Graed García Bocaranda, the current Legal Consultant and Corporate Manager of International Legal Affairs at Pequiven, joined in 2017 as part of a power structure that allegedly used the state-owned company to siphon off resources through opaque contracts, as revealed by internal documents and consulted sources.
Her rise coincided with the presidency of Rubén Ávila Ávila, who appointed her without any prior experience in the field, marking the beginning of a management criticized for million-dollar losses.
The files indicate that García Bocaranda acted as a legal operator in collaboration with high-ranking officials, including Ávila and Luis Molina Duque, who became her key ally after Ávila’s departure in 2018. Together, they are said to have promoted emblematic agreements fraught with irregularities:
1. Valprotech: Pequiven advanced $17 million without the company fulfilling its commitments.
2. Magna Capital – Private Wealth: Disappearance of €60 million in bonds managed without authorization from the Ministry of Petroleum.
3. Global Shipping: Charter contract that emptied the company’s cost centers.
4. Monómeros Colombo Venezolano: Hiring the Novoa law firm (linked to Álvaro Uribe), now under scrutiny.
García Bocaranda, described in reports as a “fabricator by trade,” allegedly consolidated her influence through manipulation of superiors and retaliation against subordinates.
Her appointment as Legal Consultant in 2023, recommended by Molina (who became PDVSA’s vice president during Rafael Telechea’s tenure), escalated suspicions of a scheme to control strategic legal areas.
Despite the complaints to the prosecutor’s office, Pequiven has not made any statements. Lawmakers are demanding independent audits, stating that these cases reflect a “systematic infiltration” in state enterprises.