Former Maduro ally Alex Saab pleads guilty to money laundering and fraud

Alex Saab, a Venezuelan businessman and former government contractor, entered a guilty plea in a New York federal courtroom on Wednesday, admitting to laundering money derived from bribes and fraudulent schemes tied to Venezuela’s social welfare program, “Misiones.” Prosecutors from the U.S. Department of Justice detailed that Saab facilitated the transfer of tens of millions of dollars from officials who siphoned funds intended for public assistance, using a network of offshore accounts and shell companies to conceal the illicit proceeds before moving them into the United States.

The plea agreement, which includes a stipulated restitution amount and a recommended prison term, marks a significant development in the U.S. effort to combat corruption linked to the Maduro administration. While sentencing is slated for later this year, the case underscores ongoing investigations into the financial mechanisms that supported the Venezuelan government’s welfare initiatives and highlights broader international scrutiny of money‑laundering operations connected to state‑run programs.