PDVSA to guarantee pension fund investments lost in US fraud

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VENEZUELA - Petroleos de Venezuela will cover losses suffered by the company's pension fund when it invested in an alleged Ponzi scheme in the US, Oil Minister Rafael Ramirez said.

PDVSA, as the state oil company is known, is not responsible for the losses because the operator of the Stamford, Connecticut-based hedge who committed the fraud wasn't an employee, Ramirez said in...

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