Trial under way in $100 million lawsuit against Venezuela
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A federal trial over a $100 million investors' lawsuit against Venezuela includes allegations of fraud, hints of an international criminal conspiracy and references to diamonds, junk bonds and a mysterious house fire in Switzerland.
At issue are three-decade old promissory notes issued by a now-defunct government-sponsored Venezuelan bank.
Skye Ventures in Columbus, where the purchase of the notes happened, says Venezuela has confirmed the debts are the government's obligations and must be paid.
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Lawyers representing Venezuela say the notes are fakes with forged signatures and were never guaranteed by the government.
A trial expected to last four to six weeks is under way before federal Judge Edmund Sargus after Skye Ventures' 2004 lawsuit survived multiple legal challenges.