Former Treasurer of Venezuela Received $ 1 Billion in Bribes

Venezuela’s former treasurer admitted to receiving bribes of more than $ 1 billion as part of illicit foreign-currency operations involving a local television mogul who is now accused in US courts, according to court documents from the United States that were revealed on Tuesday.

Alejandro Andrade, who led the treasury for four years under the late socialist leader Hugo Chávez, received properties, Rolex watches from platinum and gold and Mercedes Benz vehicles thanks to the plan, say documents from the Southern District of Florida, according to a note from the agency Reurters

He did so with the help of conspirators, including Raul Gorrin, owner of the Globovisión television station, who was accused of paying bribes to Andrade and others, as well as helping to wash the payments, according to unsealed documents this week.

The cases are part of a broad effort on the part of US federal prosecutors to crack down on the use of the United States’ financial system to launder the proceeds of rampant corruption in the country affected by the hyperinflation crisis.

President Nicolás Maduro has spoken little about criminal proceedings against former Venezuelan officials, but says the United States is trying to undermine his government through financial sanctions.

The Ministry of Information of Venezuela did not respond immediately to a request for comments.

According to the documents, Andrade, who was treasurer from 2007 to 2011, and Gorrin made large sums taking advantage of Venezuela’s exchange controls.

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US prosecutors also announced a guilty plea by Gabriel Jimenez, a Venezuelan citizen who admitted to conspiring with Gorrin and others to acquire Banco Peravia, based in the Dominican Republic, and use it to help wash the money bribe.

Reuters could not get comments from Andrade or Jiménez. Gorrin’s defense attorney, Howard Srebnick, did not immediately respond to a request for comment.

CHANGE CONTROLS

Since 2003, the exchange control system has sold heavily subsidized dollars through state currency agencies or government auctions. But the dollars in the black market have reached at least double and sometimes 10 times more, allowing the well connected to buy dollars at a reduced price and resell them at a great profit.

Andrade received bribes from brokerages to sell dollar-denominated bonds on behalf of the government, the documents said.

The brokers kept part of the profits and gave him back bribes by buying items including 17 horses, 35 luxury watches, 12 cars and six homes in South Florida, according to a list of property he agreed to give to the authorities of the USA UU. He also delivered nine bank accounts in the United States and Switzerland, the documents said.

Andrade, at the end of 2017, agreed to plead guilty to a charge of violating the US Foreign Corrupt Practices Act. UU And this month it agreed to deliver the assets, according to the documents, which were sealed until Tuesday.

Gorrin, who also owns insurance company Seguros La Vitalicia, was indicted in an indictment released Monday for violating US anti-corruption laws. UU In an attempt to obtain contracts to carry out currency exchange operations for the government.

Between 2008 and 2017, Gorrin provided more than $ 150 million in bribe payments to Venezuelan treasury officials to access cash transactions, with funds transferred from Swiss bank accounts to accounts in Florida, US prosecutors said.

A press release from the US Department of Justice said on Tuesday that Gorrin paid bribes to Andrade.

Neither Globovisión nor La Vitalicia responded to the requests for comments. Gorrin’s whereabouts were not immediately clear. He faces a maximum penalty of 45 years in prison if convicted.

According to the indictment, Gorrin allegedly also bought planes, yachts, “champion horses” and luxury watches in Florida and Texas for a government official as a bribe.

A biography on Gorrin’s personal website describes him as a lawyer and a businessman who loves salsa. He bought a 25 percent stake in an insurer that would later be known as La Vitalicia in 2008, 10 years after Chávez came to power.

Globovisión, once a virulent anti-government station, reviewed coverage and softened criticism of Chávez’s successor, Nicolas Maduro, after Gorrin bought the channel in 2013, reporters said at the time.