Latin America: Fall of the Bembergs

On the boss's 57th birthday, the mighty House of Bemberg was raided. In Buenos Aires last week, over the protests of Otto Bemberg, Argentine federal police ransacked the vaults, carted off records, securities, correspondence, bars of gold and sacks of coin from the Crédito Industrial y Comercial, banking center of the Bemberg empire. Later they frisked other Bemberg strongholds in Buenos Aires.

The seizure shook Argentina, for the Bembergs are the richest family in the country, one of the richest in the world. Otto Bemberg came from Germany in 1868. His son, Otto Sebastian,...

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