Message to INFODIO readers: investigative journalism, which is what this site does, takes lots of time. Visiting media looking for a quick run down on Venezuela's gargantuan corruption, have the decency to at least cite the source when plagiarising this site's content without attribution (exhibit Reuters here and here, exhibit Bloomberg here, exhibit OCCRP here). To all readers, do the right thing, the honest thing: support independent investigative journalism, help us expose rampant corruption. Note added 28/06/2021: impostors are using INFODIO's former editor's full name, and a fake email address (alek.boyd.arregui at to send copyright infringement claims / take down requests to web hosting companies (exhibit Hostgator). The attempt is yet another effort paid by corrupt thugs to erase information about their criminal activities. has no issues with other websites / journalists using / posting information published here, so long as the source is properly cited.

Venezuela's judiciary comes for Victor Vargas & co (five years too late)

In October 2018 this site posited that Victor Vargas' Banco Occidental de Descuento was a Ponzi. Shortly after, Curaçao’s Central Bank acted decisively against Banco del Orinoco, a fully-owned subsidiary controlled by Vargas. Similar measures against Vargas' banking operations followed in Panama, Venezuela and Antigua. However it looks like Victor Vargas managed to get some kind of deferred prosecution deal, and then breached it, for on September 4th (2023) SUDEBAN (Venezuela's Banking watchdog) sent communication to all banks -on instructions from prosecutors in Caracas- requesting information related to accounts belonging to Vargas, Francisco D'Agostino, Luis Alfonso de Borbon, and other management and staff.

Estimates place around one billion USD amount of clients' funds misappropriated by Vargas & co.

Add to Breaking news