Former Venezuelan oil minister is arrested in connection with corruption probe
Venezuela’s former oil minister, who abruptly resigned amid a corruption investigation within the state-run oil industry last year, has been arrested, the government confirmed on Tuesday. Tareck El Aissami, the ex-oil czar, faces allegations related to a massive financial irregularity where significant oil revenues went unaccounted for.
The Ministry of Communications released images showing El Aissami in handcuffs, escorted by officers, as he walked down a hallway. Attorney General Tarek William Saab announced that El Aissami would appear in court on Tuesday, facing charges including treason, money laundering, and criminal association.
El Aissami resigned shortly before several senior officials in President Nicolás Maduro's government and business leaders were detained in March 2023 as part of the corruption investigation involving international oil sales. Following his resignation, El Aissami retreated from public life, prompting questions about his whereabouts.
Saab explained that El Aissami's arrest took time due to the complexities of the investigation. The attorney general linked the former minister to an alleged scheme that involved selling Venezuelan oil through the country’s cryptocurrency oversight agency alongside the state-run Petróleos de Venezuela S.A. (PDVSA).
Previously, Saab had disclosed that the oversight agency signed crude loading contracts on ships without proper oversight, leading to the diversion of payments meant for PDVSA.
Saab labeled El Aissami as a "master" of corruption and accused him of orchestrating a scheme where oil proceeds were converted into untraceable digital assets. He also mentioned that several individuals detained earlier in the investigation had received death threats after agreeing to cooperate with authorities.
El Aissami's resignation shocked many, considering his image as a loyal member of the ruling party and a significant figure in navigating international economic sanctions against Venezuela.
The United States had previously designated El Aissami a narcotics kingpin in 2017 for his activities in prior governmental roles. Corruption has long plagued Venezuela, despite its vast oil wealth, with few officials facing consequences, much to the frustration of citizens.
Over 50 individuals have been arrested in connection to the corruption probe, including El Aissami's close associate Joselit Ramirez, Venezuela’s former cryptocurrency regulator.
The exact financial loss from these shadowy transactions has not been disclosed, but internal PDVSA documents indicate substantial unpaid debts, partly due to the impact of U.S. sanctions on Venezuelan oil sales.
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