In a new chapter of the corruption scandal that left a lasting mark on the Kirchnerist era, the federal judiciary ordered the seizure of assets belonging to Lázaro Báez—the star businessman of Kirchnerism and convicted for being the key player in the "K Money Trail"—worth over 54 million dollars. The measure also extends to his son, Martín Báez, and the entire corporate network built to launder funds from public works contracts.
The Federal Oral Court No. 4, signed by Judge Néstor Costabel, began executing the seizure and allocation of properties, bank accounts, and registered assets in the name of Báez and his companies, Austral Construcciones among them. The scale of the assets is monumental: 440 properties, 972 vehicles and road machinery, as well as multimillion-dollar deposits abroad.
An appraisal conducted in November 2017 estimated the total value at 3,058,871,300 pesos (6,746,000 pounds), equivalent to 205,134,525 dollars at the exchange rate of that time. The objective is clear: to recover the laundered money from corruption crimes proven in court, as well as to enforce the fines imposed in the convictions. Báez Sr. is serving a 15-year prison sentence.
For the crime of money laundering between 2010 and 2013, TOF No. 4 ordered the seizure of USD 54,872,866.69 and imposed a fine equivalent to three times that amount. Meanwhile, Martín Báez must pay a penalty equivalent to seven times the amount he laundered. In addition, there are another USD 5 million and 4,174,697 pesos (9,204 pounds), adjustable for inflation, for other criminal acts.
The seizure is not limited to Argentina. In Switzerland, the remittance of USD 907,202 invested in account 51148100 of the company Tyndall Inc. Limited at Banco Lombard Odier was ordered. In Bahamas, the repatriation of €2,981,646.12 and €1,009,391.16 from accounts at Banco CBH was required, both in the name of Eastern Shoreline Limited.
