Customs detected that an Argentine firm imported 10.745.000 latex gloves irregularly and, through a maneuver of financial triangulation, obtained more than USD 4.5 million from the Central Bank.
The procedure, carried out by specialized agents of the General Directorate of Customs-AFIP, detected that the merchandise —which was in a warehouse in the La Plata Free Trade Zone— had been declared at a high value for the type of product which involved: while the unit price listed in the transaction is USD 0,51, Customs considers that the reasonable value —based on value studies and background— is closer to USD 0,085 (USD 8,5 per box of 100 units). This means an overbilling of 600%.
The maneuver is especially serious given that it takes advantage of the fact that, within the framework of the health emergency, Decree 333/2020 had exempted gloves and masks for medical use from paying import duties.
Thus, while the tariff payment for the operation is zero, what is significant is its impact on foreign exchange reserves. In this context, Guillermo Michel, Director General of Customs, stated emphatically: "We must protect dollars for production and work, not for financial speculation.”
The triangulation maneuver
The gloves have their origin Malaysia, Hong Kong and China, but they entered the country by re-invoicing the merchandise from Uruguay and Brazil.
In turn, the turns to the outside were triangulated through US-based banks.
Likewise, within the framework of the same investigations, a triangulation was also detected and about invoicing of USD 1.7 million in medical masks, which, added to the overbilling detected in the import of gloves, gives a total of USD 6.2 million.
The criminal case
The complaint filed by Customs gave rise to a criminal case which was filed in the Federal Criminal and Correctional Court Number 3 of La Plata, of Federal Judge Ernesto Kreplak.
The crimes of smuggling and violation of the Criminal Exchange Law are being investigated.
The measures ordered by the courts involved the search of homes linked to the companies and the seizure of cell phones. The operation was carried out in conjunction with the DGI and ARBA.
In addition, Customs requested that the courts activate, through the UIF, the mechanisms for exchanging information with the anti-money laundering units of the United States (FinCen), Uruguay (National Secretariat for the Fight against Money Laundering and the Financing of Terrorism — SENACLAFT) and Brazil (Anti-Money Laundering and Counter-Terrorism Financing Agency — LA/FT).
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
