22 september 2020
01:01
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The FinCEN Files reveal how billions of dollars of public money intended for the needy people has been channeled out of Venezuela. The Belgian court has also tracked down money from Venezuela that was laundered through our country.
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A serious humanitarian crisis is raging in Venezuela: inflation is soaring and the oil industry, which once fueled the Venezuelan economy, is in the rag basket. One in three Venezuelans is struggling with food shortages. The FinCEN Files show that at least seven wealthy businessmen, ‘boligarchs’ with close ties to Hugo Chávez’s previous government and the current one under his successor Nicolás Maduro, have funneled large sums of public money out of Venezuela. That happened even when the Venezuelan economy was already collapsing. The money was intended for food, housing and other projects.
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During our investigation into the FinCEN Files, we learned that the Belgian court is also scrutinizing suspicious money flows from Venezuela. The spokesperson for the federal prosecutor’s office, Eric Van Duyse, only wants to confirm that a criminal investigation is ongoing in our country, but does not give further details.
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The Belgian money laundering investigation is very delicate because it can lead to the entourage of the Venezuelan President Nicolás Maduro.
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According to our information, the Belgian money laundering investigation was opened after a report to the anti-money laundering unit. The investigation reportedly focuses on suspicious transactions that passed through Belgium. They are related to public funds coming from Venezuela to be used for a food program for the poor. An Asian PO box company, among others, is said to have played a role in diverting government money. It may even lead to the entourage of President Nicolás Maduro.
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The FinCEN Files contain more than $ 4.8 billion in suspicious cash flows between 2009 and 2017 related to Venezuela. Nearly 70 percent was public money. Only three of the 26 individuals, companies and institutions involved in the money laundering practices have already been penalized.
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The leaked documents reveal that a property developer with close ties to the Venezuelan government has diverted at least $ 116 million intended to build social housing to offshore companies, including Panama, and to bank accounts in the name of his relatives. The promoter would have overcharged for the works, while the residents of the social housing are now struggling with inadequate water pipes and other defects.
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The leaked documents point to the critical role that banks in Europe and the US played in getting the money flowing out of Venezuela. Nevertheless, they had to ring several alarm bells.
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