Mayo 22, 2006
Johnny Fernandez
Johnny Fernandez, former chief of Unidad Cívica Solidaridad (UCS), a political party which had not much success in recent elections, resurfaced with a bit of flare for the dramatic. Even though one of his half-million dollar country homes was auctioned off to pay back taxes, Fernandez laughed it off. Fernandez has been largely M.I.A. since his sixth-place presidential finish in 2002. (Photo: El Nuevo Dia)
After some of his posessions were auctioned off at the National Tax Service (SIN), Johnny Fernandez called a press conference at his house in the neighborhood of Las Palmas, where he denied that he was in bankruptcy, which was a rumor that circulated in political and economic circles. He even showed the press a suitcase with dollars that he received from the interest of his CDs (Certificates of Deposits) in the United States.
“It was only a problem of liquidity. I have more than ten million dollars in properties in Bolivia and I am not bankrupt. I also have property investments and CDs in other countries, but it’s difficult to withdraw. I am even thinking of a strong return to politics,” said Fernandez.
Posted by eduardo at Mayo 22, 2006 02:02 AM
Comments
Wow, with a 1-year Certificate of Deposit yielding a meager 4.7%, to receive a suitcase packed with dollars only (allegedly) from that source... well, you do the math about how much he actually has there.
And at least he's conservative, US-governemt backed securities are virtually risk-free; he could be making 3 times as much on stocks, or untold percentages on some of the better hedge and mutual funds.
Posted by: Jonathan at Mayo 23, 2006 06:06 PM
Este siempre ha sido todo un personaje.
Posted by: Andrea at Mayo 28, 2006 08:11 PM