Alex Saab, once charged by US with money laundering, named Venezuela's industry minister

Venezuelan strongman Nicolas Maduro on Friday appointed controversial businessman Alex Saab as the country’s minister of industry and production, despite the charges that had been brought against him in the United States for allegedly running a massive corruption and money-laundering scheme.

Saab, who was released from a Florida prison after he was pardoned last year by President Joe Biden, was accused by U.S. authorities of leading a gigantic corruption operation that extracted hundreds of millions of dollars from Venezuelan state coffers.

Despite the seriousness of the U.S. charges, Maduro launched an intense international campaign in favor of the Colombian businessman, arguing not only that he was innocent but that he was a diplomatic official representing the Venezuelan government when he was arrested at the request of the U.S. justice system in Cape Verde in June 2020.

On Friday, Maduro reiterated his confidence in Saab.

“I appointed Alex Saab as the new Minister of People’s Power for Industry and National Production. I am sure that with his great managerial capacity and commitment to our people he will promote the development of the entire industrial system of Venezuela amid the process of building the new economic model,” Maduro announced through his Instagram account.

Saab will be in charge of executing policies for the development of the country’s industrial sector as well as of overseeing the operations of state-owned companies.

Saab was extradited in October 2021 from Cape Verde to Miami, where he was accused of operating, along with partner Álvaro Pulido, a corruption and money-laundering system that illicitly netted them at least $350 million from Venezuelan funds that were later transferred into foreign bank accounts.

Saab was freed from federal custody before his trial began last December as part of a deal between the Biden administration and the Caracas regime. In exchange for the businessman’s freedom, Caracas released 10 Americans U.S. officials said had been wrongfully detained in Venezuela.

According to U.S. authorities, Saab and Pulido had obtained contracts valued at $1.6 billion to import food for the subsidized Venezuelan food program known as CLAP.

According to U.S. officials, the contracts were obtained through the payment of massive bribe to Venezuelan officials. About $180 million of the funds illegally obtained passed through the United States.

The Treasury Department said the businessmen had obtained millions of dollars by overcharging for the products they sold to the food program.

“Through a sophisticated network of shell companies, business partners, and family members, Saab laundered hundreds of millions of dollars in corruption proceeds around the world,” said the Treasury statement at the time. “Alex Saab partnered with Maduro associates to operate a large-scale corruption network that indolently exploited Venezuela’s starving population.”