Venezuela

Featured Venezuela

Venezuela’s International Appetite for Stolen Luxury Cars

By Mark Wilson, Insight Crime, 7 October 2021 Insight Crime — Specialist gangs have been caught smuggling expensive vehicles from Colombia into Venezuela, shining a spotlight on how an increasingly dollarized economy has allowed a black market for luxury goods to thrive. In late September, thieves hijacked a Toyota… Read More

Enduring Italians, Ambitious Albanians – How Cocaine is Changing Europe’s Criminal Landscape

By Chris Dalby, InSight Crime, 21 September 2021 InSight Crime — Ever greater quantities of cocaine are making their way across the Atlantic and are being sold at ever greater prices across Europe. A new Europol report reveals how this has changed the way organized crime operates… Read More

Álex Saab, Venezuela’s Keeper of Financial Secrets, Approved For Extradition to US

By Seth Robbins, InSight Crime, 7 September 2021 Insight Crime — A court in Cabo Verde has approved the extradition to the United States of Colombian businessman Álex Saab, who may hold key information on alleged money laundering schemes involving Venezuelan President Nicolás Maduro and other top… Read More
25th August 2021
With U.S. sanctions spooking key oil buyers and depriving its government of cash, Venezuela last year inked a deal with a little-known local company to swap crude for food, Reuters has learned. That agreement saw state oil company PDVSA, beginning in December 2020, deliver more than 6 million barrels of… Read More
19th August 2021
It’s not your typical South Florida weapons case alleging the export of missiles or assault rifles to a rogue nation. Jorge Nobrega is a prosperous Miami businessman who sold foam to the Venezuelan air force — but U.S. authorities say this was a military-grade foam used to protect fuel tanks… Read More
12th August 2021
In an agreement to get released from a Miami federal lockup, a Venezuelan businessman accused of stealing a fortune from foreign government contracts must secure a $50 million bond with luxury properties in South Florida and a vast sum of money from his Swiss bank account. Naman Wakil, who was… Read More
4th August 2021
For the past decade, wealthy Venezuelan Naman Wakil has traveled the globe for business deals while living with his family in a $3.5 million Coconut Grove condominium overlooking Biscayne Bay. On Tuesday morning, federal agents arrested Wakil in a vast money laundering conspiracy case accusing him of making an illicit… Read More
23rd July 2021
The United Kingdom on Thursday imposed asset freezes and travel bans on five individuals accused of enriching themselves from illicit schemes that worsened human suffering in Equatorial Guinea, Zimbabwe, Venezuela and Iraq. The sanctions announced by UK Foreign Secretary Dominic Raab under the nation’s Global Anti-Corruption sanctions regime target Equatorial Guinea’s… Read More
19th July 2021
The Cyprus maritime and business sector is being used by shipowners in the European Union to register and flag tankers involved in Venezuelan oil trades with tacit acceptance from the republic’s shipping ministry, a Lloyd’s List investigation has found. At least 11 elderly tankers involved in Venezuelan trades have moved… Read More
14th July 2021
Top oil shipping companies say they have tightened operational guidelines and deployed technology to prevent accidental breaches of sanctions, as the countries hit by ever tougher restrictions fight back with elaborate strategies to dodge them. Washington has ramped up shipping-related sanctions over the last two years to make it harder… Read More
13th July 2021
Citigroup Inc. plans to exit Venezuela by selling its remaining business there, ending more than a century of operating in the South American country. The New York-based firm agreed to sell the unit to Banco Nacional de Credito, has already obtained regulatory approval and expects to complete the deal in… Read More
28th June 2021
A group of Spaniards drove up a private road on the dry plateau west of Madrid. The four entrepreneurs, hungry for cash for their promising startup, were headed to meet a wealthy young Venezuelan, owner of the hilltop castle ahead. The meeting, according to three people familiar with that July… Read More
24th June 2021
The owner of a transportation company that hauls gold around the country has been charged in a massive money-laundering case extending from Latin America to South Florida that is still shaking up the precious-metals industry four years after the initial indictment was filed in Miami. Jesus Gabriel Rodriguez Jr., CEO… Read More