Posts Tagged ‘Sarkis Yacoubian’

Cuba: Risky business

Thursday, October 2nd, 2014

Canadian businessman Cy Tokmakjian, age 74, was sentenced to 15 years in jail, effectively a life sentence, by the Communist regime, after

Cuba offered to free jailed Canadian executive Cy Tokmakjian in return for $55-million and company assets, his company said on Monday, but the deal fell through because the firm didn’t have the money and the businessman wanted to clear his name.

Of course he was denied that chance, was convicted of bribery and other economic charges, and the Communist thugs carried on as usual,

Cuba seized about $100-million worth of the firm’s assets on the island and also sent two Tokmakjian aides[,Claudio Vetere and Marco Puche,] to prison.

Peter Foster writes about the Risky business in Cuba
After forty years of ‘constructive engagement’ with Cuba, government-backed Canadian investment has effectively propped up the regime
Read the whole article.

Among other businessmen who have been imprisoned: Krikor Bayassalian, Nessin Abadi, Sarkis Yacoubian, Stephen Purvis, Amado Fakhre.

Cuba: Foreign businessmen jailed for wanting to collect

Wednesday, October 9th, 2013

Do business with Cuba + travel to Cuba trying to get paid = go to jail

The Miami Herald reports on Panamanian businessman Nessin Abadi, in his early 70s and owner of the large Audiofoto chain of electronics stores
, jailed without charges in Cuba for over a year, like many others,

Few of those cases “have been reported in the press and there are many more in the system than is widely known,” [Stephen] Purvis wrote. “As they are all still either waiting for charges, trial or sentencing they will certainly not be talking to the press.”

Purvis also appeared to indicate that Cuba targeted certain businessmen in order to make room for deals with businessmen from other countries that are more politically in tune with Havana and may not push so hard for their debts to be paid.

Purvis wrote to The Economist that the jailed businessmen are from several countries, “although representatives from Brazil, Venezuela and China were conspicuous by their absence.”

Stephen Purvis’s company, as you may recall, Coral Capital, was behind the Bellomonte Golf and Country Club development, which lost £10.6 million. He spent 16 months in jail and was released last July, along with Amado Fakhre, who was the company’s executive director.

The Herald mentions others,

Canadian Sarkis Yacoubian was sentenced to nine years in a prison in June even though he cooperated with authorities in detailing a corruption scheme that also brought down several government officials. His cousin and business partner, Krikor Bayassalian, a Lebanese citizen, was sentenced to four years in prison.

Still awaiting trial is another Canadian, Cy Tokmakjian, who like Yacoubian sold transportation and other equipment to the Cuban government. He was arrested in 2011.

Abadi is not the first Panamanian businessman to run afoul in Cuba.

Alejandro Abood, then 50, was arrested in Havana in 2001 in what an El Nuevo Herald report at the time described as a roundup of Cubans and foreigners suspected of spying activities close to the offices of then-ruler Fidel Castro.

Purvis asserts that “there are many more in the system than is widely known.” You can read his letter to The Economist here.

Cuba: Lie down with dogs…

Friday, November 18th, 2011

… end up in jail.

For those believing the lies about the Communist regime’s “easing”, read and learn:

Business in Cuba
A risky venture
Arrests of foreign businessmen reflect the cautious pace of reform

Most recently, on October 11th, Amado Fakhre, a British citizen and the head of Coral Capital, an investment fund, was woken at dawn and taken for questioning by state security agents. He has been held without charge ever since. His company owns Havana’s poshest hotel in partnership with the government, and hoped to win a $400m contract to build homes around a golf course. Its Havana office has been closed and declared a crime scene.

Two Canadian executives, Sarkis Yacoubian and Cy Tokmakjian, have met a similar fate. Their questioning has gone on for months, again without charge. Their companies imported cars (including the president’s fleet of BMWs) and machine parts destined for nickel mining.

27969