Featured Venezuela

How banks helped Venezuela’s ‘boligarchs’ extract billions

By Sasha Chavkin and Patricia Marcano, ICIJ, 21 September 2020 ICIJ — On a rusty gas stove in Selena Ramirez’s apartment, a small flame was glowing. Ramirez, 69, shares the apartment with her daughter and 11-year-old grandson. It is on the ground floor of a government housing complex in San Francisco… Read More

FinCEN Files: Dublin business features in leak of US treasury documents

An unprecedented glimpse into the staggering amounts of suspect money that flow through the international banking system is revealed in leaked files from an agency of the US Department of the Treasury that have been seen by The Irish Times. The files show that the world’s largest banks play a… Read More

Court unfreezes accounts of Mexican firm sanctioned by U.S.

A Mexican court has unfrozen the bank accounts of a local company blacklisted by the United States for trading in oil with Venezuelan state oil firm PDVSA despite U.S. sanctions, Mexico’s anti-money laundering unit said on Saturday. In a statement, Mexico’s Financial Intelligence Unit (UIF) said it disagreed with the… Read More
18th September 2020
The US Department of Justice (DoJ) has moved to seize $330m (£256m) held in the bank account of a major London law firm which prosecutors allege is derived from the proceeds of one of the world’s largest financial frauds. The DoJ has filed civil forfeiture proceedings against funds… Read More
16th September 2020
A sleek blue-and-white yacht worth $1 million has been moved from a dock on the Miami River to a marina in Aventura, but a legal dispute over the actual owner of the Italian-made vessel is still up in the air. A Miami federal judge weighed in on the fate of… Read More
8th September 2020
Swiss banks first surfaced as handlers of illicit Venezuelan oil money in 2016, when U.S. Attorney Preet Bharara sought records from more than 18 of them on of bribery at PDVSA, a state-owned oil and natural gas company. Precisely two weeks later, Switzerland’s financial regulator built its annual meeting… Read More
4th September 2020
By Zachary Goodwin, InSight Crime, 2 September 2020 InSight Crime – Raids across Costa Rica have exposed a web of front companies filtering illegally mined gold to the United States, in the kind of multimillion-dollar laundering scheme not typically associated with the Central American country. In late August, Costa… Read More
3rd September 2020
A Venezuelan businessman charged in Miami with laundering millions of dollars from oil contracts was gunned down Tuesday by a motorcycle assassin in Venezuela, according to authorities. Leonardo Santilli died from several gunshot wounds in what police described as a possible professional hit, authorities said. According to press reports, the… Read More
2nd September 2020
A former Venezuelan oil official fled the country and is talking to U.S. authorities about aiding their investigation of a high-level corruption scheme that helped plunge the oil-rich nation into an economic meltdown. Carmelo Urdaneta Aqui, a onetime legal counsel to the country’s powerful oil ministry, will appear in a… Read More
21st August 2020
A former procurement officer at a Petróleos de Venezuela SA subsidiary has pleaded guilty to an alleged role in a bribery scheme and a former Citgo manager has been indicted on money-laundering charges in the latest developments in a sprawling U.S. probe into alleged corruption at Venezuela’s state-owned energy company. Read More
10th August 2020
UBS Group AG is severing ties with some Venezuelan clients it serves from the U.S. as the Trump administration tightens sanctions on a country that’s mired in a power struggle. The decision affects a number of accounts with links to Venezuela’s government or to Petroleos de Venezuela SA, the… Read More
4th August 2020
AP — It was 2014 and Venezuela’s former treasurer Claudia Díaz was looking for a safe haven to store the unexplained wealth she had accumulated over the years. Then-president Hugo Chávez, who she once served as a nurse, had recently died and with the election of Nicolás Maduro, the nation’s… Read More
4th August 2020
The Islamic Revolutionary Guard Corps (IRGC), a branch of Iran’s army, is believed to be behind the opening of a superstore in Venezuela in the latest attempt to defy American-led sanctions. The Caracas branch of Megasis was officially opened last week by the Iranian ambassador and the Venezuelan vice-president. The… Read More