Monday, 18 April 2016



Corruption in ARGENTINA is one of the biggest challenges currently facing the country. It is estimated that corruption cost the ARGENTINE economy over US$8.2 billion over the last 30 years.

Argentina ranks 107 out of 175 in Transparency International´s Corruption Perceptions Index, far behind its neighboring countries, URUGUAY, CHILE and BRAZIL.

Recently elected President MAURICIO MACRI said in his inauguration speech that he “will be implacable with corruption”. He has made the fight against corruption a top priority for his administration.

Only 5 month in office, the new administration under the helm of MAURICIO MACRI the self-proclaimed anti-corruption advocate, has been named in the PANAMA LEAK. He is the only LATIN AMERICAN head of state mentioned in the PANAMA PAPERS.


The PANAMA PAPERS revelations is intensifying the scrutiny on the MACRI family's assets and involvement with offshore companies.

The involvement of ARGENTINE President MAURICIO MACRI in an offshore company in BAHAMAS, revealed by the release of the PANAMA PAPERS, is currently making headlines all over the world. But MACRI is far from being a first timer in offshore operations.

1. MAURICIO MACRI was the vice president of FLEG TRADING Inc.
The PANAMA PAPERS leak revealed MAURICIO MACRI was the vice president of a company called FLEG TRADING Inc. located in the BAHAMAS. The president of the company was his father, FRANCO MACRI, one of ARGENTINA’S most prominent businessman.     

The company was established in 1998 and was active until 2008, when MACRI was the BUENOS AIRES city Mayor. However, while MACRI was in office he did not declare he was a board member of FLEG TRADING Inc. 

2. MAURICIO MACRI was vice president of KAGEMUSHA SA, located in PANAMA.      
But this was not the first time for the MACRI family in matters of operating with offshore companies. KAGEMUSHA SA, named after a JAPANESE movie, was established in PANAMA earlier in 1981.

In that company, President MACRI also appears as vice president with his father FRANCO as the head of the firm. One of MAURICIO MACRI’S brothers, GIANFRANCO, appears as secretary.    

3. MAURICIO MACRI was president of BOCA JUNIORS and the club’s offshore bank accounts.

ARGENTINA’S most important soccer club, BOCA JUNIORS, also appears in the PANAMA PAPERS. According to the documents, it is one of the 20 biggest sports clubs in the world with offshore financial operations.     
When asked about the club’s offshore bank accounts, BOCA JUNIORS’ president DANIEL ANGELICI said “those accounts were not opened under my presidency, they were opened 20 years ago.” The thing is BOCA JUNIORS’ president 20 years ago was no other than MAURICIO MACRI, who won the club’s presidency in 1995.   

However, ANGELICI, who happens to be a member of MACRI’S coalition, also admitted to owning a company located in PANAMA.     
4. MAURICIO MACRI’S brother and his eight companies in PANAMA.         

GIANFRANCO, one of MAURICIO MACRI’S brothers, owns eight companies in PANAMA. Despite not being part of FLEG TRADING Inc., he is a board member of KAGEMUSHA SA since 1981.     
According to economist EZEQUIEL ORLANDO, who has done research on the MACRIS’ links to offshore companies, five out of the other seven companies in which GIANFRANCO MACRI is a board member were established in December 12, 2007, only two days after MAURICIO MACRI became the mayor of BUENOS AIRES.  

5. MAURICIO MACRI and his father prosecuted for contraband

In 1993 SEVEL, a car manufacturer in ARGENTINA owned by the MACRI family, was selling auto parts to its URUGUAY branch and then re-importing them. This reportedly allowed SEVEL to collect reimbursements for car exports that were not true exports.      

The whole operation represented a seven million dollar profit for SEVEL while helping it evade taxes for $14 million dollars only in 1993. After being taken to court in 1997, MAURICIO MACRI and his father FRANCO were prosecuted for contraband in 2001.      


The charges, however, were dismissed by ARGENTINA’S Supreme Court Justices, who at the time held close ties with former neoliberal President CARLOS MENEM, whom was defined by MAURICIO MACRI in a television interview as “a man who rebuilt the country.”       
Two of the judges that dismissed the charges were later removed from the Supreme Court for blocking the judiciary’s work in the case that involved the MACRI family.         


The word clan defines a group of people united by a common interest. This concept is appropriate to describe the family and friends of President MAURICIO MACRI, who share a common interest in offshore companies, preferably located on CARIBBEAN islands suitable as tax havens. MACRI’S brother, GIANFRANCO MACRI, according to valid documents, runs 8 active offshore companies. MAURICIO'S cousin, JORGE MACRI (mayor of VICENTE LOPEZ, a suburb of BUENOS AIRES) also emerges as the beneficiary of an offshore company.

Furthermore prosecutor FEDERICO DELGADO revealed that new data has been made evident, which indicates that MACRI is linked to another offshore company incorporated in PANAMA, under the name of: MACRI GROUP PANAMA.

Published documents show the company was registered in the PANAMANIAN Public Registry of Commerce in May 2010 through MOSSACK FONSECA. Company board members included MIGUEL ANGEL ALVAREZ, president and director; ABELLI LUIGI CARLO CAPPELLI, director, vice president and secretary, and FERNANDO PLANS VILLAMARIN, as director and treasurer.


Months later the company changed its name to METRO CONSULTING PTY, opened an account in SWITZERLAND, and allegedly started the process to dissolve in late 2015.

Allegedly the company was formed in connections with MACRIS controversial METRO BUS system, while he was mayor of BUENOS AIRES.  Critics of the traffic flow system for busses claim MACRI used construction companies with ties to his family businesses. Environmentalist’s criticized MACRI for cutting down more than 200 trees that decorated the broadest Avenue in the world, “9 de Julio” which is the landmark of the city of BUENOS AIRES and ARGENTINA.  

Within the inner circle of the clan, it is known that CAPELLI fosters close ties to MARCI’S father, FRANCO MACRI. He was employed by the official postal service CORREO ARGENTINO between 2001 and 2015, and held management positions in companies related to the administration of the BELGRANO CARGAS between 2006 and 2013.

The MACRI clan had been part of the “homeland contractor” under the MENEM administration and administered the ARGENTINE postal services CORREO ARGENTINO, which was privatized under MENEM. During, and with the help of the military dictatorship, the MACRI family had managed to transfer private debt of their companies to the state. 


In ISLAND the head of state had to resign, in BRITAIN CAMERON is under pressure, only in ARGENTINA the president seems to get away lighthearted, why? Because he has the powerful CLARIN media conglomerate behind him. It is interesting to see how powerful the CLARIN Group is, when the PANAMA papers were released. All over the world MACRI covered the front pages and was mentioned as the only LATIN AMERICAN head of state involved and offshore dealings. 

Not one of the leading and influential dailies in ARGENTINA had the issue on its front pages, instead they focused on the arrest of an opposition figure allegedly involved in money laundering.

Mirror image CAMERON and MACRI, both ultra conservatives, both coming from rich families both vowed to fight corruption, both entangled with hedge funds and offshore companies......

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