01-05-2026, 07:42 AM
Link
![[Image: kAxY7xA.jpeg]](https://i.imgur.com/kAxY7xA.jpeg)
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"Corruption and State Contracts: U.S. agencies have detailed how Venezuelan elites use shell companies and proxies to hide assets and move wealth abroad through complex transnational mechanisms. One major case involved $1.6 billion in corrupt contracts for food and medicine, with proceeds laundered through a web of accounts and businesses in the United States.
Oil-Related Bribery Schemes: Investigations have identified instances where over $100 million in funds from subsidiaries of the state oil company (PDVSA) were transferred to accounts and shell companies controlled by regime-linked individuals.
The documents also reveal the pivotal role played by banks in Europe and the United States in facilitating the flow of money from Venezuela, despite blatant red flags signalling financial improprieties.
Major global banks also played a part. JPMorgan Chase, based in New York, and Standard Chartered, headquartered in London, processed questionable transactions while serving as correspondent banks, an intermediary role in which multinational banks plug smaller lenders into the global financial system."
![[Image: qeq7OMX.jpeg]](https://i.imgur.com/qeq7OMX.jpeg)
Link
![[Image: kAxY7xA.jpeg]](https://i.imgur.com/kAxY7xA.jpeg)
Link
"Corruption and State Contracts: U.S. agencies have detailed how Venezuelan elites use shell companies and proxies to hide assets and move wealth abroad through complex transnational mechanisms. One major case involved $1.6 billion in corrupt contracts for food and medicine, with proceeds laundered through a web of accounts and businesses in the United States.
Oil-Related Bribery Schemes: Investigations have identified instances where over $100 million in funds from subsidiaries of the state oil company (PDVSA) were transferred to accounts and shell companies controlled by regime-linked individuals.
The documents also reveal the pivotal role played by banks in Europe and the United States in facilitating the flow of money from Venezuela, despite blatant red flags signalling financial improprieties.
Major global banks also played a part. JPMorgan Chase, based in New York, and Standard Chartered, headquartered in London, processed questionable transactions while serving as correspondent banks, an intermediary role in which multinational banks plug smaller lenders into the global financial system."
![[Image: qeq7OMX.jpeg]](https://i.imgur.com/qeq7OMX.jpeg)
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