Swiss asset manager charged in Venezuelan bribery case
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.
Pro-Palestine uni protests to be debated in Swiss parliament
This content was published on
The Swiss People’s Party says it will launch two postulates calling for clarifications about the recent student protests and occupations.
This content was published on
A 36-year-old man from Ticino lost his life on Saturday in Val Malvaglia, in the north of canton Ticino, during a wingsuit jump from a plane.
Swiss Evangelical Reformed Church numbers dropping in French-speaking Switzerland
This content was published on
As in German-speaking Switzerland, the number of members of the Reformed Church in French-speaking Switzerland is also declining.
Gotthard traffic queue hits 20km during holiday weekend
This content was published on
The traffic jam at the Gotthard north portal reached a length of 20 kilometres on the motorway between canton Nidwalden and canton Uri.
Swiss Interior Minister visits Cannes Film Festival
This content was published on
Swiss Interior Minister left the Cannes Film Festival on Saturday after three days of intensive dialogue, meetings and film screenings.
Swiss theatre director breaks with tradition at Vienna’s Rathausplatz
This content was published on
With the proclamation of the "Free Republic of Vienna", the start of the festival on Friday evening was unusually political.
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.