Brothers Arrested in Venezuela for Alleged Treason and Corruption Linked to PDVSA

The arrest of the De Grazia brothers in Venezuela highlights the government's crackdown on corruption linked to state-owned enterprises, including PDVSA, the national oil company.

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Nimrah Khatoon
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Brothers Arrested in Venezuela for Alleged Treason and Corruption Linked to PDVSA

Brothers Arrested in Venezuela for Alleged Treason and Corruption Linked to PDVSA

The Public Ministry in Venezuela has announced the arrest of brothers Daniel José, Levin Salvatore, and Carmelo De Grazia Suárez, the main shareholders of the financial entity Bancamiga. The brothers were apprehended by the Search and Capture Division of the Cicpc on charges of treason and their alleged involvement in five corruption schemes linked to PDVSA, the Venezuelan Corporation of Guyana, Cartones de Venezuela, the Judiciary, and Mayor's Offices.

In addition to the treason charge, the brothers face accusations of profit or diversion of money, securities or public property, taking advantage of relationships or influences, money laundering, and association to commit a crime. Preliminary investigations suggest that Bancamiga held the currencies of businessmen who sought to do business with PDVSA during Tarek El Aissami's tenure as head of the state oil company.

Why this matters: The arrest of the De Grazia Suárez brothers highlights the ongoing efforts by Venezuelan authorities to combat corruption and illicit financial activities linked to state-owned enterprises. The case underscores the complex web of alleged corruption that has plagued Venezuela's oil industry and its impact on the country's economy.

According to the Public Ministry, the investigation into the brothers' alleged involvement in the corruption schemes is still ongoing. The case has attracted significant attention due to the high-profile nature of the individuals involved and their connections to Venezuela's financial sector and the state-owned oil company, PDVSA. More information on the developing story can be found on Last News.

Key Takeaways

  • Venezuelan authorities arrested 3 brothers, owners of Bancamiga, on treason charges.
  • The brothers are accused of corruption schemes linked to PDVSA, other state entities.
  • Charges include profit diversion, money laundering, and association to commit crime.
  • Bancamiga allegedly held currencies of businessmen seeking deals with PDVSA.
  • The case highlights efforts to combat corruption in Venezuela's state-owned enterprises.