Zapatero case: Financiers allegedly received €80 million from Venezuelan gold looting

Investigators from the UK's National Crime Agency (NCA) have revealed that British companies owned by financiers involved in the ‘Zapatero case’ received more than 80 million euros from entities involved in the movement of Venezuelan gold. The funds reportedly originated from Noor Capital PSC, a company based in the United Arab Emirates.

The investigation, supported by findings from the French Financial Markets Authority (AMF), suggests that the alleged money laundering scheme led by Simon Leendert Verhoeven and Luis Felipe Baca Arbulu was linked to the looting of over one billion dollars from gold bullion sales by the Venezuelan government under Nicolás Maduro.

Authorities suspect a scheme existed that allowed Venezuelan officials to embezzle funds obtained from the sale of the country's gold. Baca Arbulu was detained in Aruba, while Verhoeven was arrested in Frankfurt, Germany.