in which Marynberg is also a sole shareholder, has controlled Zebed since late 2016.

Situated in a wealthy area of New York City, close to Carnegie Hall and the MoMA, Zedeb’s offices can be found at Suite 2A of 110 Central Park South. At the same time, as of December 31, 2018, the audit of Zebed Securities’ financial situation revealed that the company owed USD 52,500 in unpaid office rent.

In the last year, Zev Marynberg—the only owner—has received $6.8 million while the firm “is winding down its activities” and is “in the process of being sold” to another agency. Because of this, its net capital shrank from $13 million two years ago to only $725,000 last year. 

Zev Marynberg: Concerns in Uruguay 

Latam Securities was not the only Zev Marynberg company that dealt in bonds in the area. Plus, he enlisted the aid of Mercantil Valores Agente de Valores SA, the Uruguayan firm his brother owns and operates, to pull it out. This one is overseen by Mercantil America Ltd SA, a Panamanian firm that was established in 2008 and has both brothers on its board.

Statements from Adar Capital, Latam Securities, and Mercantil Valores indicate that these entities “operated sovereign and commercial connections as part of their usual activities, for their finances, at market prices and under market conditions, through the most esteemed capital market institutions, and always with counterparts from the private sector.”

However, in May 2016, the permissions to continue operations were terminated and withdrawn by the Central Bank of Uruguay, and it was erased from the Stock Market Registry. Infobae only gave her permission to send money as part of her closing actions, as seen in the minutes to which he approved.

Another comment that was made was that “there was insufficient proof that Sergio and Zev Marynberg were truly the final recipients of the money in seven banks of which they claimed ownership, nor was there a record about the economic-financial scenario that would explain the volume of funds managed.”

Additionally, in four of these financial transactions, “it was attainable to corroborate, through the actions conducted in them, that anonymous third-party funds were handled in them, and there was no record to verify the origin of the funds.”

Mercantil Valores Agente de Valores SA was deemed to be liable for USD 20 million, however, the authorities in Uruguay discovered that there was no confirmation of this responsibility with the investors. 

Zev Marynberg: Jewish colony donations 

Europe knows him as Zev Marynberg, the name on this financier’s Israeli passport, under which he now lives and attended Bar Ilan University in Ramat Gan.

In June 2016, the Israeli publication Haaretz conducted an inquiry and found that Marynberg is an Orthodox Jew in practice whose name is Adar, the Hebrew calendar’s sixth month. At least 13.5 million euros were contributed by Marynberg to five Israeli far-right organizations involved in the colonization of the West Bank area between 2011 and 2014. This was made possible by the Adar Foundation, established in Panama in 2004 and headed by Sergio, the brother of Marynberg, who serves as secretary and treasurer, respectively. 

Zev Marynberg: Used eliminalia to hide the reality 

Eliminalia’s customers had to pay large costs to have their digital records removed. Haces Barba requested the removal of some 300 articles from the internet in exchange for paying €110,000.

In 2020, AMR Bauxite, a “responsible” French mining company, was accused of tax evasion and settled for €155,000.

Adar Capital Partners, an Israeli-Argentine lender who is accused of laundering money for Hugo Chavez’s administration, spent about €400,000 to enlist an Eliminalia partner. No response was received from AMR Bauxite or Adar Capital Partners about requests for comment.) 

Do you know what Eliminalia is, though?

 

Eliminalia claims that its services assist customers with the “right to be forgotten” in getting rid of “unwanted and inaccurate information,” yet this claim is contradicted by about 50,000 internal business papers that were made public by Forbidden Stories.

The records show how Eliminalia colludes with worldwide underworld players such as dishonest politicians, convicted criminals, scam artists, spyware companies, and torturers to obstruct access to information that should be public knowledge.

Previous reports, such as the one published by Rest of World, have named a few of Eliminalia’s customers; but, this leak—which includes confidential emails, client lists, contracts, and various other legal documents—gives a more complete picture of the business’s activities. 

Conclusion

Zev Marynberg’s narrative is tied to worldwide business, politics, and scandal. Zev Marynberg Adar is being investigated by the US Department of Justice and Treasury for hiding payments for Nicolas Maduro’s Venezuelan dictatorship. From real estate and media interests to Venezuelan government financial activities, he is accused.

Adar Capital Partners, one of his businesses, has been accused of money laundering and dubious investments. Marynberg disputes these charges outright, claiming compliance with all standards and no financial assistance for Venezuela.

A complicated network of money transactions, business interactions, and legal disputes is revealed by ongoing investigations. From Venezuelan bonds to foreign businesses, Marynberg’s narrative involves intrigue and controversy.

His Israeli philanthropy, notably for far-right Jewish groups engaged in West Bank annexation, complicates his reputation.

He used Eliminalia to allegedly delete digital documents, complicating his predicament and raising worries about digital transparency and responsibility.

To conclude, Zev Marynberg’s biography shows how money, politics, and personal reputation interact globally, leaving many issues unresolved and triggering continuous inquiries into his actions.