Former Maduro ally pleads guilty to money laundering and fraud

What the report says

Alex Saab, a Colombian-Venezuelan businessman long seen as a close ally of Venezuelan President Nicolas Maduro, pleaded guilty in a US federal court in Miami to laundering money tied to a bribery and fraud scheme. Al Jazeera, citing US court proceedings and Justice Department statements, reported that Saab admitted on Tuesday to helping organise bribes for Venezuelan officials so companies he secretly controlled could win state contracts to supply food and medicine.

Prosecutors said the scheme was linked to CLAP, Venezuela’s subsidised food programme, and involved fake companies, false invoices and shipping records used to divert funds meant for public benefit. Saab also acknowledged using his political ties to gain access to oil linked to state firm PDVSA and selling it under false pretences while US sanctions were affecting Venezuela’s economy. Under the plea agreement, he pleaded guilty to one count of conspiracy to launder monetary instruments, which carries a possible 20-year sentence.

As part of the deal, Saab agreed to forfeit $195m and cooperate with ongoing investigations, while prosecutors said they would seek a lower sentence if that cooperation is substantial. The case is his second US prosecution after earlier arrests and legal moves involving Cape Verde, clemency in 2023, and a later indictment. It underscores continuing US efforts to pursue alleged corruption linked to Venezuela’s state institutions and political network.