The U.S. Department of Justice announced yesterday that Abraham Ortega, former financial executive of PDVSA, has pleaded guilty: “The former CEO of the Venezuelan state oil company, Petróleos de Venezuela, S.A., pleads guilty to participating in a multi-billion dollar money laundering conspiracy.” Along with the announcement, a factual proposal was published (1:18-cr-20685-KMW) (see below). There is much speculation regarding other parties involved in the case. This site can reveal that the Oberto brothers, Nervis Villalobos, Juan Andres Wallis, Charles Henry de Beaumont, Banca Privada D’Andorra, Banco de Madrid, Compagnie Bancaire Helvetique, EFG Bank, Boris Ivanov, Christophe Gerard, Gazprombank, Eulogio Del Pino, Renny Bolívar, Baldo Sanso, and the former CEO of PDVSA, Rafael Ramírez, are also involved.
The Factual Profer states that a bribery payment scheme was established between Ortega and the conspirators to give “priority status” to “Company A, a European firm… a minority shareholder in Joint Venture A,” and to “Company B, a Russian financial institution… a minority shareholder in Joint Venture B.”
PDVSA is the majority shareholder in joint ventures with the following European companies: Repsol, ENI, Total, Statoil. From PDVSA’s website:
PDVSA has formed two joint oil companies with Repsol: Petroquiriquire, S.A., and Petrocarabobo, S.A. Repsol is also developing an offshore gas license in the Cardón IV block in Falcón state, shared with the Italian company ENI, among other projects.
PDVSA has established three joint companies with ENI: Petrojunín, S.A., Petrobicentenario, S.A., and Petrolera Guiria, S.A.
Alongside the state oil companies Total and Statoil, PDVSA formed the joint venture Petrocedeño, S.A.
Alberto Cortina, brother of former Repsol CEO (Alfonso) and the trusted aide of the latter (José Ramón Blanco Balín, who also was once at Repsol), are not only partners of Alejandro Betancourt from Derwick but have also recently obtained, from Nicolás Maduro, an oil concession under a joint venture called Petrosur. Betancourt and Cortina are also partners in a Luxembourg vehicle called BDK Financial Group, while Spanish journalists refer to Blanco Balin as Betancourt’s public relations man. The Cortina family also invested with Betancourt and co-conspirator Orlando Alvarado (grouped under the shell of O’Hara) in Pacific Energy’s Colombian operations. Despite evidence pointing to Repsol, Betancourt claims to have dirty information about Italy’s ENI.
As revealed here in 2016, Company B is Gazprombank, a minority shareholder alongside Derwick Oil and Gas (Francisco Convit, Alejandro Betancourt, Pedro Trebbau) in Petrozamora. Gazprombank’s agreements with Derwick and PDVSA led to sanctions against Gazprombank earlier this year in Switzerland. Gazprombank and its CEO are sanctioned parties designated by OFAC. Gazprombank paid a “$904 million bonus” to PDVSA.
Internal emails from Derwick Associates show a flow of communications with Ivanov from Gazprombank in the context of negotiations with Rafael Ramírez, Eulogio del Pino, Víctor Aular, Álvaro Ledo, Abraham Ortega, and Renny Bolívar from PDVSA.
The Factual Profer also reveals that Ortega accepted a $10 million bribe to establish a “Loan Scheme with companies C and D” exceeding 17 billion bolivars ($4+ billion). As disclosed here in 2015, Rafael Ramírez, Víctor Aular, Eulogio del Pino, Asdrúbal Chávez, Nervis Villalobos, the Oberto Anselmi brothers (Luis and Ignacio), and Juan Andrés Wallis were involved. The Ponzi banker Víctor Vargas was also involved. The companies entangled were Cartera de Activos Cho La Pass 190654 C.A. (UBO of Atlantic / controlled by Wallis), Violet Advisors, and Welka Holding (both controlled by Luis Oberto). Banca Privada D’Andorra was the primary bank used to launder profits and redirect bribe payments.