Money Laundering: US crackdown on Venezuelan cash

Last year, a Venezuelan banker was convicted of running a $1.2bn money-laundering scheme, all with stolen government money.

Investigators say most of the cash was used to buy real estate in Florida.

The money was stolen from a country that is in a deep humanitarian and economic crisis.

United States authorities have launched a renewed crackdown on these kinds of schemes.

Al Jazeera’s Andy Gallacher reports from Miami, US.

This post was originally posted on Al Jazeera English – View Original Article

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About the Author

Have lived and invested in Venezuela full time for the last eight years and visited for each of twelve years prior to that. Studied and closely followed developments in Venezuela since 1996.