Friday, October 30, 2020

Two Colombian Businessmen Charged With Money Laundering in Connection With Venezuela Bribery Scheme

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Two Colombian businessmen were charged in an indictment returned today for their alleged roles in laundering the proceeds of violations of the Foreign Corrupt Practices Act (FCPA) in connection with a scheme to pay bribes to take advantage of Venezuela’s government-controlled exchange rate.

Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division, U.S. Attorney Ariana Fajardo Orshan of the Southern District of Florida and Special Agent in Charge Adolphus P. Wright of the Drug Enforcement Administration’s (DEA) Miami Field Division made the announcement.

Alex Nain Saab Moran (Saab), 47, and Alvaro Pulido Vargas (Pulido) 55, both citizens of Colombia, were each charged in an eight-count indictment returned in the Southern District of Florida with one count of conspiracy to commit money laundering and seven counts of money laundering.

The indictment also alleges and seeks forfeiture in excess of $350 million representing the amount of funds involved in the violation.

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The indictment alleges that beginning in or around November 2011 and continuing until at least September 2015, Saab and Pulido conspired with others to launder the proceeds of an illegal bribery scheme from bank accounts located in Venezuela to and through bank accounts located in the United States.

According to the indictment, Saab and Pulido obtained a contract with the Venezuelan government in November 2011 to build low-income housing units.

Read MoreUS sanctions stepsons of Venezuelan President Nicolas Maduro for alleged food corruption

The defendants and their co-conspirators then allegedly took advantage of Venezuela’s government-controlled exchange rate, under which U.S. dollars could be obtained at a favorable rate, by submitting false and fraudulent import documents for goods and materials that were never imported into Venezuela and bribing Venezuelan government officials to approve those documents.

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The indictment alleges that the unlawful activity was a bribery scheme that violated the FCPA and involved bribery offenses against Venezuela.

It also alleges that meetings in furtherance of the bribe payments occurred in Miami and that Saab and Pulido wired money related to the scheme to bank accounts in the Southern District of Florida.

As a result of the scheme, Saab and Pulido transferred approximately $350 million out of Venezuela, through the United States, to overseas accounts they owned or controlled, the indictment alleges.

An indictment is merely an allegation and the defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

This case was investigated by DEA Miami Field Division with assistance from the FBI’s Miami Field Office and U.S. Immigration and Customs Enforcement’s Homeland Security Investigations Miami Field Office.

Trial Attorney John-Alex Romano of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Michael B. Nadler of the Southern District of Florida are prosecuting the case.

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