Gustavo Gómez López | |
|---|---|
 | |
| Born | January 7, 1951 |
| Nationality | Venezuelan and Spanish |
| Education | Law at the Andrés Bello Catholic University |
| Occupation(s) | Lawyer, Businessman and Banker |
| Spouse | Claudia Febres Cordero Salóm (1982-present) |
| Parent | Rubén Darío Gómez López y Agustina Soledad López Albertí |
Gustavo Adolfo Gómez López (January 7 1951) is a Venezuelan lawyer, banker, and businessman of Spanish ancestry. He is the founder of the law firm Gómez López & Associates and served as president of Banco Latino and its group of companies until 1994. He currently practices his profession and is a member of the boards of several media outlets and insurance companies.
Biography
editGustavo Gómez López was born in the El Recreo Parish of Caracas on January 7, 1951. He is the youngest of eight children of Rubén Darío Gómez Rodríguez, originally from Upata, Bolívar State, Venezuela, and Agustina Soledad López Alberti, from Barcelona, Spain.[1] Gómez López studied Law at the Andrés Bello Catholic University in Caracas, graduating in 1974.
He has a son named Gustavo Ignacio Gómez Gómez. In 1982, he married Claudia Febres Cordero Salóm.
Professional Activity
editDuring his university years, Gómez López served as a student representative on the Faculty of Law Council and the University Council. He began his career in the financial and insurance sector under the guidance of his brother Rubén Gómez López, Superintendent of Insurance and Reinsurance in the 1970s. He received training at Seguros Ávila and General de Seguros.
In 1973, he participated in the presidential electoral campaign as the head of youth for the Development Movement led by Pedro R. Tinoco, Jr. In 1974, he joined the legal department of Banco de Venezuela, which was headed by Carmelo Lauría Lesseur. In 1976, he provided legal consulting for CORPOINDUSTRIA, a government financial entity.
In 1977, he joined the Latin American Bank of Venezuela SUDAMERIS, later known as Banco Latino C.A., chaired by Pedro R. Tinoco, Jr. Gómez López founded and served as the first president of Arrendadora Latino (a financial leasing company) and promoted the establishment of Latino de Seguros. He also served as president of the Banco Hipotecario de Occidente and, in September 1992, was elected president of Banco Latino by the Shareholders' Assembly, proposed by Pedro R. Tinoco, Jr.
During his tenure as vice president of Banco Latino, in coordination with the Venezuelan Oil Chamber and the operators Lagoven and Maraven, he developed innovative financing programs for national and international contractors. By 1992, Banco Latino was the bank with the greatest penetration in the industry, both in ordinary transactions and in social benefits trusts. Under a banking kiosk program, facilities were established in major oil fields, state-owned enterprises, large corporate companies, the headquarters of PDVSA (Petróleos de Venezuela), and embassies, including the United States Embassy.
Gómez López was also instrumental in the promotion of Banco Latino de Colombia, Société Financière de Bastión in Geneva, Switzerland, and served as president of Banco Latino in Miami and Banco Latino in Curaçao.
In November 1993, the World Economic Forum selected him as one of the Global Leaders for Tomorrow.
By December 1994, Banco Latino was the leading recipient of savings deposits, the second in total deposits, and the Latino Group had become the largest conglomerate in the national financial sector.
The Financial Crisis of 1994
editThe financial crisis of 1994 in Venezuela was a critical event that severely impacted the country’s financial system. Under intense political pressure and a prolonged campaign of rumors, Banco Latino experienced a massive outflow of deposits. In an attempt to stabilize the situation, Gustavo Gómez López resigned as president of the bank in November 1993.
In December 1993, Rafael Caldera was elected president of Venezuela. Shortly thereafter, on January 16, 1994, Banco Latino was intervened by the provisional government led by Ramón J. Velásquez and was closed to the public for over 80 days. This intervention stemmed from a long-standing severe economic crisis affecting much of the financial system, the refusal of state financial assistance, and prevailing political tensions.
Banco Latino was the only bank denied financial aid in 1994. As a result of this decision by the Central Bank of Venezuela, the largest financial crisis in the country's history ensued.[2][3] Following the crisis, Gómez López and his wife, Claudia Febres Cordero, faced multiple accusations in Venezuela, Curaçao, and Miami. The charges in Venezuela included:
- Fraudulent approval of credit to related companies.
- Issuance of documents intended to conceal embezzlement.
- Preparation, endorsement, and publication of inaccurate financial statements.
- Continued fraudulent misappropriation or distraction of public funds.
- Violations of fiduciary obligations.
- Preparation, endorsement, certification, submission, or publication of false balances and financial statements.
- Conspiracy.
- Continuity of fraud.
- Illegal possession of a war weapon.
In the courts of Curaçao, they were sued for $1,000,000,000, the largest lawsuit in the island's history. In the Federal Court in Miami, Florida, a lawsuit was initiated under the RICO Act (Racketeer Influenced and Corrupt Organizations Act), accusing them of massive fraud, embezzlement, breach of fiduciary duties, among other charges.
These actions were widely publicized in Venezuela and worldwide, and the intervention board
appointed by President Rafael Caldera hired an American advertising agency for this purpose.[4][5] However, after more than seven years of intense litigation that cost the Venezuelan treasury millions of dollars, Gómez López and his wife won all cases in various jurisdictions, proving their innocence in Venezuela[6], the United States[7], and Curaçao[8].
