Venezuelan billionaire the US probed for money laundering now has a Pentagon oil deal
Official said most of Betancourt's legal challenges are old - and that he is the best partner.
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.
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