Message to INFODIO readers: investigative journalism, which is what this site does, takes lots of time. Visiting media looking for a quick run down on Venezuela's gargantuan corruption, have the decency to at least cite the source when plagiarising this site's content without attribution (exhibit Reuters here and here, exhibit Bloomberg here, exhibit OCCRP here). To all readers, do the right thing, the honest thing: support independent investigative journalism, help us expose rampant corruption. Note added 28/06/2021: impostors are using this site's former editor's full name, and a fake email address (alek.boyd.arregui@gmail.com) to send copyright infringement claims / take down requests to web hosting companies (exhibit Hostgator). The attempt is yet another effort paid by corrupt thugs to erase information about their criminal activities. Infodio.com has no issues with other websites / journalists using / posting information published here, so long as the source is properly cited.

November 2018

Source: Pedro Binaggia helped launder 1.5bn through EFG

A source has informed this site that Pedro Binaggia, banker to fugitive Francisco Convit in a $1.2 billion money laundering scheme centered at PDVSA, was instrumental -in bringing to Switzerland's bank EFG International- as much as $1.5 billion as part of a previous money laundering exercise, involving PDVSA, Rafael Ramirez, Juan Andres Wallis, Danilo Diazgranados, Nervis Villa

Miami court recommends dismissal of PDVSA Litigation Trust claim

Yesterday afternoon documents were filed in the docket of PDVSA US Litigation Trust v Lukoil, Helsinge, Glencore, Trafigura et al. Judge Alicia M. Otazo-Reyes concluded that David Boies / PDVSA Litigation Trust had no standing, that Boies "failed to support that it holds a valid assignment from PDVSA", and that Litigation Trust's formation was invalid as per current Venezuelan law. Pretty damning stuff (see pdf below). That was to be expected, of course.

Matthias Krull's criminal web includes Miguel Angel Capriles Lopez, Helsinge Alek Boyd Mon, 11/05/2018 - 15:12

Bloomberg reported in late October that a sobbing Matthias Krull, the banker at the core of PDVSA's $1.2 billion money laundering scandal with Francisco Convit, allegedly told the court "I apologize for making a bad decision.

PDVSA 1.2bn Money Laundering Scheme: Abraham Ortega pleads guilty, more to come...

The U.S. Deparment of Justice announced yesterday that Abraham Ortega, a former PDVSA finance exec, pleaded guilty: "Former Executive Director at Venezuelan State-Owned Oil Company, Petroleos De Venezuela, S.A., Pleads Guilty to Role in Billion-Dollar Money Laundering Conspiracy" A Factual Profer of case (1:18-cr-20685-KMW) was released with the announcement (see below).