The Citgo conspiracy: Opposition figures accuse Guaidó officials of ‘scam’ to liquidate Venezuela’s most prized international asset
Venezuela’s opposition has long accused the Bolivarian government of corruption and mismanagement. But with Citgo on the verge of liquidation, Guaidó’s officials are too incompetent — or too devious — to save it. by Anya Parampil Part 3 - Jose Ignacio Hernández’s alter ego To win its lawsuit against the Venezuelan government, Crystallex had to persuade a judge it had the right to seize Citgo’s shares through a legal concept known as “alter ego.” In business law, alter ego is described as “lifting the corporate veil,” or proving the “instrumentality” of a company. It is the doctrine through which a court determines that a private corporation, such as Citgo, merely serves as cover for an individual or group, in this case the Venezuelan government. Only by “lifting the corporate veil” and proving Citgo to be an “instrument” of the Venezuelan state could Crystallex justify seizing assets belonging to the private, US-based corporation as compensation for money owed by the