| Revision as of 14:35, 10 August 2014 edit46.24.172.71 (talk) Undid revision 620554272 by Righteousskills (talk)(Reverted edition in which a section was blanked out for the 5th time, possible vandalism)← Previous edit | Revision as of 16:51, 10 August 2014 edit undo27.122.12.77 (talk) added report of investigation that appeared in the Wall Street JournalNext edit → | ||
| Line 39: | Line 39: | ||
| '''Derwick Associates''' is a Venezuelan energy company specializing in the construction of turn-key power plant projects. Derwick undertook eleven projects that created 1.216MW of new generation capacity for ].<ref name="el-nacional1">{{cite web|author=El Nacional Web |url=http://www.el-nacional.com/economia/Premian-Centro-Tecnologico-Turbinas-Derwick_0_320368236.html |title=Premian en España al Centro Tecnológico de Turbinas de Derwick |language=es |publisher=El-nacional.com |date= |accessdate=2014-04-14}}</ref> | '''Derwick Associates''' is a Venezuelan energy company specializing in the construction of turn-key power plant projects. Derwick undertook eleven projects that created 1.216MW of new generation capacity for ].<ref name="el-nacional1">{{cite web|author=El Nacional Web |url=http://www.el-nacional.com/economia/Premian-Centro-Tecnologico-Turbinas-Derwick_0_320368236.html |title=Premian en España al Centro Tecnológico de Turbinas de Derwick |language=es |publisher=El-nacional.com |date= |accessdate=2014-04-14}}</ref> | ||
| According to articles in the Wall Street Journal and Spain's El Pais, Derwick Associates is under criminal investigation by the US Department of Justice and Manhattan District authorities for its work in Venezuela. The investigations are probing for possible violations of New York banking laws and possible violations of the Foreign Corrupt Practices including bribery. . Derwick denied knowing about an investigation but their lawyer, Adam S. Kaufmann, stated that Derwick's subcontractor, ] was in "a long-running investigation." | |||
| ==History and clients== | ==History and clients== | ||
Revision as of 16:51, 10 August 2014
 | |
| Native name | Derwick Associates de Venezuela SA |
|---|---|
| Industry | Energy |
| Founded | 2007 |
| Founder | Alejandro Betancourt López Pedro Trebbau López |
| Headquarters | Venezuela |
| Products | Electrical power Natural gas |
| Services | Engineering Power-plant construction |
| Website | derwickassociates |
Derwick Associates is a Venezuelan energy company specializing in the construction of turn-key power plant projects. Derwick undertook eleven projects that created 1.216MW of new generation capacity for Venezuela.
According to articles in the Wall Street Journal and Spain's El Pais, Derwick Associates is under criminal investigation by the US Department of Justice and Manhattan District authorities for its work in Venezuela. The investigations are probing for possible violations of New York banking laws and possible violations of the Foreign Corrupt Practices including bribery. . Derwick denied knowing about an investigation but their lawyer, Adam S. Kaufmann, stated that Derwick's subcontractor, ProEnergy Services was in "a long-running investigation."
History and clients
Derwick's first project was the Engineering Procurement and Construction (EPC) of Picure Power Plant in Vargas State for 156 MW, awarded by the state-owned Electricidad de Caracas in 2009. It was followed by 11 more contracts from the Venezuelan government through PDVSA, CVG and Corpoelec during the 2009 - 2010 energy crisis in Venezuela. Four contracts were awarded by state-owned Electricidad de Caracas (since December 2011, part of Corpoelec), five by state-owned Petróleos de Venezuela SA (PDVSA, with the contract negotiated by Bariven, a division of PDVSA), and one by state-owned Venezuelan Guayana Corporation (CVG). The company's directors are: Francisco Convit Guruceaga, Edgard Romero Lazo, Iker Candina, Alejandro Betancourt López and Pedro Trebbau López.
Venezuelan EPC projects
- Picure (Completed).
- La Raisa I (Completed).
- La Raisa II (Completed).
- Guarenas I (Completed).
- Guarenas II (Completed).
- Adecuación Dual, Planta Juan Bautista Arismendi (Completed).
- Sidor Planta A (Completed).
- El Furrial (over 97% completion).
- Barinas (over 97% completion).
- Morichal (over 97% completion).
Turbine Technology Center (TTC)
Derwick´s Turbine Technology Center (TTC) was started by Derwick on 2011 and conceived as a quick response to the technical assistance needs of the country.
"The Best Latin-American Initiative" Award
In December 2013, Derwick Associates received the award "The Best Latin-American Initiative", given by Capital, Spanish financial magazine The award recognizes the TTC (Technological Center of Turbines) as an important initiative that has helped to improve Venezuela's power system.
Allegations of Corruption
In 2011, Venezuelan newspaper Ultimas Noticias's César Batiz published an investigative series alleging overbilling and odd transactions between BARIVEN and Derwick Associates. The articles alleged that the company had no experience building power plants when it was contracted to build them. A deputy to the National Assembly called for an investigation of how the Derwick contracts were awarded In 2012 the Derwick articles in Ultimas Noticias won an award for investigative journalism. According to Reporters Without Borders and to the Institute of Press and Society, reporters have received "threats, pressures, bribe offers" or been banned on Venezuela's internet. César Batiz, was offered a US$50,000 bribe in 2012 to stop writing about the Venezuelan electricity industry.
