Venezuelan billionaire investigated by US now lands Pentagon oil deal
MIAMI: The billionaire who helped broker the Trump administration's sweeping long-term oil deal with Venezuela was until recently a target of US money-laundering investigations involving funds embezzled from the state-owned oil company PDVSA.
According to US prosecutors, Alejandro Betancourt was under investigation for alleged money laundering involving funds embezzled from Venezuela's state-owned oil company PDVSA. However, Betancourt reportedly assisted US authorities ahead of the capture of Maduro, transferring investigative information that helped enforce a US naval blockade against sanctioned oil tankers operating in Venezuela.
This resulted in the seizure or interdiction of more than a dozen vessels. Betancourt also facilitated negotiations with Venezuelan officials, including Delcy Rodriguez, after Maduro's removal. The Pentagon's Office of Strategic Capital took a 35% stake in Betancourt's company, North American Blue Energy Partners (NABEP), and the State Department secured the right to buy 20% of NABEP's oil at cost, with preferential access to the remaining 80% of output.
This marks a significant change in fortune for Betancourt, who was once a target of US investigations. Betancourt has been investigated in the US, Spain, and Switzerland but has never been indicted.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- The Venezuelan billionaire the US investigated for money laundering now has a Pentagon oil deal nst.com.my
- The Venezuelan billionaire the US investigated for money laundering now has a Pentagon oil deal hindustantimes.com
- Venezuelan billionaire the US probed for money laundering now has a Pentagon oil deal nation.africa
