Swiss asset manager charged in Venezuelan bribery case
A man walks in front of a mural outside the headquarters of the state-owned Petroleos de Venezuela S.A (PDVSA), in Caracas, Venezuela, on April 21, 2022.
Keystone / Ronald Pena
A financial asset manager from Switzerland and another from Argentina have been charged in an alleged $1.2 billion (CHF1.2 billion) Venezuelan money-laundering scheme.
This content was published on
1 minute
Keystone-SDA/Reuters/sb
Español
es
Gerente de activos suizo acusado en presunto caso de soborno en Venezuela
A US court indictment alleges that from 2014 to 2018 the 48-year-old Swiss and 51-year-old Argentinian conspired with others to launder the proceeds of an illegal bribery scheme that corruptly obtained funds from Petroleos de Venezuela S.A. (PDVSA), Venezuela’s state-owned energy company, the US Justice Department said in a statementExternal link on Tuesday.
According to court documents, the pair laundered proceeds from a foreign currency exchange scheme involving bribery of Venezuelan officials.
The men allegedly organised “sophisticated financial mechanisms and relationships” to launder more than $200 million and open accounts for at least two Venezuelan officials to receive bribes.
The pair face up to 20 years in prison for conspiracy to commit money laundering if convicted. The Argentinian has been arrested and is pending extradition from Switzerland.
The Swiss suspect remains at large.
More
More
Banking secrecy remains a business model for Swiss banks
This content was published on
Swiss officials have discovered CHF9 billion in embezzled Venezuelan public funds spread across hundreds of bank accounts.
Iran summons Swiss ambassador over US and Italy arrests
This content was published on
Iran has summoned the Swiss ambassador, who represents US interests, to protest against the arrest in the US and Italy of two Iranians.
Swisscom receives greenlight for acquisition of Vodafone Italia
This content was published on
The takeover of Vodafone Italia by Swisscom is nearing completion. All relevant authorities have now approved the €8 billion (CHF7.45 billion) deal.
Novo Nordisk stock market plunge drags down Swiss device maker Ypsomed
This content was published on
The Danish pharmaceutical giant, Novo Nordisk, faced setbacks on Friday that weighed on the share price of Swiss injection device manufacturer Ypsomed.
Swiss press react to EU deal with mix of euphoria and scepticism
This content was published on
Swiss media reaction to the agreement between Switzerland and the EU varies widely. Some are celebrating, while others worry about what is to come.
Swiss Solidarity donations to tackle child abuse top CHF4 million
This content was published on
Swiss Solidarity, the humanitarian arm of the Swiss Broadcasting Corporation (SBC), has raised over CHF4 million ($4.3 million) to tackle child abuse.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
More Swiss banks slammed for Venezuela business
This content was published on
Switzerland’s financial regulator has reprimanded two more banks for money laundering in connection with a Venezuelan state oil company.
Banking secrecy remains a business model for Swiss banks
This content was published on
Swiss officials have discovered CHF9 billion in embezzled Venezuelan public funds spread across hundreds of bank accounts.
Swiss bank caught in Venezuelan money-laundering scandal
This content was published on
The Swiss Financial Market Supervisory Authority (FINMA) has found that Banca Credinvest “seriously violated money-laundering regulations”.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.