After demonstrating their innocence, they initiated sanctions proceedings in U.S. courts against FOGADE and its attorneys under Rule 11 and for Malicious Prosecution. In both cases, they achieved favorable outcomes, including confidential settlement agreements.[9]
Banco Latino Internacional is the only EDGE Act Bank in the financial history of the State of Florida that emerged from voluntary Chapter 11 proceedings in 1994 to protect itself from a run on deposits. BLI paid 100% to all its depositors and creditors.[10]
According to the technical financial analysis contained in the book "Anatomía de una Muerte Inducida" by economist and former Venezuelan Minister of Finance Pedro Rosas Bravo, the Venezuelan state recovered 100% of the resources invested by FOGADE in the intervention, thanks to the financial group’s own assets.[11]
Personal Life
editGómez López and his wife, Claudia Febres Cordero, practice law as advisors for various companies and individuals and serve on several boards in Venezuela and other countries.
Recognitions and Awards
editThroughout his career, Gómez López has received numerous accolades at regional, national, and international levels, including:
Regional:
edit• Order of 16 de Septiembre, First Class (September 11, 1982).
• Order of Doctor Tulio Febres Cordero, First Class (May 31, 1991).
• Order of José Félix Ribas, First Class (February 17, 1992).[12]
• Order of the City of Mérida (August 1992).
• Order of José Tadeo Monagas (November 1992).
National:
edit• Order of Merit for Work, Second and First Class.
• Order of Francisco de Miranda, Second Class (1987) and First Class (1990).
• Cross of Land Transit (July 1, 1988).
International:
edit• Key to the City of Miami (July 15, 1993).
• Key to the City of Coral Gables (July 1993).
Professional Associations:
edit• Associate Member of the Society of Natural Sciences La Salle (December 3, 1990).
References
edit- ^ UPATA, Tomo I. Editorial Aguilar, S.A. 8 September 1964. pp. Familia Gómez, pp. 441-446.
{{cite book}}:|first=missing|last=(help); Unknown parameter|apellidos=ignored (|last=suggested) (help) - ^ EnElTapete, Revista. "La costosa muerte del Banco Latino". Revista EnElTapete (in Spanish). Retrieved 2024-07-02.
- ^ "A 30 años de la intervención del Banco Latino: Las cinco olas". LaPatilla. 22 January 2024. Retrieved 02 July 2024.
{{cite news}}:|first=missing|last=(help); Check date values in:|access-date=(help); Unknown parameter|apellidos=ignored (|last=suggested) (help) - ^ "CASO BANCO LATINO - UN CASO POLÍTICO ?". Caso Banco Latino Venezuela (in Spanish). Retrieved 2024-07-02.
- ^ El mono de la Baraja (The Card Joker).
"As stated earlier, Propper is a member of the law office of Ginsburg Feldman & Bress. Moreover, he reported the existence of an agreement signed by Jim Grey and Ted Lowen, representatives of Manning Selvange and Lee, a New York advertising firm, represented in Miami by the earlier-mentioned Julio Garcia. It should be noted that Paragraph 2 of this agreement provides that «cost of public relations activities depends mainly on the time taken to honor requests. Specifically, the activities discussed with Eugene Propper, of the firm of Ginsburg, Feldman & Bress, include the disclosure on U.S. media of a lawsuit (beginning on June 16, 1995) and the immediate coordination of a campaign on major U.S. media, including The New York Times, The Wall Street Journal, The Washington Post, The Miami Herald and the main television networks. In addition, we will be keeping a watchful eye during the initial phase of the campaign with a schedule of answers to any adverse reaction which may be brought on by the lawsuit's publicity.» "
{{cite book}}:|first=missing|last=(help); Unknown parameter|apellidos=ignored (|last=suggested) (help) - ^ "TRIBUNAL SUPREMO DE JUSTICIA". Sala Constitucional. 06 September 2001. Retrieved 02 July 2024.
{{cite journal}}:|first=missing|last=(help); Check date values in:|access-date=and|date=(help); Unknown parameter|apellidos=ignored (|last=suggested) (help) - ^ "Banco Latino Intern. v. Gomez Lopez, 95 F. Supp. 2d 1327 (SD Fla. 2000)". 20 April 2000.
- ^ THE COURT OF FIRST INSTANCE OF THE NETHERLANDS ANTILLES PLACE OF SESSION CURACAO. - Civil affairs 2001 - Sentence March 5th. 2001 - Registration number: AR 1301 of 1995.
- ^ "UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA" (PDF).
"…Nonetheless, Magistrate Judge Garber concluded that BLI and CGSH continued to prosecute this case after it had become evident that there was no evidentiary basis supporting BLI's claims…"
- ^ La Crisis Bancaria 1993-1994, el Banco Latino: Anatomía de una Muerte Inducida. Primicia y Testimonio. February 2023. pp. Capítulo VI. pp. 289 y siguientes.
{{cite book}}:|first=missing|last=(help); Unknown parameter|apellidos=ignored (|last=suggested) (help)CS1 maint: date and year (link) - ^ Marín, Luis (2023-05-22). "El Banco Latino, a la palestra". Analitica.com (in Spanish). Retrieved 2024-07-02.
- ^ "Gustavo Gómez López recibió Orden José Félix Ribas". Notiágil, órgano informativo del grupo financiero Banco de Maracaibo, Nº 35. 17 de febrero de 1992.
{{cite journal}}: Check date values in:|date=(help)
[[Category:Venezuelan lawyers]] [[Category:Venezuelan businesspeople]] [[Category:Venezuelan bankers]]