Alleged financier to embattled Venezuelan President Nicolas Maduro, Alex Saab, has been charged in an indictment with laundering the proceeds of violations of the US’ Foreign Corrupt Practices Act (FCPA) in connection with a scheme to pay bribes to take advantage of Venezuela’s government-controlled exchange rate.

Last year the Colombian businessman was arrested whilst the private jet he was flying in was refuelling in the African island republic of Cape Verde where he has been held until his extradition to the US earlier this month (Trade-based Financial Crime, 24 June 2020).

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