▁Sal omon ▁Smith ▁Bar ney . ▁ ▁The ▁charges ▁per tain ed ▁to ▁the ▁ 2 0 0 1 ▁Meg as w ap ▁negoti ated ▁between ▁Econom y ▁Minister ▁Dom ingo ▁Caval lo ▁and ▁said ▁banks . ▁Caval lo ▁attempted ▁to ▁avoid ▁a ▁bond ▁default ▁by ▁offering ▁bond hold ers ▁a ▁swap , ▁where by ▁longer - term , ▁higher - inter est ▁b onds ▁would ▁be ▁ex changed ▁for ▁b onds ▁coming ▁due ▁in ▁ 2 0 1 0 . ▁The ▁Meg as w ap ▁was ▁accepted ▁by ▁most ▁bond hold ers ▁( part icular ly ▁banks , ▁which ▁used ▁the ▁Meg as w ap ▁to ▁shed ▁rapidly ▁dep reci ating ▁b onds ), ▁and ▁delayed ▁up ▁to ▁US $ 3 0 ▁billion ▁in ▁pay ments ▁that ▁would ▁have ▁been ▁due ▁by ▁ 2 0 0 5 ; ▁but ▁it ▁also ▁added ▁US $ 3 8 ▁billion ▁in ▁interest ▁pay ments ▁in ▁the ▁out ▁years , ▁and ▁of ▁the ▁US $ 8 2 ▁billion ▁in ▁b onds ▁that ▁eventually ▁had ▁to ▁be ▁rest ruct ured ▁( trigger ing ▁a ▁wave ▁of ▁hold out ▁law su its ), ▁ 6 0 % ▁were ▁issued ▁during ▁the ▁ 2 0 0 1 ▁meg as w ap . ▁He ▁and ▁President ▁de ▁la ▁R ú a ▁were ▁ind icted ▁in ▁ 2 0 0 6 ▁for ▁mal fe as ance ▁in ▁public ▁office ▁related ▁to ▁the ▁Meg as w ap , ▁but ▁were ▁cleared ▁of ▁all ▁charges ▁in ▁ 2 0 1 4 . ▁