Alex Saab Faces 20 Years in Miami Over Billion-Dollar Venezuela Food and Oil Fraud
Updated
Updated · Fox News · May 19
Alex Saab Faces 20 Years in Miami Over Billion-Dollar Venezuela Food and Oil Fraud
12 articles · Updated · Fox News · May 19
Alex Saab, 55, appeared in Miami federal court Monday after Venezuela deported him to face U.S. charges over a sweeping bribery and money-laundering case.
Prosecutors say Saab began the scheme around 2015 by bribing Venezuelan officials to win CLAP food-program contracts, then used shell companies, fake invoices and false shipping records to embezzle hundreds of millions of dollars.
Around 2019, investigators allege, Saab and associates tapped billions of dollars in state-owned Venezuelan oil, sold it under false pretenses and routed proceeds through U.S. bank accounts, giving American courts jurisdiction.
The Justice Department says the new case is separate from Saab's 2019 indictment and 2021 extradition from Cabo Verde, and not covered by the 2023 Biden pardon tied to a prisoner swap.
If convicted, Saab faces up to 20 years in prison, while prosecutors also seek forfeiture of assets allegedly tied to the corruption scheme.
Once a secret DEA informant, will Alex Saab now expose Maduro's inner circle to secure his own freedom?
What deal did Venezuela's new government make with the U.S. to hand over Maduro's top financier?