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by Algernon Watts
Colombian businessman Álvaro Pulido Vargas remains in US custody after appearing before a Miami federal court on Tuesday on money-laundering charges involving allegations of funds passing through bank accounts in Antigua and Barbuda.
His next hearing is scheduled for November 4. The 62-year-old was informed of his rights and the charges during the October 13 appearance. Pulido faces 13 counts across two federal indictments filed in 2019 and 2021. The US Justice Department announced on October 11 that he was in custody in the Southern District of Florida.
The Antigua connection features in the 2021 case, which concerns an alleged bribery scheme involving approximately US$1.6 billion in Venezuelan government contracts to supply food and medicine. Prosecutors allege that Pulido and his co-defendants secured contracts through Venezuela’s government-controlled CLAP programme by bribing officials, then inflated contract costs to finance those payments and enrich themselves.
The Justice Department alleges that proceeds
were laundered through bank accounts in Antigua, the United Arab Emirates, the United States and
other jurisdictions. Approximately US$180 million
was allegedly transferred through or into the
United States as part of that scheme.
Pulido faces one count of conspiracy to commit money laundering and four substantive money-laundering counts in the 2021 case. Each carries a maximum penalty of 20 years in prison if he is convicted.
The separate 2019 indictment names Pulido and businessman Alex Saab in an alleged scheme involving Venezuelan contracts to construct low-income housing. Prosecutors contend that the pair used fraudulent import documents and bribed Venezuelan officials to obtain payments through the country’s government-controlled currency-exchange system.
According to the Justice Department, approximately US$350 million was transferred out of Venezuela through the United States and into overseas accounts they owned or controlled. Pulido faces one conspiracy count and seven money-laundering counts in that case.
US authorities have not announced any cooperation agreement with Pulido. The charges remain allegations, and he is presumed innocent unless proven guilty.