NAMAN WAKIL, a Syrian-born Venezuelan national who is a Permanent Resident of the United States, has been charged in a major money laundering case, involving grossly inflated contracts to deliver food to PDVSA and CASA,* two Venezuelan government agencies, whose employees are deeply involved in corruption.
The charges:
1. Foreign Corrupt Practices Act (FCPA) Conspiracy.
2. Conspiracy to Commit Money Laundering.
3. International Promotional Money Laundering.
4. Engaging in Transactions involving Criminally-Derived Property.
Wakil, who faces a potential 80 years in prison, and who has been described in media as a kleptocrat, paid bribes of $5.9m to the brother-in-law of Venzuelan Minister of Food General Carlos Osorio, and others involved n PDVSA joint ventures. He allegedly grossed $30m, according to a press release from the US Department of Justice.
He reportedly owns ten properties in Miami-Dade County, a yacht and an airplane . Wakil, along with a number of the individuals involved in the scheme, banked at COMPAGNIE BANCAIRE HELVETIQUE SA (CBH). He is in Federal custody; a hearing on Pre-Trial Detention has been scheduled.
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*Corporacion de Abastecimiento y Services Agricola (the state-controlled food agency).
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