Public companies trade on their earnings, management team, and in great part on their name. How the market perceives a company has the most impact on stock price. It follows that multinational corporations apportion considerate amount of resources to PR and brand-reputation protection. Wall Street history is littered with examples of what happens to a stock’s price when a company becomes embroiled in scandals, corporate malfeasance, or fraud. FTI Consulting describes itself as "a global business advisory firm that provides multidisciplinary solutions to complex challenges and opportunities. With the full power of unique depth of thought combined with the global expertise of leading professionals, we are committed to protecting and enhancing the enterprise value of our clients." The $1.53 billion company (NYSE:FCN)"operates in five business segments: Corporate Finance/Restructuring; Forensic and Litigation Consulting; Economic Consulting; Technology; and Strategic Communications. It assists clients in addressing a range of business challenges, such as restructuring (including bankruptcy), financing and credit issues and indebtedness, interim business management, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions, antitrust and competition matters, electronic discovery (e-discovery) management and retrieval of electronically stored information, reputation management and strategic communications. Effective March 19, 2013, the Company acquired C2 Group. In April 2013, it acquired Taylor Woodings. In May 2013, it announced that Compass Lexecon, LLC, a wholly owned subsidiary of FTI Consulting, Inc., has acquired Princeton Economics Group."

About twelve months ago, I received a phone call from Maria Jose Tobar, Director / Global Risk and Investigations Practice at FTI Consulting in Miami. Tobar, posing as a potential client, asked me a few questions about my day job -an online wine retailer- and wanted to know my address, so that she could send me stuff. What Tobar couldn't have known is that her disingenuous phone call would trigger an investigation on my part, which exposed her and her rather amateurish tactics. To this day it remains unknown to me just why Tobar -probably acting on orders from an FTI Consulting client in Venezuela now embroiled in a powerplant scandal involving bribery- wanted my address. But it piqued my interest, which prompted me to do even more research about her firm.

The more I researched the more I uncovered about FTI Consulting’s interesting record of shady Venezuelan clients. FTI Consulting’s Latin America division has done work for Rafael Sarria [see here and here], Moris Beracha [see here], Alejandro Andrade [see here and here], Ricardo Fernandez Barrueco [see here and here], Derwick Associates [see here] and Hugo Carvajal [see here]. These names may appear as innocuous Hispanic businessmen. In reality they include a man designated as a “Drug Kingpin” by the U.S. Department of Justice; a former “treasurer” of the government of Venezuela (who magically surfaced in South Florida spending hundreds of millions of dollars); a former parking lot attendant who claims to have made billions of dollars fishing for tuna in 6 years, and a number of financiers with dubious reputations. All of them have retained FTI Consulting for “due diligence.” In essence to clean up their reputations and discredit anyone who poses a threat to their storybook rags to riches tales. Their target lists include journalists, politicians, and whistleblowers.

The head of FTI Consulting's Latin America office, Frank Holder, is a man with a chequered past. Holder, a former CIA operative, has been involved in all manner of scandals: from Argentina all the way to Venezuela. He stands accused of stealing information, of extortion, of faking due diligence reports, of lying, of vilifying his clients perceived enemies, of stealing clients funds, and of forging documents: 

Holder "began his career with the U.S. Air Force as a political-military analyst for the U.S. embassy in Argentina and as a special agent for the Office of Special Investigations at Langley Air Force Base in Virginia." He cut his teeth in Argentina, where he set up some sort of risk assessment business called Buenos Aires Sistemas Inteligentes with none other than Luis Moreno Ocampo, who accused Holder of stealing information from his office. Holder then created Holder Associates and sold it to Kroll, becoming Kroll's man in Argentina. In 2000, Holder was found guilty of false claims and fraud. Holder was also accused of extorsion by former Governor of Entre Rios province Jorge Busti. In 2001, Holder produced an "intelligence  report" about Argentinean Congressmen Gustavo Gutiérrez and Carlos Balter, which was found by judge Raul Sanchez as something baseless, commissioned and paid for by banker Raul Moneta with the unique objective of vilifying the two congressmen. Holder also founded Holder International, another intelligence firm which FTI Consulting acquired for $9 million in 2007.

