{"id":26059,"date":"2022-07-26T14:52:32","date_gmt":"2022-07-26T14:52:32","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme"},"modified":"2022-07-26T15:08:51","modified_gmt":"2022-07-26T15:08:51","slug":"asset-managers-charged-in-venezuelan-oil-laundering-scheme","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme","title":{"rendered":"Asset managers charged in Venezuelan oil-laundering scheme"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>INCI SAYKI<\/p>\n

THE United States (US) department of justice has charged two financial asset managers with laundering money obtained illicitly from Petr\u00f3leos de Venezuela SA (PDVSA), a state-controlled Venezuelan oil and gas company, in what was a part of a US$1,2 billion global scheme.<\/p>\n

The partners in the alleged crime, Ralph Steinmann of Switzerland and Luis Fernando Vuteff of Argentina, are believed to have created a complex bribery scheme utilising the US financial system and various international bank accounts to launder more than US$200 million related to the scheme, bribing Venezuelan officials in the process.<\/p>\n

Corruption schemes, money laundering, politicisation and mismanagement have been endemic to the state-owned PDVSA for some years.<\/p>\n

A 2022 Suisse Secrets investigation by the Organised Crime and Corruption Reporting Project (OCCRP) found that oil executives siphoned at least US$11 billion from the company between 2004 and 2015 through a mix of bribery, fraud, and currency scams, and stashed their ill-gotten assets and wealth, worth at least US$273 million, in 25 Credit Suisse accounts.<\/p>\n

The Southern District of Florida last week charged both Steinmann and Vuteff for conspiring to commit money laundering.<\/p>\n

If found guilty, both will face a sentence of up to 20 years.<\/p>\n

According to court documents, the two asset managers began their conspiracy, which included other unnamed actors, around December 2014, and continued their scheme at least until August 2018.<\/p>\n

The duo also opened bank accounts on behalf of at least two Venezuelan public officials to receive their share of the scheme in bribes and created a corrupt foreign exchange scheme.<\/p>\n

Vuteff has been arrested and is pending extradition from Switzerland, while Steinmann remains a fugitive.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. INCI SAYKI THE United States (US) department of justice has charged two financial asset managers with laundering money obtained illicitly from Petr\u00f3leos de Venezuela SA (PDVSA), a state-controlled Venezuelan oil and gas company, in what was a part of a US$1,2 billion global scheme. The partners in the alleged crime, Ralph Steinmann […]<\/p>\n","protected":false},"author":84,"featured_media":26058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-26059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nAsset managers charged in Venezuelan oil-laundering scheme - Namibia<\/title>\n<meta name=\"description\" content=\"INCI SAYKI THE United States (US) department of justice has charged two financial asset managers with laundering money ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asset managers charged in Venezuelan oil-laundering scheme\" \/>\n<meta property=\"og:description\" content=\"INCI SAYKI THE United States (US) department of justice has charged two financial asset managers with laundering money ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-26T14:52:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-26T15:08:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/07\/postQueueImg_22-62e0036fbb422.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"406\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Asset managers charged in Venezuelan oil-laundering scheme\",\"datePublished\":\"2022-07-26T14:52:32+00:00\",\"dateModified\":\"2022-07-26T15:08:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme\"},\"wordCount\":286,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/07\/postQueueImg_22-62e0036fbb422.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/asset-managers-charged-in-venezuelan-oil-laundering-scheme\",\"name\":\"Asset managers charged in Venezuelan oil-laundering scheme - 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