Desecrating The Art Of The Deal
It seemed plausible enough. In the early 1990s Cuba was still reeling from the collapse of the Soviet Union and the loss of Moscow’s $4 billion annual subsidy. And the head of CFC, Peter Scott, a Scottish specialist in Latin markets, thought foreign capital was Castro’s only way out. In 1996 Scott had launched Beta Gran Caribe, the world’s first investment fund focused on Cuba. Among his initial joint ventures was the $5 million, five-story Paradisio apartment complex in the tony beachside Havana suburb of Miramar....