Colombian businessman Alex Saab, a close associate of former Venezuelan President Nicolas Maduro, pleaded guilty Tuesday to a money laundering charge in a US federal court in Miami under an agreement with American prosecutors.
As part of the plea deal, Saab agreed to cooperate with US investigations and surrender $195 million in proceeds identified as illicit.
The 54-year-old admitted to one money laundering count connected to a scheme involving Venezuelan government contracts for food imports.
US prosecutors alleged that Saab used shell companies and falsified shipping documents to divert money from government contracts. The investigation also involved alleged bribes paid to Venezuelan officials.
The case is linked to Venezuela’s CLAP food programme, which was established to provide subsidized food to millions of people during the country’s economic crisis.
According to prosecutors, Saab and his associates moved and concealed money through shell companies and bank accounts in the United States.
Saab had previously denied the allegations and pleaded not guilty. His decision to change his plea came after a Miami federal judge scheduled a hearing and canceled the trial that had been planned.
The guilty plea adds a new development to the lengthy US investigation into Saab, whom American authorities have identified as an important financial intermediary connected to Maduro’s government.
US authorities initially charged Saab in 2019. He was arrested in Cape Verde in 2020 while traveling to Iran and was extradited to the United States in 2021.
In 2023, former US President Joe Biden pardoned Saab as part of a prisoner exchange that resulted in the release of several Americans held in Venezuela.
Saab later returned to US custody after Venezuelan authorities deported him in May amid renewed pressure from Washington.
His agreement to cooperate with investigators could make him a potential witness in other cases involving Venezuelan officials, including proceedings against Maduro, who faces drug trafficking charges in the United States.
The plea comes as Washington continues to adjust its relationship with Venezuela following Maduro’s removal from power earlier this year.
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