One Swiss bank keeps showing up in search for Venezuela’s missing billions
Geneva-based CBH is the go-to bank for Venezuelans to hide money, says former financial crimes investigator
17 October 2019 - 17:26
Madrid/Miami — As Venezuela’s chronic food shortages began intensifying, Naman Wakil, a former street peddler who made millions of dollars supplying meat to the socialist government’s food programmes, decided to share the wealth.
Wakil ordered his Swiss bankers to transfer $5.9m to relatives of state food minister Carlos Osorio, who’d given him the meat contracts, bank records show. Venezuelan legislators labelled this series of payments from 2012 and 2013 as “suspicious transactions” in an official report...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.