Colombian businessman Alex Saab, close ally of ousted Venezuelan President Nicolas Maduro, pleaded guilty Tuesday in Miami to conspiracy to launder money. Saab admitted skimming hundreds of millions from Venezuela's CLAP food welfare program using fake companies and false invoices, and laundering via shell firms in the US. He agreed to forfeit $195M and cooperate with federal investigations.


Alex Saab, ally of Venezuela's Maduro, pleads guilty in US corruption case

Alex Saab, a Colombian businessman, is at the heart of a high-profile US-Venezuela prisoner swap. A close aide to Venezuelan President Nicolas Maduro, Saab has faced charges of money laundering and corruption. His 2020 arrest in Cape Verde and subsequent extradition to the U.S. sparked international debate over his diplomatic status. Recently, U.S. President Joe Biden's decision to grant clemency to Saab led to Venezuela releasing several Americans and opposition figures.

Gravitas: Who is Alex Saab, the Maduro ally Biden gave clemency to?

The United States is preparing to release Colombian businessman Alex Saab, a close ally of Venezuelan President Nicolas Maduro in exchange for Americans jailed in Venezuelan prisons, according to multiple news reports in the Western media. CBS News reported that a deal has been reached between the two countries and Venezuela will release at least eight Americans from its jails.

Alex Saab has been accused by US prosecutors of stealing USD 350 million from Venezuela via the US, an operation that prosecutors say involved bribing government officials in Venezuela. Saab denies the charges.

In October this year, the United States relaxed some sanctions on Venezuela after the latter agreed to hold fair elections in 2024.

However, the White House has said that it was ready to pause the sanction relief unless there was progress on the issue of prisoners.

Reuters reported that US President Joe Biden was asked about the progress on prisoner exchange by reporters in Wisconsin to which he said the situation "looks good."

"It looks like Maduro, so far, is keeping his commitment on a free election. It ain't done yet. Got a long way to go. But it's good so far," said Biden as quoted by Reuters.

<h2>A major gain</h2>

Although Venezuela is releasing several American prisoners in exchange for one person, the release of Saab is being considered a major gain for Maduro. Saab's return to Venezuela was earlier seen as unlikely. But he has not yet been convicted in the US.

US Secretary of State Antony Blinken said earlier today that he was looking forward to the release of Americans from Venezuelan custody.

"We want to make sure that our fellow Americans are released. We are also focused on political prisoners in Venezuela and trying to ensure their release," said Antony Blinken.

"We hope to have some good news to share probably later today."

(With inputs from agencies)

The United States is preparing to release Colombian businessman Alex Saab, a close ally of Venezuelan President Nicolas Maduro in exchange for Americans jailed in Venezuelan prisons, according to multiple news reports in the Western media.

The United States is preparing to release Colombian businessman Alex Saab, a close ally of Venezuelan President Nicolas Maduro in exchange for Americans jailed in Venezuelan prisons, according to multiple news reports in the Western media. CBS News reported that a deal has been reached between the two countries and Venezuela will release at least eight Americans from its jails. Alex Saab has been accused by US prosecutors of stealing USD 350 million from Venezuela via the US, an operation that prosecutors say involved bribing government officials in Venezuela. Saab denies the charges. In October this year, the United States relaxed some sanctions on Venezuela after the latter agreed to hold fair elections in 2024. However, the White House has said that it was ready to pause the sanction relief unless there was progress on the issue of prisoners. Reuters reported that US President Joe Biden was asked about the progress on prisoner exchange by reporters in Wisconsin to which he said the situation "looks good." "It looks like Maduro, so far, is keeping his commitment on a free election. It ain't done yet. Got a long way to go. But it's good so far," said Biden as quoted by Reuters. A major gain Although Venezuela is releasing several American prisoners in exchange for one person, the release of Saab is being considered a major gain for Maduro. Saab's return to Venezuela was earlier seen as unlikely. But he has not yet been convicted in the US. US Secretary of State Antony Blinken said earlier today that he was looking forward to the release of Americans from Venezuelan custody. "We want to make sure that our fellow Americans are released. We are also focused on political prisoners in Venezuela and trying to ensure their release," said Antony Blinken. "We hope to have some good news to share probably later today." (With inputs from agencies)

US to release close ally of Venezuela President Maduro in exchange for US detainees

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Alex Saab, ally of Venezuela's Maduro, pleads guilty in US corruption case

Gravitas: Who is Alex Saab, the Maduro ally Biden gave clemency to?

US to release close ally of Venezuela President Maduro in exchange for US detainees