Venezuelan media mogul Raul Gorrin Belisario faces up to 20 years in prison for his alleged role in a massive $1.2 billion money laundering scheme involving Venezuela’s state-owned oil company.
At a Glance
- Raul Gorrin Belisario, owner of Venezuela’s pro-government Globovision news network, charged with laundering hundreds of millions of dollars
- Accused of participating in a $1.2 billion scheme to launder funds from Venezuela’s state-owned energy company, PDVSA
- Allegedly bribed Venezuelan officials with luxury items for favorable currency exchange rates
- Faces up to 20 years in prison if arrested and convicted
- Remains at large, last seen in Caracas, Venezuela
The Charges: A Web of Corruption and Bribery
The United States Department of Justice has leveled serious charges against Venezuelan media tycoon Raul Gorrin Belisario, accusing him of orchestrating a complex money laundering operation involving Venezuela’s state-owned oil company, Petroleos de Venezuela S.A. (PDVSA). Gorrin, who owns the pro-government Globovision news network and has close ties to President Nicolas Maduro’s administration, is alleged to have laundered hundreds of millions of dollars through the U.S. financial system.
According to the indictment, Gorrin participated in a scheme to launder $1.2 billion from PDVSA between 2014 and 2018. The operation allegedly involved paying bribes to Venezuelan officials to secure foreign currency exchange loan contracts with PDVSA. Gorrin is accused of using the U.S. financial system and international bank accounts to facilitate these illicit transactions, purchasing real estate, yachts, and luxury items in South Florida through shell companies and offshore accounts.
#MostWantedWednesday Have you seen this #mostwanted #fugitive? Raul Gorrin Belisario, a Venezuelan citizen, is wanted for violation of the Foreign Corrupt Practices Act & 9 counts of money laundering. Learn more: https://t.co/uQgGCcXNC8 pic.twitter.com/NPCstw0zxA
— ICE (@ICEgov) January 6, 2021
The ‘Boliburgueses’ and Venezuela’s Corruption Crisis
Gorrin’s case sheds light on a broader issue of corruption within Venezuela’s elite. He is part of a group known as the “boliburgueses,” individuals who amassed significant wealth during Hugo Chavez’s presidency. This group has increasingly come under scrutiny from U.S. prosecutors as part of a wider effort to combat corruption in Venezuela.
“Gorrin’s alleged conduct enriched corrupt government officials and exploited the US financial system to facilitate these crimes,” Principal Deputy Assistant Attorney General Nicole M Argentieri said.
The scheme Gorrin is accused of participating in involved fake loan agreements with PDVSA, allegedly embezzling between $600 million and $1.2 billion during a period when Venezuela’s oil production was in decline. This operation, known as “Operation Money Flight,” has already led to charges and guilty pleas from numerous PDVSA officials and European money managers.
U.S. Legal Action and International Implications
The charges against Gorrin are part of an intensified U.S. strategy to address and suppress governmental corruption in Venezuela. The U.S. government has targeted high-level Venezuelan officials, imposing sanctions on those aligned with Maduro’s administration for alleged election fraud and other offenses.
A federal grand jury in Miami indicted Gorrin for his role in the money laundering scheme. The crimes fall under U.S. jurisdiction due to planning and financial transactions occurring in Florida and New York. If arrested and convicted, Gorrin faces up to 20 years in prison. However, he remains at large and was last seen in Caracas, Venezuela.