ABC NEWS: Bay of Pigs Vet, Families Seek Billions From Cuba - By CURT ANDERSON - Now, at age 78, Villoldo is fresh off another clash with the Cuban government, this time with a tentative success: He and family members of other two men ? American Bobby Fuller and Cuban Aldo Vera ? each won separate lawsuits in Florida seeking billions of dollars in damages combined from the Cuban government, which defaulted after never responding to the lawsuits. Money to me in this case, it doesnt mean anything. My family tragedy is sacred ground, Villoldo said in a recent interview. I am continuing to fight Castro in a different arena. Earlier this year, Manhattan U.S. District Judge Alvin Hellerstein ruled that the Florida decisions must be honored as attorneys for Villoldo and the others try to get at accounts with ties to Cuba held by the 19 banks, including Bank of America, Barclays Bank, Citibank, Wells Fargo and JPMorgan Chase.The judgments granted by the Florida circuit court in favor of the plaintiffs and against Cuba are entitled to full faith and credit, Hellerstein wrote in an Aug. 22 order.At stake is as much as $3.5 billion; the families have agreed to share any proceeds they get out of the New York accounts. Thats the battle: Is this Cubas money or is this someone elses money? Hall said. This is the green light that opens the door for us. In a nutshell, the money was halted by the Treasury Department as it passed back and forth electronically through the New York banks between entities in Cuba and banks in other countries overseas. Based on the rulings so far, Hall estimated more than $20 million could be paid out by the banks within the next six months. Another $20 million to $40 million, he said, could be obtained depending on upcoming legal decisions on precisely when an electronic funds transfer, or EFT, should be considered Cuban property that could be seized. CLICK LINK FOR ENTIRE ARTICLE abcnews.go/International/wireStory/bay-pigs-vet-families-seek-billions-cuba-27117008
Posted on: Sun, 23 Nov 2014 17:37:35 +0000
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