Alex Saab, former Venezuelan government minister and alleged frontman for Nicolás Maduro, pleaded guilty this Tuesday to conspiracy to commit money laundering and illicit financial transactions during a hearing before a federal court in Miami.
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The 54-year-old businessman changed his previous “not guilty” plea and agreed to hand over US$195 million that he allegedly obtained through illicit operations linked to a corruption scheme.
Maduro’s trusted man thus changed his plea from July 24, in exchange for cooperating with U.S. authorities in the case against the president on charges related to drug trafficking, according to reports from the news agency Bloomberg.
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Saab faces a maximum sentence of 20 years in prison for money laundering. However, the prosecution could recommend a lesser sentence if his cooperation proves valuable for investigations against other defendants.
The case also includes charges of wire fraud, bribery, and embezzlement of public funds. Saab was arrested in Cape Verde in 2020, extradited to the United States in 2021, and later released following an agreement between Washington and Caracas. Last May, he was again transferred to the United States to face the charges.
