Journalistic investigations link banker Tino Sangiorgio to a money laundering scheme involving Swiss financial institutions for Venezuelan “boligarcas,” or individuals who have profited from the Chavista regime in Venezuela.
The banker is associated with a network tied to Chavista minister Tareck El Aissami, who U.S. authorities accuse of links to drug trafficking organizations and Islamic extremism, as reported by abcnoticias.net.
However, information released by Alek Boyd, an expert documenting corruption in Venezuela on his website infodio.com, revealed that in February 2010, Krull acted alongside Miguel Ángel Capriles López, also known as Michu, a businessman accused of amassing a fortune worth hundreds of millions of dollars in Venezuela due to the Chavista regime.
Krull established an agreement whereby Credit Suisse, represented in the scheme by Tino Sangiorgio, would transfer settlement funds to “victims” of Michu’s activities, according to Boyd. “No one knows why Credit Suisse – bankers to Michu – would pass the opportunity of incorporating new millionaire clients to Julius Baer of Krull, although it is just another indication of the rampant corruption within Swiss banks,” according to infodio.