Authored by Troy Myers via The Epoch Times,
The former minister of industry for Venezuelan leader Nicolás Maduro’s regime pleaded guilty on Tuesday to a global money laundering conspiracy that skimmed millions from a Venezuelan public welfare program.
According to a Department of Justice (DOJ) news release, Alex Saab, 54, who was extradited from Venezuela in May and charged days later, conducted a decade-long scheme that defrauded a Venezuelan welfare program for food and medicine, netting hundreds of millions of dollars for himself and associates.
Saab, a Colombian businessman, pleaded guilty to conspiracy to launder monetary instruments before federal district Judge Kathleen Williams in Miami. He faces a maximum sentence of 20 years.
“Criminals like Alex Saab who stole from the people of Venezuela and worked to exploit and misuse American financial institutions to fund illicit activities will be held accountable,” FBI Director Kash Patel said in the news release.
Saab is accused of bilking the welfare program known as Local Committee for Supply and Production, or CLAP (Comité Local de Abastecimiento y Producción).
The ex-minister admitted to using a system of bribes and illegal payments to public officials. Entities controlled by conspirators in the scheme would be rewarded with lucrative contracts from the Venezuelan government to import food and medicine under CLAP.
Saab and his conspirators did not fulfill the contracts and would instead use fake companies, false invoices and shipping records, and other fraudulent documents to unlawfully obtain millions while concealing their association with the scheme, the DOJ said.
Saab further admitted he used shell companies outside his country to launder the illegal proceeds around the world, including in the United States.
DOJ Assistant Attorney General Andrew Duva said Saab exploited the American financial system to profit off Venezuelans, creating a “complex web of front companies, shell accounts, and false records to perpetuate his scheme.”
Saab previously was in U.S. custody until former President Joe Biden released him in December 2023 as part of a prisoner swap with Venezuela. The deal included the Venezuelan regime’s release of 30 prisoners, including 10 Americans.
“The government of the Bolivarian Republic of Venezuela celebrates with joy the liberation and return to his homeland of our diplomat Alex Saab, who until today was unjustly kidnapped in a U.S. jail,” the Venezuelan government said following the prisoner-swap deal.
Saab was removed from his position earlier this year by acting leader Delcy Rodríguez, who previously served as Maduro’s vice president until he was captured by U.S. forces in an overnight raid on Caracas in January.
Saab was initially charged in July 2019 on money laundering counts.
He was detained about a year later in the Republic of Cabo Verde at the request of the U.S. government and was eventually extradited to American custody.
“President Biden granted Alex Saab clemency while he was awaiting trial in [Miami], and Saab was released from federal custody and returned to Venezuela. But that was not the end of the story,” said U.S. Attorney Jason Quiñones for the Southern District of Florida.
Quiñones’s office secured a new indictment against Saab in January 2026, and by May he was back in Miami federal court.
The South Florida attorney added that this case sends a clear message: “Political connections, wealth, and proximity to a corrupt regime will not put anyone beyond the reach of American justice.”
The DOJ did not disclose Tuesday how much Saab was accused of stealing, but when he was initially in U.S. custody, he was suspected of siphoning $350 million from Venezuela and laundering it through the United States.
A sentencing date has not yet been set.
Saab’s attorneys did not respond to a request for comment at the time of publication.
