The Venezuelan billionaire the US investigated for money laundering now has a Pentagon oil deal
U.S. prosecutors investigated Alejandro Betancourt, a Venezuelan billionaire, for alleged money laundering involving embezzled funds from PDVSA. Betancourt assisted U.S. authorities prior to the capture of ex-President Nicolas Maduro, leading to the Pentagon's oil deal with Betancourt's company, North American Blue Energy Partners (NABEP).
The U.S. now has a 35% stake in NABEP, with the State Department's ability to purchase 20% of oil at cost, and preference for the remaining 80%. Betancourt's role in U.S. policy in Venezuela made him invaluable for boosting oil output under the arrangement. Betancourt has also been involved in numerous oil deals and partnerships since Maduro's removal, providing assistance to Washington and aiding in communication between the two nations.
Despite ongoing investigations in the U.S., Spain, and Switzerland, Betancourt has never been indicted and is currently free of legal problems in the United States.
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