One of several lingering questions is who controls the Cuban accounts to which UBS credited $3.9 billion over the course of 1,900 transactions between 1996 and 2003.Socialism has always been the royal road for the super-rich.It certainly isn't a share the wealth movement.
According to a scholar of the Cuban economy and a former banker, Maria Werlau, it is "highly unlikely" that the account is operated exclusively by the Cuban National Bank. Based on accounts from former top Cuban government officials who defected from the island, Ms. Werlau said, it was probable that the UBS account is part of the Fidel Castro's vast network of overseas bank accounts used for his private business interests, a system known as the "Comandante's reserves." According to Ms. Werlau, who has been researching Mr. Castro's personal fortune - estimated by Forbes magazine at around $500 million - the reserves also consist of fleets of automobiles and trucks, stored food, and luxury items.
Tuesday, October 11, 2005
More on Comrade Castro and UBS
The New York Sun reports:
