Luxury properties and cars: the US $ 3.1 billion embargo on an agro-exporter

06/18/2021 3:20 PM

• Clarín.com

• Rural

Updated 06/18/2021 3:20 PM

The federal judge of Rosario, Carlos Vera Barros, seized properties and luxury cars for US $ 3,100 million belonging to the agro-exporter Díaz & Forti, which was accused by the Central Bank of not liquidating the foreign currency of the foreign grain sales for US $ 450 millions.

Various fields in different Santa Fe towns, two Mercedez Benz cars, a Porsche Macan, a BMW, trucks and motorcycles make up the set of assets of the firm's shareholders on which the magistrate released seizures, as a precautionary measure for the possible risk of insolvency .

The company, belonging to the Rosario Olio group, had a dizzying trajectory last year.

From having the concession of the port of Barranqueras, in Chaco, in May 2020 it began to operate two plants in Vicentin, in the surroundings of Rosario.

Through contract contracts, it initially had a turnover of 11 million dollars and in July it had multiplied that figure exponentially, to 455 million dollars.

But the splendor lasted a few months.

At the beginning of December of last year, Díaz & Forti was suspended as the "first victim" of the exchange control that was intensified by the Central Bank (BCRA), in line with other State agencies, through resolution 132/2020.

It was also disqualified from the Single Registry of Operators of the Agroindustrial Chain (RUCA), a sanction that was borne by the Ministry of Agriculture based on what was reported by the BCRA.

In February, state sanctions continued: it was suspended as a grain exporter.

And the company filed for bankruptcy.

In March, Judge Vera Barros prevented him from turning foreign currency abroad for not settling export dollars, as requested by the BCRA.