Alex Saab, ally of Venezuela's Maduro, pleads guilty in US corruption case
Colombian businessman Alex Saab pleaded guilty in a Miami federal court to conspiracy to launder monetary instruments. A close ally of Venezuelan President Nicolas Maduro, Saab admitted to skimming hundreds of millions from the CLAP food welfare program using false invoices and fake companies. As part of his plea agreement, Saab will cooperate with federal investigations and has forfeited $195 million in illicit proceeds. He now faces a maximum sentence of 20 years in prison.
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- ✓ Alex Saab pleaded guilty to conspiracy to launder money in a Miami federal court.
- ✓ Saab is a Colombian businessman and ally of Venezuela's Nicolas Maduro.
- ✓ Saab agreed to forfeit $195 million in illicit proceeds.
- ✓ Saab agreed to cooperate with federal investigations.
What changed
Alex Saab changed his plea to guilty and agreed to cooperate with US federal investigators.
Live updates
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Maduro Ally Alex Saab Pleads Guilty to Money Laundering in Miami
Colombian businessman Alex Saab pleaded guilty in a Miami federal court to conspiracy to launder monetary instruments. A close ally of Venezuelan President Nicolas Maduro, Saab admitted to skimming hundreds of millions from the CLAP food welfare program using false invoices and fake companies. As part of his plea agreement, Saab will cooperate with federal investigations and has forfeited $195 million in illicit proceeds. He now faces a maximum sentence of 20 years in prison.
Why it matters
The US government identified Saab as a primary organizer of a corruption scheme targeting Venezuelan food aid. This case involves the Local Committee for Supply and Production, a welfare program intended to provide food to the Venezuelan population.
What is confirmed
- Alex Saab pleaded guilty to conspiracy to launder money in a Miami federal court.
- Saab is a Colombian businessman and ally of Venezuela's Nicolas Maduro.
- Saab agreed to forfeit $195 million in illicit proceeds.
- Saab agreed to cooperate with federal investigations.
- The corruption scheme targeted the CLAP food welfare program.
Still unconfirmed
- Saab faces a maximum sentence of 20 years.
- Saab skimmed hundreds of millions from the CLAP program using shell firms in the US.
What to watch next
- Sentencing hearing for Alex Saab
- Details of the cooperation agreement with federal investigators
confidence 95%Sources used for this update (15)
- AP News — Maduro ally Alex Saab expected to plead guilty in federal money laundering case
- Reuters — Alex Saab, ally of Venezuela's Maduro, to change plea in US corruption case
- CBS News — Nicolás Maduro ally Alex Saab pleads guilty in federal money laundering case
- Bloomberg.com — Maduro Fixer Saab Pleads Guilty in US Money-Laundering Case
- The New York Times — Alex Saab, Venezuelan Tied to Maduro, Pleads Guilty in Florida
- WRAL — Maduro ally Alex Saab pleads guilty in a $195M money laundering case, agrees to cooperate
- Miami Herald — Maduro’s financial frontman pleads guilty in Miami court and agrees to cooperate
- MLex — Saab a 'primary organizer' of Venezuelan food-aid corruption scheme, US says
- WPLG Local 10 — Maduro ally Alex Saab pleads guilty in federal money laundering case
- Axios — Maduro ally pleads guilty to money laundering in U.S. corruption case
- bbc.com — Maduro ally Alex Saab pleads guilty to money laundering in US court
- hoodline.com — Maduro's Money Man Alex Saab Pleads Guilty in Miami, Forfeits $195M
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