US detains man accused in multi-billion Venezuelan money laundering scheme

What the report says

US authorities have detained Álvaro Pulido, a Colombian businessman accused in federal cases of laundering money linked to Venezuelan government corruption schemes, according to BBC World News. The arrest was announced by the US Department of Justice as part of a Homeland Security Task Force operation on Sunday, with Pulido expected in court on Tuesday. Officials had previously offered a $10 million reward for information leading to his arrest.

The BBC reported that prosecutors say Pulido, 62, is tied to indictments involving more than $2 billion in alleged money laundering connected to Venezuelan bribery schemes. They allege he and other co-defendants bribed officials to win contracts to supply food and medicine to poor Venezuelans, then overcharged the government and moved profits through bank accounts abroad, including in the United States. US prosecutors also say he worked with Alex Saab in a separate scheme involving Venezuela’s currency exchange system.

Pulido had been held in Venezuela since March 2023 on accusations related to the state oil company PDVSA, but the article said US officials did not explain how he came into US custody. His detention comes shortly after Saab pleaded guilty in a US court to money laundering charges. The case highlights continuing US scrutiny of alleged corruption networks tied to the Venezuelan state and its former allies.