Maduro ally Alex Saab pleads guilty in a $195M money laundering case, agrees to cooperate

MIAMI (AP) – A close ally of former Venezuelan President Nicolás Maduro long described by U.S.

Key points

• Saab, 54, was deported in May by Venezuela's acting President Delcy Rodriguez to the U.S.
• As part of the plea accord, Alex Saab agreed to cooperate in continuing federal investigations, paving the way for his eventual cooperation against his former protector.

MIAMI (AP) – A close ally of former Venezuelan President Nicolás Maduro long described by U.S. Authorities as the ousted leader's frontman pleaded guilty Tuesday to a single count of capital laundering tied to an alleged bribery conspiracy to win lucrative administration contracts in the South American country.

As part of the plea accord, Alex Saab agreed to cooperate in continuing federal investigations, paving the way for his eventual cooperation against his former protector. He additionally agreed to forfeit $195 million in criminal proceeds from the corruption scheme.

Saab, 54, was deported in May by Venezuela's acting President Delcy Rodriguez to the U.S. It has been targeting the Colombian-born businessman for more than a decade.

Meanwhile, the funds laundering offense carries a maximum 20-year penalty but prosecutors agreed to recommend a sentence at the low end of the recommended range and seek further reductions should his cooperation prove substantial.

For now, maduro ally Alex Saab pleads guilty in a $195M money laundering case, remains the part of the story worth watching, and further updates are likely as more details are confirmed.