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Alejandro Betancourt: the Venezuelan businessman involved in a money laundering case
Although Alejandro Betancourt, founder of the energy company Derwick, is not named in the case documents, several sources familiar with the investigation confirmed to the Miami Herald that he appears among the dozen conspirators listed in the federal indictment in South Florida, but under a protected identity. The stepchildren of Nicolás Maduro are also under investigation.
By El Pitazo Editorial
Alejandro Betancourt
Betancourt could face formal charges, judicial sources told El Nuevo Herald. Photo courtesy of America Retail.
Alejandro Betancourt, the founder of Derwick, is one of those implicated in the federal case in Miami that is also investigating the stepchildren of the ruling Nicolás Maduro, says El Nuevo Herald.
According to the American newspaper, Betancourt received millions of dollars from a corruption scheme aimed at extracting $1.2 billion from Petróleos de Venezuela (Pdvsa).
Even though he is not identified by name in the case documents, several sources familiar with the investigation confirmed to the Miami Herald that he is “Conspirator 2” listed among the dozen conspirators, but with a protected identity, appearing in the federal court indictment in South Florida.
El Nuevo Herald reported on Saturday, November 2, adding that Betancourt, 39, along with some other unidentified conspirators, could potentially face formal charges.
The following are some key points from this case, according to the article published by El Nuevo Herald.
“So far, nine people have been formally charged, with two of them pleading guilty and one awaiting trial. The other six, including Betancourt’s cousin, Francisco Convit Guruceaga, are considered fugitives by U.S. authorities.”
“According to court documents, Convit and Conspirator 2 received $272.5 million from the corruption scheme, distributing part of that total to what later became the star witness in the federal case.”
“Lacking significant experience in the industry, Betancourt founded Derwick Associates a decade ago and secured billions of dollars in government contracts for building new power plants. Derwick has been accused on multiple occasions of receiving inflated payments.”
“With these funds, Betancourt not only expanded his operations, reaching the United States, but also purchased a penthouse apartment in Tower Olympic, Manhattan, as well as a castle and other luxury properties in Spain, according to court documents.”
“The money laundering case in Miami alleges that ‘Conspirator 2’ was part of the network of Chavista businessmen known as ‘Boliburgueses,’ and government officials who received hundreds of millions from Pdvsa as payment for a loan they provided to the state company in 2014.”
“The formal indictment claims that the network used a shell company to lend Pdvsa the equivalent of $42 million in bolivars and was then paid back in euros within months, utilizing an outrageously favorable official exchange rate available only to the regime’s friends.”
“Among those implicated in the case is also Orlando Alvarado, who at one point served as Derwick’s finance vice president, and is identified as ‘Conspirator 4.'”
“The close relationship between Convit, Betancourt, and Alvarado raises questions about how much Betancourt knew about the corruption scheme and the money laundering efforts.”
“The indictment indicates that Conspirator 2, identified by sources as Betancourt, received money but does not provide evidence establishing that he was aware of the illicit activities behind those funds.”
“Court documents claim that Pdvsa paid the debt funds to the shell company Rantor Capital, transferring $600 million to Portmann Capital Management in Malta.”
“The payment was subsequently transferred to another shell company, Eaton Global Services Limited, created in Hong Kong and controlled by conspiracy leaders to launder the funds, U.S. prosecutors claim.”
“The $600 million was later divided among other ‘conspirators,’ including Pdvsa officials and the three stepchildren of Maduro, according to emails obtained by agents of the Department of Homeland Security and sources familiar with the case.”
El Nuevo Herald notes that the funds were distributed between 2014 and 2015 as follows, according to the indictment: $272.5 million went to businessman Raúl Gorrín, owner of the television channel Globovisión. “Although he has not been formally charged in the case, he is considered one of the main suspects. Of the total, Gorrín kept $72.5 million, which he used to pay for flights, a yacht, and brokerage services in Miami. The remaining $200 million was transferred by the businessman to Portmann Capital Management for the benefit of Maduro’s three stepchildren,” the note adds.
Tags: Derwick Associates Corp, money laundering, pdvsa
posted by frentelibertario @ 8:09 a.m.
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