Holder's name also popped in Brazil in relation to a scandal related to Daniel Dantas about a report of secret accounts that Lula da Silva, Jose Dirceu and other leaders of Partido dos Trabalhadores allegedly had offshore (Dantas was trying to use the report to blackmail Lula et al). Holder authored the report, and first claimed that he had come about the information in the course of Kroll's investigation into Italy's Parmalat's bankruptcy. Brazil's Veja magazine found through authorities in Milan that Holder's version was false. Confronted by Veja, Holder then admitted that hackers working for utterly corrupt former Argentina's Interior Minister Jose Luis Manzano "got the information", which Manzano handed over to him as "a personal favour". As a result of his relation with disgraced Brazilian banker Dantas, for which he got $838,000, Holder was accused ofslander (he just fabricated "evidence" as in Argentina).

Apart from being a hired pen and a fabulist, FTI Consulting's Latin American director, Frank Holder, is meant to be an "expert" in "risk management... money laundering... forensic and litigation practice" and get this "fraud and public corruption investigations..." Holder is being sued in Florida ($6 million given to him gone missing) by Matias Garfunkel, another Latino 'businessman' involved in yet another massive corruption racket, in Argentina. In an attempt to acquire a controlling percentage of Telecom Argentina's shares, Garfunkel tried to use as guarantee two letters [see here, and here] from two Venezuelan banks owned by [guess who?] Ricardo Fernandez Barrueco, another client of Holder and FTI Consulting. Did Fernandez Barrueco knowingly participate in this, or is it another example of Holder's penchant for recklessness?

But it gets even better, Holder was also hired by Hugo Carvajal, an OFAC designated kingpin targeted by the U.S. Treasury for supporting the FARC, Colombia's narco-terrorist cartel. As if that was not enough, former CIA agent Holder, also served as proxy for Rafael Sarria in at least two Florida-registered companies [SAI Advisors Inc. link, and Noor Plantation Investments link] used to launder money through real estate acquisitions. Hence Holder, and FTI Consulting as a result, have been involved, at the very least, in money laundering, racketeering, and aiding and abetting wanted criminals. Holder started off as an employee of the U.S. government: is he a double agent or is he just cashing in on the needs of criminals in Latin America? While FTI Consulting and Holder cheekily pontificate about FCPA compliance, when will federal authorities start questioning their activities in Latin America?

In addition to that, Holder has failed spectacularly at keeping relations with clients at arms' length: Holder not only fronts companies for extremely dubious clients [see links to Rafael Sarria above], but he also appears to have made purchases, like private jet transactions, for clients who wouldn’t pass muster with America’s Federal Aviation Authority.

Sources have revealed to this writer that during his employ with a different investigative firm, Kroll Associates, Holder was retained by the owner of Venezuela's largest food conglomerate. The conglomerate, Polar Group, needed a due diligence report on Ricardo Fernandez Barrueco, a totally dodgy Venezuelan businessman who was suddenly granted enormous contracts with the Venezuelan state to be sole supplier of the very foodstuffs produced by the Polar Group. The government was clearly seeking to bankrupt the private sector competitor. It would appear that Holder took the work he was paid for by Polar and resold it to Fernandez Barrueco shortly afterwards, once Holder was helming FTI’s LatAm division. Another source claims that FTI's office in Panama (4th Floor, Dresdner Bank building) belongs to Ricardo Fernandez Barrueco.

FTI Consulting's Venezuelan clients is a true Who's Who of that country's most corrupt Boligarchs. Not one of the names mentioned above would pass a rudimentary KYC process. And open source links, or even basic googling reveals none of them pass the smell test. The reported activities of some of Holder’s Venezuelan clients go beyond mere money laundering of misappropriation of public funds: they include drug trafficking, assassinations, and aiding and abetting terrorism.

