MIAMI— Colombian businessman and former Venezuelan minister Alex Saab, identified for years by U.S. authorities as a close associate of former Venezuelan President Nicolás Maduro, pleaded guilty Tuesday to one count of conspiracy to launder money in a Miami federal court.
As part of the agreement reached with the U.S. Attorney's Office, Saab agreed to forfeit $195 million considered illicit gains and cooperate with ongoing federal investigations.
According to court documents and the U.S. Department of Justice, the case is related to a bribery and fraud scheme linked to the Venezuelan CLAP program, created to provide food and medicine to vulnerable sectors of the population.
Prosecutors maintain that Saab and his associates used shell companies, falsified invoices, and shipping records to obtain contracts from the Venezuelan government and embezzle hundreds of millions of dollars. Saab acknowledged his participation in the scheme as part of his guilty plea.
The indictment also alleges that some of the illicitly obtained funds were transferred through companies and bank accounts in various countries, including the United States, to conceal their origin.
The charge of conspiracy to launder money carries a maximum sentence of 20 years in prison. However, prosecutors agreed to recommend a sentence at the lower end of the applicable guidelines and could request further reductions if they deem Saab's cooperation substantial. A sentencing date has not yet been set.
The agreement could have implications for other U.S. investigations involving officials and associates of the former Venezuelan government. According to EFE, the agreement stipulates that Saab will provide information to U.S. authorities about high-ranking Venezuelan officials, although the disclosed agreement does not explicitly identify Maduro.
Saab was previously arrested in Cape Verde in 2020 and extradited to the United States in 2021 to face another trial. In December 2023, then-President Joe Biden granted him clemency as part of a prisoner exchange with Venezuela. Later, Saab returned to Venezuela and held the position of Minister of Industry.
