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Miami professor who wrote book on organized crime laundered millions in dirty money, feds say

For years, University of Miami professor and author Bruce Bagley served as a go-to quote for reporters writing about crime in the Americas. He spoke authoritatively on violent Mexican drug cartels, guerrilla politics in Colombia and violence in Haiti. But Bagley, the feds say, parlayed his mastery of Latin American… Read More

Trump’s Embrace of Sanctions Irks Allies and Prompts Efforts to Evade Measures

President Trump’s increasing reliance on economic sanctions to solve foreign policy problems is fueling concern that the United States is abusing its financial power and prompting some governments to seek ways to evade American measures. In recent months, the United States has increased pressure on Iran and Venezuela, dangled the… Read More

Venezuela’s business elite face scrutiny in $1.2 billion money laundering case

As Venezuela’s oil-based economy continues to crumble, a politically connected class of businessmen with financial ties to Miami has grown fabulously wealthy from energy deals with the socialist government. Among the Venezuelan upper crust who have made fortunes during the Bolivarian revolution: Alejandro Betancourt. Without any experience in the energy… Read More

4th November 2019

Planeloads of Cash From Russia Have Been Shipped to Venezuela

Hundreds of millions of dollars in cash has been shipped from Russia to Venezuela, providing a lifeline to the South American country as U.S. sanctions limit its access to the global financial system. A total of $315 million of U.S. dollar and euro notes were sent in six separate shipments… Read More

1st November 2019

U.S. Considers Targeting Spain in Latest Push Against Maduro Regime

Officials in the Trump administration are pushing for financial sanctions against Spain for what they say is its financial support of Nicolas Maduro’s regime in Venezuela, according to people familiar with the matter. The U.S. Treasury Department is considering sanctions against Spain’s central bank and measures against other entities where… Read More

29th October 2019

Pillaging El Dorado: Here is how Maduro and his cronies siphon out Venezuela’s gold

Venezuela’s vast gold deposits, which could go a long way in easing the pain of millions nearing starvation, are being pillaged outright by a consortium led by strongman Nicolás Maduro and his inner circle, who smuggle out hundreds of millions in the precious metal while sending only a minor… Read More

25th October 2019

Is There a Link Between the Dollarization of Venezuela and Organized Crime?

“Eat here for $1,” reads a large sign in red letters outside a fast food joint in the center of Caracas, the capital of Venezuela. Rayza Calaforra comes her to eat almost every day. For one dollar, she can buy an arepa (a traditional corncake) for breakfast. When the menu… Read More

25th October 2019

Rosneft switches contracts to euros from dollars due to U.S. sanctions

Russia’s largest oil company Rosneft (ROSN.MM) has fully switched the currency of its contracts to euros from U.S. dollars in a move to shield its transactions from U.S. sanctions, its Chief Executive Igor Sechin said on Thursday. Rosneft’s switch to the euro is seen as part of Russia’s… Read More

24th October 2019

Venezuela dirty money probe: Malta’s MFSA ordered to finalise Portmann review

Malta’s financial services tribunal has upheld a complaint by a wealth management firm embroiled in a United States investigation on dirty money from Venezuelan politicians, saying the regulator’s decision to stop Portmann Capital Management from taking on new clients was not in line with the law. The FST… Read More

22nd October 2019

Money Laundering May Have Fueled Luxury US Lifestyle of Hugo Chavez’s Daughter

The daughter of late Venezuelan President Hugo Chávez allegedly used a secret bank account in the United States for two years to make million-dollar purchases, adding to a long list of money-laundering accusations against the Chávez family. According to a report by Diario Las Américas, María Gabriela… Read More

17th October 2019

How Hezbollah’s Terrorist Financing Roots Grew into the Drug World

Understanding why Hezbollah has deep roots in the drug trade requires a historical view of Lebanon. Read More

16th October 2019

India cannot sacrifice economic strength to comply with U.S. sanctions: Finance Minister

India wants to comply with global sanctions, including U.S. sanctions on Venezuela and Russia, but also needs to maintain its own strength and strategic interests, Finance Minister Nirmala Sitharaman said in an interview on Tuesday. The United States in January imposed the toughest sanctions yet on Venezuela’s oil industry. The… Read More

16th October 2019

A Swiss Bank Keeps Cropping Up in Venezuelan Corruption Cases

As Venezuela’s chronic food shortages began intensifying, Naman Wakil, a former street peddler who made millions of dollars supplying meat to the socialist government’s food programs, decided to share the wealth. Wakil ordered his Swiss bankers to transfer $5.9 million to relatives of state Food Minister Carlos Osorio, who’d given… Read More

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