PdV in legal bid to recover pension fund assets

摘要

Venezuela's state-owned PdV confirmed on 18 March that it is taking legal action to recover over $540mn in company pension fund assets that may have been lost in a Ponzi-style scheme operated by Venezuelan-US financial hedge fund adviser Francisco Illarramendi. Illarramendi ?who was arrested by FBI agents in Florida on 3 March and then pleaded guilty six days later to various charges of fraud ?is a former senior financial adviser to PdV and Venezuela's finance ministry and had been responsible for managing PdV's pension fund, according to officials with the FUTPV oil and gas workers union.