Venezuela's Corruption Exposed

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Derwick's Alejandro Betancourt arrested in London by British police

2 hours ago By Anonymous

Sources in Spain reported yesterday that Alejandro Betancourt was arrested by British police in London and released on bail. Spain's Audiencia Nacional and Anticorruption Court requested the action for his involvement in money laundering (Operation Money Flight). 

Betancourt became known in Venezuela after the company he co-founded, Derwick Associates, bribed authorities to obtain a dozen contracts to provide power plants and solve electricity outages in the country. According to experts, Derwick Associates overcharged the State more than one billion U.S. Dollars. After Derwick, Betancourt went into different deals with Petroleos de Venezuela. One involved an illicit partnership with Gazprom executives to produce oil (Petrozamora). In two others, Betancourt was a key player in multibillion dollar money laundering schemes masked as loans to PDVSA. The U.S. Department of Justice charged Betancourt's partner and Derwick co-founder Francisco Convit for one of the schemes (Operation Money Flight), and all but named Betancourt as conspirator no. 2.

Since, Betancourt has been lobbying and fighting criminal investigations in Venezuela, Spain, Switzerland and the U.S.A. During Donald Trump's first presidency, Rudy Giuliani was retained by Betancourt to seek favour with DoJ, the NSC and Attorney General William Barr.

Beyond Venezuela, Betancourt has used an investment vehicle called O'Hara Financial to launder ill gotten proceeds through a number of ventures in Spain, the UK, Switzerland and beyond. 

Alejandro Betancourt

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