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Montevideo, July 22nd 2018 - 10:14 UTC

Maduro and cronies “grey listed” as suspects of money laundering and terrorism financing

Monday, April 2nd 2018 - 09:12 UTC
Full article 3 comments
Maduro and more than 50 Venezuelan nationals are considered “high risk” for laundering money and financing terrorism, according to Panama Maduro and more than 50 Venezuelan nationals are considered “high risk” for laundering money and financing terrorism, according to Panama

Venezuelan president Nicolas Maduro along with more than 50 Venezuelan nationals are considered “high risk” for laundering money and financing terrorism, according to an advisory issued by Panama's economy and finance ministry.

Venezuelan Attorney General Tarek William Saab and electoral board president Tibisay Lucena were also named in the advisory along with Socialist Party No. 2 Diosdado Cabello, the elder brother of late president Hugo Chavez, and 16 firms in Venezuela.

The economy and finance ministry's National Commission Against Money Laundering released the list last week.

Maduro's populist government has repeatedly vowed to combat corruption that has plagued Venezuela and its oil industry for decades, contributing to its devastating economic collapse. But critics say the administration, despite making graft-related arrests, is still crippled by financial malfeasance.

Millions of Venezuelans suffer from food and medicine shortages, and the currency has fallen 99.99% against the U.S. dollar on the black market since Maduro came to power in 2013.

Panama's advisory calls on financial and non-financial entities in the country to redouble efforts to prevent risk in any transaction involving the listed people and companies.

“It's recommended... that they adopt policies and procedures of ample due diligence,” says the document.

The United States has slammed Caracas with a wave of sanctions and other measures to pressure Maduro for change, and is considering adding broad oil sanctions that would target the linchpin of Venezuela's economy.

Top Comments

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  • gordo1

    Pot calling the kettle black? It seems to me!

    Apr 02nd, 2018 - 01:29 pm +1
  • :o))

    @gordo1

    TRUE!

    When “THEY” do it it is justifiable [even if not legal]. But when the “OTHERS” do it, they are still “Grey” Listed [NOT Blacklisted PLEASE NOTE]. So there still is room to escape from the blame of criticism. THAT's “Classic Politics” at play!

    Apr 02nd, 2018 - 01:46 pm 0
  • Capt Rockhopper

    There can be no justification what Chavez did and now Maduro is doing to his country and its people. With a bit of luck and if there is any justice in this world, Maduro will not end his days peacefully in his own bed.

    Apr 03rd, 2018 - 02:13 am 0
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