Is this the sort of clientele that bulks up FTI Consulting’s quarterly earnings? Wall Street friends assure me that FTI has a stellar reputation among U.S.-based attorneys and even judges, yet to anyone who cares to spend 5 minutes googling it’s clear that there is a little-known closet (or more like a warehouse) filled with skeletons at FTI. It would be interesting to know how would the market react should this information make it into the mainstream media. Will company directors ever take a close look?

It doesn't look pretty for Derwick Associates. Not pretty at all. Readers may recall that former U.S. President's Special Envoy for the Western Hemisphere, Otto Reich, filed a RICO lawsuit against Leopoldo Alejandro Betancourt Lopez, Pedro Trebbau Lopez and Francisco D'Agostino (of Derwick Associates's fame) in New York in July last year. When reading the claim the first time I thought "this is a looong shot..." As perhaps the blogger who's written more about Derwick Associates, I saw there were a number of claims that were very odd, not least of which that Francisco D'Agostino, a Bolichico in his own right connected to Boligarch-in-chief Victor Vargas, was part of Derwick Associates. I have gotten all registry documents related to Derwick Associates, in USA, Venezuela, Panama, Barbados, Spain and nowhere had I seen D'Agostino's name mentioned. Now in an amended claim filed yesterday, Reich argues that D'Agostino has been actively doing Derwick's bidding, and has information that only someone with intimate knowledge of Derwick's operations could have access to. Namely, D'Agostino got in touch with a "Forbes writer", to whom he sent "several text messages" and made "telephone calls", after "at least a decade" of not talking/seeing each other, and "attempted to dissuade the Forbes writer from publishing the piece" about Derwick Associates in which he was meant to be working on. The "Forbes writer" was contacted by D'Agostino, after the former had sent an email to ProEnergy Services (most probably Derwick's main and most important subcontractor) asking about its work in Venezuela and relation with Derwick. Further, D'Agostino, Reich claims, offered the "Forbes writer" Derwick's financials, contracts with the Venezuelan government and with ProEnergy Services. Now, how on earth could D'Agostino have that information, if he is not a part of Derwick Associates?

But things get more interesting. D'Agostino invited the "Forbes writer" to dinner in L.A. and offered to bring Leopoldo Alejandro Betancourt Lopez (Derwick's main man) along. Interesting, eh? A man who claims to have nothing to do with Derwick, calls a "childhood" friend, who he has not seen or spoken to in "at least a decade", and offers to reveal confidential information about Derwick, and bring Derwick's CEO to a meeting, only after this friend of his started making enquiries, as a "Forbes writer", to Derwick's main U.S. partner ProEnergy Services. Why? Mind you, if what Reich's claim is true, how will D'Agostino explain his interest in preventing publication of an article about Derwick's overprice scandal in Venezuela?

But then, the amended claim fingers FTI Consulting and Sunset Reputation for "conduct[ing] investigative-type... and reputation management" services. Readers of this site are well aware of FTI and its long time relations with the worse scum of Venezuela, but Sunset Reputation, apparently Brandon Hopkins' one-man operation, has been pumping out a lot of benign PR BS on behalf of Derwick.

Derwick Associates has also retained Volkov Group, a lobbying firm headed by Michael Volkov who blogs, wait for it, "corruption, crime and compliance". What a f%$£ joke this is.

And guess who has made an appearance in all this imbroglio? David Osio and his "bank", as well as RaFa the hacker. It's all one big, happy, thuggish, Boliburgeoise family, being helped in its criminal enterprise by none other than JP Morgan.

Hilary Kramer and her stupid white wash attempt also got a mention.

In previous communications related to the lawsuit, Derwick has claimed that New York courts haven't got jurisdiction over its affairs. However, in what can prove to be a lethal counter argument, Reich is showing that the bolichicos filed a lawsuit against Banco Venezolano de Credito (BVC), Oscar Garcia Mendoza et al in New York, and one in Florida, in September 2012. So, New York courts had jurisdiction to entertain the spurious allegations made by Derwick against BVC in 2012, but don't have jurisdiction to hear claims against them in 2013? Again, what a pathetic bunch of imbeciles. Only in Venezuela can such people become multibillionaires. It's going to be truly fascinating to learn what sort of BS they'll come up with. I'd venture a prediction: sooner, rather than later, they'll pay up to avoid further complications and exposure into its dodgy activities.

