Two Members of Billion-Dollar Venezuelan Money Laundering Scheme Arrested

[nitpicker]

https://www.justice.gov/opa/pr/two-members-billion-dollar-venezuelan-money-laundering-scheme-arrested

Department of Justice
Office of Public Affairs

FOR IMMEDIATE RELEASE
Wednesday, July 25, 2018

Two Members of Billion-Dollar Venezuelan Money Laundering Scheme Arrested

Two alleged participants in a billion-dollar international scheme to launder funds embezzled from Venezuelan state-owned oil company PDVSA using Miami, Florida real estate and sophisticated false-investment schemes were arrested yesterday and today.
(snip)

Matthias Krull, 44, a German national and Panamanian resident, and Gustavo Adolfo Hernandez Frieri, 45, a Colombian national and naturalized U.S. citizen, were charged in a criminal complaint with conspiracy to commit money laundering. The complaint also charged Francisco Convit Guruceaga, 40; Jose Vincente Amparan Croquer, aka, “Chente,” 44; Carmelo Urdaneta Aqui, 44; and Abraham Eduardo Ortega, 51, all Venezuelan nationals; and Hugo Andre Ramalho Gois, 39, a Portuguese national, and Marcelo Federico Gutierrez Acosta y Lara, 40, a Uruguayan national, for their alleged participation in the scheme. These defendants remain at large. Krull was arrested last night in Miami and had his initial court appearance earlier today before U.S. Magistrate Judge Alicia M. Otazo-Reyes in Miami. Krull is scheduled to have a pre-trial detention hearing on July 30, and a preliminary hearing on Aug. 8. Frieri was arrested today in Sicily, Italy and faces extradition proceedings.

According to the criminal complaint, the conspiracy in this case allegedly began in December 2014 with a currency exchange scheme that was designed to embezzle around $600 million from PDVSA, obtained through bribery and fraud, and the defendants’ efforts to launder a portion of the proceeds of that scheme. By May 2015, the conspiracy had allegedly doubled in amount to $1.2 billion embezzled from PDVSA. PDVSA is Venezuela’s primary source of income and foreign currency (namely, U.S. Dollars and Euros).

The complaint alleges that surrounding and supporting these false-investment laundering schemes are complicit money managers, brokerage firms, banks and real estate investment firms in the United States and elsewhere, operating as a network of professional money launderers.

The alleged conspirators include former PDVSA officials, professional third-party money launderers, and members of the Venezuelan elite, sometimes known as “boliburgués.”
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[Hotler]

1. US banks and firms laundering money, I'm shocked.

The complaint alleges that surrounding and supporting these false-investment laundering schemes are complicit money managers, brokerage firms, banks and real estate investment firms in the United States and elsewhere, operating as a network of professional money launderers.
(snip)

Our banks have been laundering money since Iran-Contra.