Álex Saab pleads guilty in U.S. court to money laundering conspiracy

Businessman Álex Saab has pleaded guilty in the U.S. District Court for the Southern District of Florida to conspiracy to commit money laundering. As part of a legal agreement, Saab will forfeit $195 million and cooperate fully with U.S. prosecutors.

The investigation details a massive corruption scheme involving the diversion of funds intended for Venezuela’s Local Committees for Supply and Production (CLAP) food and medicine programs. These resources were allegedly moved through accounts in Panama, Bulgaria, Liechtenstein, and Switzerland.

Court documents link three Colombian citizens to the network: Álvaro Pulido Vargas, Emmanuel Enrique Rubio González, and Carlos Rolando Lizcano Manrique. Saab’s cooperation is expected to provide critical testimony regarding the economic mechanisms used to support the administration of Nicolás Maduro, who is currently facing charges in Brooklyn related to narcoterrorism and cocaine conspiracy. Saab faces a potential sentence of up to 20 years in prison, with his final sentencing scheduled for January 2027.