The amended claim, with interesting bits highlighted, can be read here.

You know Eva. She was the "darling" of Hugo, the "sweetheart" of the "revolution". She must be sobbing today. Upon finishing her studies, in a rather expensive college, she went on to study law, and became, according to chavismo's conventional wisdom, a "renowned author", an "investigative journalist", a "TV presenter", an "editor of Correo del Orinoco", an "expert on Venezuela", and even a "Venezuelan". Imagine just how desperate for useful idiots those revolutionaries are, that Eva, an American citizen, published her first "book" in Havana. In sum, Eva is to Venezuela what Edward Snowden is to the USA. Without ever having actually revealed anything relevant that's what this modern day Tokyo Rose would like to be.

Unsubstantiated propaganda aside, Eva truly moved up the revolution's ranks. First she managed to get a job as a lawyer for Andres Izarra (the one who laughs hysterically when hearing Venezuela's crime figures), when she wasn't even qualified to practice law. Still in her native America, she lied her way into becoming part of a rapidly expanding propaganda apparatus, called in true Goebbels-esque fashion, the "Venezuela Information Office." From there, she packed her guitar and moved to Caracas, where she bought a flat in one of the nicest parts, got her Venezuelan citizenship in a Corn Flakes pack, and became, officially, a propagandist of Hugo Chavez. In that role she traveled as part of Chavez's sprawling detail, and met wonderful and "really nice" people, such as Lukashenko, Ahmadinejad and other such role models. Only a few years into it, she was given millions of dollars to run, and edit, one of the propaganda rags of the revolution. But Caracas' rampant crime and appalling infrastructure would play against Eva's dreams of revolution, and so when she became pregnant, she packed her guitar, her sandals, and the picture with Fidel and Hugo, and moved back to her native Brooklyn, where she bought herself yet another property (while Eva appears to have gotten a bargain, similar apartments in same building go for roughly double what she paid). Propagandist for chavismo is a lucrative profession, as Oliver Stone, Danny Glover, Mark Weisbrot and Joe Kennedy will attests. Once in New York, she managed another feat: presenting her own, her own, TV program, in Putin's beacon of independent and objective journalism: Russia Today. A truly inspiring career, no doubt.

Not long ago Eva informed the world that there was this plan, to oust chavismo from power. Imagine the outrage, the fear! Here she was again, doing what she does best, presenting evidence (of unknown origin and totally unsubstantiated to this day) of a plan hatched by none other than FTI Consulting, run by a chap called Frank Holder. Imagine that! Eva had just revealed THE PLAN!

​Reality is, of course, a little less fanatical. Eva was taken to task by none other than the New York Times for the amount of insanely inane stuff that she continues to put out there. She will go down as "one of the most prominent fixtures of Venezuela’s expanding state propaganda complex" as per the Times very apt and factual description. Hence, Eva basically grabbed some A4, wrote a piece of fiction, placed badly some logos in it, scanned the thing, and released it as the latest "evidence" of imperial destabilisation against her paymasters. Her digital footprint is all over the metadata of the document upon which she bases her preposterous allegations. Given her appalling research skills, in the mad dash to print about latest invasion, she missed that FTI Consulting is the Boliburgeoisie's favourite PR and "due diligence" firm. That bit never made it into Eva's "research". Derwick Associates is a client. Ricardo Fernandez Barrueco is a client. David Osio is a client. Moris Beracha is a client. Rafael Sarria is a client. OFAC-designated kingpin Hugo Carvajal is a client. That is, the very worse scum of Venezuela's boligarchs, a class that became such solely because of chavismo's rampant corruption, are clients of FTI Consulting and its star exec Frank Leon Holder. Now what are the chances that a company that has made a killing out of dealing with such thugs is going to imperil an important revenue stream by ousting from power the very source of such income? Only in Eva's little world...

As the dust settles in the spurious lawsuit against Banco Venezolano de Credito brought by proxies of the Venezuelan regime (Derwick Associates), it is worth exposing some of the parties that participated in this malicious charade.

