Anonymous ID: f59293 Oct. 29, 2018, 5:25 p.m. No.3657204   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun

Not sure if this was noted today:

 

https://

www.justice.gov/opa/pr/former-swiss-bank-executive-sentenced-prison-role-billion-dollar-international-money

 

Department of Justice

Office of Public Affairs

FOR IMMEDIATE RELEASE

Monday, October 29, 2018

 

Former Swiss Bank Executive Sentenced to Prison for Role in Billion-Dollar International Money Laundering Scheme Involving Funds Embezzled from Venezuelan State-Owned Oil Company

 

The former managing director and vice chairman of a Swiss bank was sentenced to 10 years in prison today, after previously pleading guilty for his role in a billion-dollar international scheme to launder funds embezzled from Venezuelan state-owned oil company Petrรณleos de Venezuela, S.A. (PDVSA).

 

Ultimately, Krull joined the conspiracy to launder $1.2 billion worth of funds that were embezzled from PDVSA, he admitted. Krull and members of the money laundering conspiracy used Miami, Florida real estate and sophisticated false-investment schemes to conceal that the $1.2 billion was in fact embezzled from PDVSA. Krull also admitted that surrounding and supporting these false-investment laundering schemes are complicit money managers, brokerage firms, banks and real estate investment firms in the United States and elsewhere, operating as a network of professional money launderers.

 

Krullโ€™s co-conspirators indicted on Aug. 16 include former PDVSA officials, professional third-party money launderers and members of the Venezuelan elite, sometimes known as โ€œboliburguรฉs.โ€