Money laundering from Venezuela

In Spain there has been or there are 13 cases related to corruption in Venezuela. The most recent case involved the former Spanish ambassador to Caracas, Raúl Morodo, who allegedly participated in laundering at least EUR 4,500,000 (USD 5,786,433) illicitly taken from PDVSA. According to the court, immediately after Morodo left the embassy, PDVSA signed fake legal consultancy contracts with Alejo Morodo, the diplomat’s son. The money was laundered later through a complex network of companies set up by Alejo Morodo and other individuals under investigation. Switzerland is among the destinations where Morodo, his family, and the Venezuelan officials involved allegedly laundered the funds.

There have been (or still are) 257 judicial cases related to this topic all over the world. The three champions in this field are:

USA.- 59 cases

Argentina.- 25 cases

Spain.-13 cases

The current case involving former Spanish president José Luis Rodríguez Zapatero, reminds of that case. There is a repeated modus operandi which involves certain countries such as Switzerland.

In fact, what triggered this renewed investigation on Plus Ultra was a request from courts in Switzerland and France which are investigating money laundering cases related to PDVSA.

Spanish prosecutors report that France’s Parquet National Financier (PNF)—France’s national financial prosecutor, specialized in complex economic/financial crime—sent a request for international legal assistance (alongside a similar request from the Geneva prosecutor’s office in Switzerland). Those requests asked Spain to authorize searches/raids connected to an alleged money-laundering network linked to Venezuelan funds and operating across France–Switzerland–Spain.

Plus Ultra is allegedly one the many companies involved n the laundering scheme. Air companies deal with expensive stuff which allows them to handle huge amounts of money in terms of loans and other financial assets. It is necessary in order to digest the enormous quantities which have to be laundered originating from PDVSA.

Regarding Rodríguez Zapatero and taking into account the information which has surfaced so far, it is very likely that he did nothing but a private consultancy or lobbying activity in favour of Plus Ultra. He seems to have forced, beyond limits, the seams of the Spanish government in order to get his goal achieved, that is, funds being delivered to Plus Ultra.

He used his influence to provide the company with the financial support it needed although the company was not eligible, according to rules in force, to receive the bailout. The company should have been dissolved.

However, Zapatero cannot be blamed for any of that. He did not sign any paper in any part of the process; he was not part of the structure which is built to grant those soft credits; Zapatero was not part of the staff of Plus Ultra.

He has allegedly been paid for his services (it remains to be proven) with money which might come from PDVSA (hard to prove). Criminal offense, if any, will be difficult to prove, given that there are different national jurisdictions involved and some of them are not likely to openly cooperate.

It is remarkable the destruction of phone terminals (old fashioned, with no internet connection) which has been unveiled by media and the secrecy regarding meetings between Zapatero and his alleged front man.

Focusing on the money laundered by the Venezuelan regime, the Plus Ultra case is one among many, is one company among hundreds.

In the meantime, pressure on Maduro’s regime keeps growing. If a change of regime is finally implemented, all these judicial cases are likely to receive files and documentation to substantiate them.

The following video explains a bit further the Spanish case, due to the high profile of the alleged individuals involved (in Spanish, click here).