telecommunications company Intercable, now known as Inter, was born in 1996 in
the city of Barquisimeto, western central Venezuela. Two years before, Alberto
Imar had the first contact with Maiman's group, according to an email interview.
"They asked me for a professional opinion about the project they had, together
with other partners, to launch a subscription TV company in Venezuela." He was
called like other executives with experience in the field.
according to that story, Imar dragged Eduardo Stigol. Together, they made the
market studies, the business plan and offered themselves as an independent
management to carry out that project. They knew each other from Argentina and
both had experience with subscription television, unlike Maiman who, according
to Stigol, joined Inter as a shareholder "who did not understand this business"
and put up "some capital" at the beginning. "Some" could have meant around three
million dollars, as he recalls, a figure that considers "very small" for an
entrepreneur "as big as he (Maiman) was at that time."
I did not consider him a "small investor." "He was a major partner, who made a
small investment in a business in Latin America. He was going to wait for
results in time. Unfortunately, the political condition in Venezuela did not
allow results and he did not see them," said Eduardo Stigol, president of
Intercable was born, it was still a year before Venezuelan Bentata’s lawyers
contacted those of MF, but Stigol affirmed that "originally they were the same
partners" of Vision Investments Equities, including Maiman. However, both he and
Imar insist on dissociating themselves and Inter from Maiman, Vision Investments
Equities and, in general, from any other company or business related to Maiman.
They claim that they were never their employees or of any of their companies,
that since 1998, he was a "minority shareholder" who never had "anything to do
with the management of the company."
may had seen him (Maiman) five times in all my life. He had an executive, Sabih
Saylan, who did visit Venezuela frequently at the beginning, in those years
(late 90's), because he had other businesses, and he was the one who called me
to ask how the business was doing. But for them, ours was a business where they
were never involved, and I totally do not know what other businesses they had,"
who is very active in communications on behalf of the Mossack Fonseca group,
seconded Stigol, "We were totally oblivious to the other businesses of Maiman,
in Venezuela and abroad. Our only connection was Inter, where he was a minority
partner. We learned about the problems he had with Peruvian justice through the
media, just like the rest of the world."
owner of the Inter brand in Venezuela is Corporación Telemic C.A. Based on
information from RNC (National Register of Contractors), in 2015, all the shares
of Corporación Telemic C.A. belonged to a company registered in Luxembourg,
Venezuela Cable Service Holdings, Ltd., and although it appears as dissolved
since September 2015, Imar insists that it is still valid in another
jurisdiction, but he does not specify which one, and that it still owns
what follows, the statements of Stigol and Imar do not agree. According to Imar,
the owner of Venezuela Cable Service Holdings is Intercable Holdings, a company
active in the Cayman Islands since February 2011. For Imar, the chain ends in
Venezuela Cable Service Holdings. In any case, both agree that since 1998, the
majority shareholder is a fund that is now leaded by US investor Tom Hicks -of
the late HM Capital Partners- and a group of banks, including Citibank and
Chase. Together they control 75% of the company. The remaining percentage of
shares is divided among other shareholders, including original shareholders
Stigol and Imar.