The Globe & Mail in Canada on 24th September reported that the US Treasury has distributed a list of suspected shell companies that they believe senior Venezuelan officials have used across the globe to siphon off millions of dollars from food import contracts amid widespread starvation in the oil-rich nation.  It is said that Mexico, Panama and Colombia traced transactions by companies believed to be controlled by a government-connected businessman.  As long ago as 2016, a story published by revealed how senior Venezuelan officials and members of the military were enriching themselves by diverting money from food contracts.  The article claims that among those under scrutiny by the coalition of countries is an obscure Colombian businessman called Alex Saab who reportedly struck gold selling to Maduro’s government.  Investigators say Saab entered the food business through a Hong Kong-based company, Group Grand Ltd.  Saab’s Miami-based lawyer has rejected allegations of any wrongdoing.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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