Venezuela's Corruption Exposed

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The loot of PDVSA: missing document on Rafael Ramirez's $4.5BN money laundering scheme appears

4 years ago By Alek Boyd

This site has been under a relentless DDoS attack since 17 July (peaking at over 25 million requests per second), apologies to our readers. While measures to mitigate it are taking place (not thanks to AWS, source of attacks), we have kept ourselves busy investigating corruption. In earlier posts, we exposed how Luis and Ignacio  Oberto, with the help of Alejandro Betancourt and Nervis Villalobos, set up a $4.5 billion money laundering scheme at PDVSA. Rafael Ramirez was central to it, and his approval was a must. We had the letter showing this, but we didn't have the one addressed to him (by Obertos' proxy Juan Andres Wallis Brandt), dated just six days prior, asking Ramirez to consider their "working capital financing proposal". It didn't take long to Ramirez to approve. Many money laundering thugs around the world have had their comeuppance on much less than this, yet Ramirez, the Obertos, Villalobos, Betancourt, and Wallis Brandt keep living large in different jurisdictions, including the U.S. where this case is meant to be under criminal investigation, totally unencumbered by law enforcement.

It took Rafael Ramirez just six days to approve $4.5 billion money laundering scheme.

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