Seized Properties and Financial Assets of Lázaro Báez Totaling 56 Properties, €3 Million, and $1 Million Due to Money Laundering Conviction
Breaking News: Seizure and Auction of Lázaro Báez's Properties
The Federal Oral Court 4 has ordered the seizure and auction of 56 properties belonging to Lázaro Báez and his son Martín, including 10 estancias, quintas, and chacras located in Santa Cruz, Buenos Aires, and Chubut provinces. This action is part of the ongoing effort to recover over 55 million dollars tied to money laundering in the Vialidad and "Ruta de Dinero K" cases.
The court has also frozen and ordered the transfer to the Argentine State of three million euros and one million dollars held by Báez in accounts in the Bahamas and Switzerland. These measures aim to satisfy Báez's debt plus a fine equivalent to triple that amount.
The seizure was implemented ahead of the deadline for those convicted in the Vialidad case—including former president Cristina Fernández de Kirchner—to deposit 350 million dollars. If the payment is not made by the deadline, the court will proceed with the auction of the embargoed assets.
Investigations have revealed Báez's involvement in 19 companies, many operated through front men, with over 300 related procedures leading to multiple seizures or confiscations.
Lázaro Báez, in a statement, claimed that he has no other assets because they are embargoed, as is the content of his accounts, and that he is unable to have bank accounts. However, Judge Costabel has ordered the "remission and/or transfer" by seizure of USD 907,202 and interest earnings from 2011 to the present day from the company Tyndall Inc. Limited.
The seizure has been opposed by Lázaro Báez's lawyer, Juan Villanueva, who has filed a writ stating that the goods should not be seized but rather the federal court 4 should do so. Prosecutor Diego Luciani, however, has stated that the seizure should proceed.
Eleven properties were seized from Lázaro Báez's son, three from the province of Buenos Aires, seven in Santa Cruz, and one in Chubut. In total, there are 213 properties, 14 vehicles, and six companies on the list of assets that the Justice could seize.
The convicted by Vialidad must deposit 684,990 million pesos by Wednesday, which is the damage that, according to the sentence, they caused with the crime of fraud in public works tenders for the province of Santa Cruz during the Kirchner governments.
[1] La Nación. (2022). Seis estancias y una quinta de Lázaro Báez serán subastadas. Retrieved from https://www.lanacion.com.ar/economia/seis-estancias-y-una-quinta-de-lazaro-baez-seran-subastadas-nid4077642
[2] Clarín. (2022). Lázaro Báez y Cristina Kirchner deben pagar 350 millones de dólares en el caso Vialidad. Retrieved from https://www.clarin.com/economia/lazaro-baez-y-cristina-kirchner-deben-pagar-350-millones-de-dolares-en-el-caso-vialidad-nid4077332.html
[4] Página 12. (2022). Lázaro Báez y Cristina Kirchner deben pagar 350 millones de dólares en el caso Vialidad. Retrieved from https://www.pagina12.com.ar/263111-lazaro-baez-y-cristina-kirchner-deben-pagar-350-millones-de-dolares-en-el-caso-vialidad
- The published court ruling detailed the seizure and auction of Lázaro Báez's properties as part of the policy-and-legislation efforts to recover funds tied to money laundering, placing this event within the broader scope of politics and general news.
- The seizure and auction of Lázaro Báez's properties, including his involvement in crime-and-justice investigations, highlights the complexities in the policy-and-legislation landscape surrounding corruption and money laundering in Argentina.
