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Maduro ally Alex Saab pleads guilty in a $195M money laundering case, agrees to cooperate
Saab agreed to cooperate with federal investigators and forfeit $195 million after admitting he helped route bribes through Venezuela’s food contracts.
- On Tuesday, 55-year-old businessman Alex Saab pleaded guilty in Miami federal court to one count of money laundering conspiracy, agreeing to forfeit $195 million and cooperate with U.S. investigators.
- Admitting to an extensive bribery system, Saab confirmed the scheme "had the approval, participation and protection of some of the Venezuelan government's highest ranking public authorities" while utilizing shell companies to skim funds.
- Former Gov. Jose Gregorio Vielma Mora received $17 million in kickbacks, and an individual identified as "Government Official 1A" designated a surrogate to receive bribe payments on their behalf.
- Prosecutors may now use Saab as a witness against former Venezuelan President Nicolas Maduro, who awaits a separate trial in New York on drug charges after being captured by U.S. Special Forces.
- With Maduro's trial scheduled for June 1, 2027, the U.S. administration is simultaneously pivoting toward energy partnerships with entrepreneur Alejandro Betancourt to access oil fields holding 65 billion barrels of crude.
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In Miami, Alex Saab, former Minister of Industry of Venezuela, pleaded guilty to conspiracy to launder money, reported to the U.S. Department of Justice. "Alex Naim Saab Moran, age 54, from Caracas, Venezuela, who had previously lived in Barranquilla, Colombia, former Minister of Industry in the Government of former President Nicholas Maduro of Venezuela, today pleaded guilty to conspiracy to launder money," says the Department of Justice. A con…
Maduro Ally Alex Saab Pleads Guilty in $195M Money Laundering Case, Agrees to Cooperate | FRONTLINE | PBS
As part of the plea deal, Saab agreed to cooperate in continuing federal investigations and forfeit $195 million in criminal proceeds from the corruption scheme, our partner AP reports.
·Arlington, United States
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Total News Sources10
Leaning Left6Leaning Right2Center2Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
C 20%
R 20%
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