ÁLEX SAAB, VENEZUELA’S MILLION-DOLLAR MONEY LAUNDERER

On 5th August, Insight Crime carried a profile of Alex Saab, recently designated by OFAC.  He has also been indicted on money laundering charges that accuse him of transferring some $350 million out of Venezuela and linked to a scheme included kickbacks to government officials in connection to a 2011 government contract to build low-income housing that was never actually constructed.  It says he is also implicated in a food aid fraud and is also involved in gold exports.

https://www.insightcrime.org/news/analysis/us-targets-alex-saab-colombia-laundered-millions-venezuela/

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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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