Vuteff was arrested and is pending extradition from Switzerland to the US, while Steinmann remains a fugitive from US justice.
Two financial asset managers were accused in a court in South Florida (USA) of an alleged crime of “money laundering” worth 1,200 million, funds that were “corruptly obtained” from the state oil company Petróleos de Venezuela ( PDVSA), the Department of Justice reported on Tuesday.
Ralph Steinmann, 48, of Switzerland, and Luis Fernando Vuteff, 51, of Argentina, are each charged with “one count of conspiracy to commit money laundering” in an international scheme to launder illicitly obtained funds.
The court documents, which include a criminal complaint against Steinmann and Vuteff, allege that beginning in or around December 2014 and continuing through at least August 2018, the two “conspired with others to launder proceeds through a scheme.” of illegal bribery using the US financial system”, as well as several bank accounts located abroad.
The conspirators laundered illicit proceeds in connection with a corrupt foreign currency exchange scheme that involved the bribery of Venezuelan officials, the US Justice Department said in a statement.
Steinmann, Vuteff and others allegedly agreed to create the “sophisticated financial mechanisms” and relationships necessary to launder more than $200 million related to the scheme, as well as open accounts for or on behalf of at least two Venezuelan public officials to receive their bribe payments.
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If convicted, the defendants face a sentence of up to 20 years in prison for “conspiracy to commit money laundering.”
Vuteff was arrested and is awaiting extradition from Switzerland to the US, while Steinmann remains a fugitive from US justice.
With information from Eph
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