Frank Holder

FTI Consulting deserves special mention. It is a public listed company, that deals in a number of things, among which PR management. This "PR management" company instructed one of its employees, Maria Jose Tobar, to call me, to find out where I worked, so, presumably, I could be served. When I exposed FTI's idiotic attempt, Maria Jose Tobar deleted her LinkedIn profile. But FTI Consulting has been offering similar "PR management" and consultancy services to some of the worse thugs to come out Chavez's Venezuela: Rafael Sarria, Ricardo Fernandez Barrueco, Moris Beracha, Alejandro Andrade, David Osio and the two imbeciles running Derwick Associates, Alejandro Betancourt Lopez and Pedro Trebbau Lopez. The commonality between mentioned names appears to be FTI's Frank Holder.

Holder "began his career with the U.S. Air Force as a political-military analyst for the U.S. embassy in Argentina and as a special agent for the Office of Special Investigations at Langley Air Force Base in Virginia."He cut his teeth in Argentina, where he set up some sort of risk assessment business called Buenos Aires Sistemas Inteligentes with none other than Luis Moreno Ocampo, who accused Holder of stealing information from his office. Holder then created Holder Associates and sold it to Kroll, becoming Kroll's man in Argentina. In 2000, Holder was found guilty of false claims and fraud. Holder was also accused of extorsion by former Governor of Entre Rios province Jorge Busti. In 2001, Holder produced an "intelligence  report" about Argentinean Congressmen Gustavo Gutiérrez and Carlos Balter, which was found by judge Raul Sanchez as something baseless, commissioned and paid for by banker Raul Moneta with the unique objective of vilifying the two congressmen. Holder also founded Holder International, another intelligence firm which FTI Consulting acquired for $9 million in 2007.

Holder's name also popped in Brazil in relation to a scandal related to Daniel Dantas about a report of secret accounts that Lula da Silva, Jose Dirceu and other leaders of Partido dos Trabalhadores allegedly had offshore (Dantas was trying to use the report to blackmail Lula et al). Holder authored the report, and first claimed that he had come about the information in the course of Kroll's investigation into Italy's Parmalat's bankruptcy. Brazil's Veja magazine found through authorities in Milan that Holder's version was false. Confronted by Veja, Holder then admitted that hackers working for utterly corrupt former Argentina's Interior Minister Jose Luis Manzano "got the information", which Manzano handed over to him as "a personal favour". As a result of his relation with disgraced Brazilian banker Dantas, for which he got $838,000, Holder was accused of slander (he just fabricated "evidence" as in Argentina).

Apart from being a hired pen and a fabulist, FTI Consulting's Latin American director, Frank Holder, is meant to be an "expert" in "risk management... money laundering... forensic and litigation practice" and get this "fraud and public corruption investigations..."Holder is being sued in Florida ($6 million given to him gone missing) by Matias Garfunkel, another Latino 'businessman' involved in yet another massive corruption racket, in Argentina. In an attempt to acquire a controlling percentage of Telecom Argentina's shares, Garfunkel tried to use as guarantee two letters [see here, and here] from two Venezuelan banks owned by [guess who?] Ricardo Fernandez Barrueco, another client of Holder and FTI Consulting. Did Fernandez Barrueco knowingly participate in this, or is it another example of Holder's penchant for recklessness?

But it gets even better, Holder was also hired by Hugo Carvajal, an OFAC designated kingpin targeted by the U.S. Treasury for supporting the FARC, Colombia's narco-terrorist cartel. As if that was not enough, former CIA agent Holder, also served as proxy for Rafael Sarria in at least two Florida-registered companies [SAI Advisors Inc. link, and Noor Plantation Investments link] used to launder money through real estate acquisitions. Hence Holder, and FTI Consulting as a result, have been involved, at the very least, in money laundering, racketeering, and aiding and abetting wanted criminals. Holder started off as an employee of the U.S. government: is he a double agent or is he just cashing in on the needs of criminals in Latin America? While FTI Consulting and Holder cheekily pontificate about FCPA compliance, when will federal authorities start questioning their activities in Latin America?