Defamation suits
Derwick director Edgard Romero Lazo says the allegations of overbilling and bribery are "part of a defamation campaign" against the company. Lazo was responding to claims by energy expert José Aguilar who claimed to have analyzed the powerplant contracts and budgetary expenditures. Aguilar says that the fraud amounts to billions of dollars. The company says all contracts are available to the public through the National Contractors Registry (RNC) and that almost all of the projects are completed.
On September 13, 2012, Derwick Associates and its co-founders sued Venezolano de Credito SA Banco Universal. The suit "alleged defamation of Derwick, Betancourt and Trebbau; tortious interference with contract and with business relationships; deceptive and unfair trade practices; and civil conspiracy," After the suit was filed, the Venezuelan bank regulator (Sudeban) issued an order forbidding the bank from paying dividends until the suit was settled.
Legal activity
In July 2013, Washington businessman Otto Reich, previously the US Ambassador to Venezuela and a senior State Department Official, filed suit in New York Federal Court alleging that Derwick Associates had bribed several Venezuelan government officials in order to secure contracts to build power stations and then subcontract the bulk of the work to Missouri-based ProEnergy Services. Reich's suit was based on Racketeer Influenced and Corrupt Organizations Act, "RICO".
In March 2014, human rights lawyer Thor Leonardo Halvorssen Mendoza filed suit against Derwick Associates, Alejandro Betancourt López, Pedro Trebbau Lopez, and Francisco D'Agostino had defamed him and damaged his business during Derwick's previous court action against Banco Venezolano. Halvorssen's suit alleges that Derwick and its principals paid a $50,000,000 bribe to Diosdado Cabello, speaker of the Venezuelan Assembly. Joe DeMaria, Derwick's attorney, said Halvorssen’s allegations are absolutely false.
People familiar with the matter claimed that Derwick Associates is currently under preliminary investigations from the US Department of Justice and New York City banking authorities for possible banking violations and breaches of the Foreign Corrupt Practices Act. Lawyer Adam Kaufmann questioned in a statement the above declarations and stated that Neither Derwick nor its principals have been contacted by any U.S. law enforcement agency.
References
- ^ El Nacional Web. "Premian en España al Centro Tecnológico de Turbinas de Derwick" (in Spanish). El-nacional.com. Retrieved 2014-04-14.
- ^ Luis Carías Toscano. "Derwick ha edificado 11 plantas termoeléctricas que generan 1.386 MW". El-nacional.com. Retrieved 2014-03-29.
- "La venezolana Derwick, en busca de oportunidades de inversión en el sector eléctrico español". Expansión. Retrieved 5 August 2014.
- "CTT de Derwick es distinguido como mejor iniciativa empresarial latinoamericana" (in Spanish). elEconomista.es. 2013-12-17. Retrieved 2014-04-14.
- ^ "Derwick Associates Wins Capital Award for Best Latin American Initiative". Yahoo Finance. 13 December 2013. Retrieved 20 July 2014.
- "Ipys reconoce investigación de periodista de ÚN | Últimas Noticias". Ultimasnoticias.com.ve. Retrieved 2014-03-29.
- "Oposicion Exige Revisar Plan De Inversion Electrica - 2011" (in Spanish). El Universal. Retrieved 2014-04-14.
- "Autor de investigaciones periodísticas sobre sector eléctrico es citado por presunto funcionario de policía de inteligencia e intimidado por empresa contratista". IPYS. 18 Dec 2012. Retrieved 21 October 2013.
- "La corrupción apaga a Venezuela | Internacional | EL PAÍS". Internacional.elpais.com. 2013-09-05. Retrieved 2014-04-30.
- Plunkett, Steve (October 10, 2012). "Defamation Suit Seeks $300 Million in Damages From Venezuelan Bankers". Daily Business Review. South Florida. Retrieved November 25, 2012.
- José de Córdoba (2013-07-31). "Suit Alleges Graft in Venezuelan Contracts". Online.wsj.com. Retrieved 2014-04-01.
- Maria, Antonio (2014-03-27). "Lawsuit filed in Miami accuses Venezuela top official, Diosdado Cabello, of bribery - Venezuela". Miami Herald. Retrieved 2014-04-01.
- "Banesco desmiente el pago de $50 millones a Cabello a través de ese banco - Venezuela" (in Spanish). ElNuevoHerald. Retrieved 2014-04-01.
- "Demandan a Diosdado Cabello en Miami por supuestos sobornos en Venezuela - Nacional y Política". Eluniversal.com. 2014-03-28. Retrieved 2014-04-01.
- Cordoba, Jose; Mathews, Christopher (8 August 2014). "Venezuelan Energy Company Investigated in U.S." Wall Street Journal. Retrieved 8 August 2014.
{{cite web}}: CS1 maint: multiple names: authors list (link) - "La justicia de EE UU sigue la pista de los 'bolichicos' venezolanos". El Pais. 8 August 2014. Retrieved 8 August 2014.