This will be about the links between some of the other individual players in the New Zealand trust industry, and some Uruguayan lawyers. The focus will be mainly on the Angerona Group Trust (New Zealand) Ltd and one of its directors Patricio Jose Martinelli, and some legal issues that his associates are facing. The story is complicated slightly by the use of two surnames by those in Latin America, including on the New Zealand company register, where Patricio Martinelli Brito also appears. Martinelli Brito appears to be a partner in the law firm Bragard & Duran Abogados, based in Montevideo, and was the original director of Principal (New Zealand Ltd), along with Diego Pimavesi. As just Patricio Martinelli he is the shareholder of Angerona, and director of companies that it owns.
Before we get to the scope of the Angerona Group Trust we have to get through a complex sequence of ownership changes amongst the New Zealand resident directors. Angerona’s registered addresses have included that for the office of Trustee Executors International Ltd (TEIL) in Wellington; then the New Zealand Trust and Corporate Services Ltd, based in central Auckland; and now it’s with B.R. Associates Ltd, based in Parnell, Auckland. Angerona was first owned by Tarpon Holdings Ltd, a TEIL-owned company, with Carolyn Melville as a director. Carolyn Melville and her husband Garth have created well over 2000 companies in New Zealand, and have moved offices frequently, and are now based in Tauranga. Tarpon Holdings’ 100 shares in Angerona were sold to Patricio Martinelli in January 2015.
I will now refer to Margaret Moore, who runs NZ Trust and Corporate Services, because she has some interesting international connections. NZTCS had a Cyprian company as the original shareholder, Hermonassa Investments Ltd, before two of Moore’s other companies took part of the 100 shares in 2013; the main shareholder at the current time is a company called Valmont Ltd, which is domiciled in the Seychelles. Moore has a number of companies which are associated with Seychelles directors, and which see assumed from Carolyn Melville, including Green Crescent Venture Trust Co, and Tundra Finance Ltd. These companies usually have had a shareholding by Selma Louise Francis of the Seychelles; though some new companies, like Metinfra Ltd, were created for a Cameroon resident, by the name of Serge Yannick Nana, and then transferred to Francis.
But back to Angerona and its South American contingent of directors. Angerona had a number of companies created for it by TEIL in Wellington, including Big Boss 2 (NZ) Ltd, and NGVH Ant (NZ) Ltd (followed by NGVH Bat and NGVH Cat). Then there are more of the companies owned by Tarpon Holdings which have changed hands, passing through Margaret Moore’s administration, and then being run by B.R. Associates in Auckland. B.R. Associates has a principal called Alan Jay Riechelmann, and a staffer named Gregory Fitzsimons who is the local nominee director for Angerona. Riechelmann has a company called Braco No.3 Ltd that has taken over the shares of companies like BGL Trust (NZ) from Tarpon Holdings. One of these companies was called Waitorua New Zealand Ltd, now called Waitorua Trustee Co, whose main director is Raul Alejandro Duro of Montevideo. But the original director of the company was Gustavo Federico Larriera Mendevil, whose residential address is listed as being in Montevideo.
But Gustavo Larriera Mendivil also appears in the Panama Papers database a number of times, and seems to have a number of companies based in Miami, Florida. The press in South America report that he has 57 companies in tax havens , as well as the CFC Holding Company in Miami. Larriera Mendivil (or vice versa) is also linked to a money laundering investigation in Argentina, according to an article by Carlos Pagni in La Nacion from April. This involves an investigation into those linked with the Kirchner government, and in particular, Silvia Majdalani, who was assistant director of the intelligence agency in Argentina. Larriera has created a complicated web, including many dormant companies.
Angerona Group Trust (NZ) also owned until recently (March 2016), Latam Real Estate (New Zealand) Ltd, and it remains registered in Auckland. But this company is now owned by a new company called S.A. Trustee New Zealand Ltd, which is based in Tauranga, and run by Carolyn and Garth Melville. The Melville’s new venture is called Pantheon Holdings, which is a company previously known as NZ Securities Ltd. S.A. Trustee is owned by a Juan Carlos Siekavica Costa, who lives in Montevideo, and he replaced Martinelli as director of Latam Real Estate. This change may also be linked to current litigation in Brazil in which Latam and Angerona are named, along with directors Gregory Fitzsimons, Patricio Martinelli, and Diego Menafra Wilson. Those who can read Portugese may like to check the website jusbrasil.com.br, and the diary for 15 June 2016, for the details of this legal case.