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ML/TF updates

US: 8 charged in $1.2B Venezuelan money-laundering scheme

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July 25, 2018 by 332 Views
July 25, 2018 by in ML/TF updates
Federal prosecutors say eight people have been charged with playing roles in a $1.2 billion money-laundering scheme involving Venezuela’s state-run oil and natural gas company.

Miami U.S. Attorney Benjamin Greenberg said in a news release Wednesday the scheme began in 2014 with bribery and fraud at the state-run PDVSA enterprise and grew over time. A criminal complaint contends the scheme involved members of the Venezuelan elite, money managers, brokerage firms, banks and real estate investment firms.

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