The former minister and Colombian-Venezuelan businessman Alex Saab, identified by U.S. prosecutors as the main frontman and financial operator for the ousted president Nicolás Maduro, pleaded guilty this Tuesday to a charge of conspiracy to launder monetary instruments and will receive his sentencing on January 20, 2027.
Saab, 54 years old, appeared before federal judge Kathleen M. Williams at the Southern District Court of Florida in Miami, who scheduled the sentencing hearing for that date at 2 p.m. (local time).
According to court documents released on Wednesday, Saab reached an agreement with the Prosecutor's Office, whereby he agreed to forfeit 195 million dollars in illicit gains and to fully cooperate with ongoing federal investigations, including questioning by U.S. agents. The Prosecutor's Office set a deadline of 14 days for him to disclose the assets related to the crimes, reported the agency EFE.
The charge for which he pleaded guilty carries a maximum sentence of 20 years in prison and a fine of up to $500,000. The prosecutors indicated that they will recommend a sentence below the maximum and may request further reductions based on the extent of his cooperation.
The former Minister of Industry and National Production of Venezuela (2024-2026) agreed to "fully cooperate" with the U.S. Department of Justice (DOJ), revealing "truthful and complete information and testimony," as well as "the provision of documents, records, and other evidence" requested by the authorities.
The scheme for which he was accused involves the diversion of funds from contracts with the Venezuelan government, including those from the Local Supply and Production Committee (CLAP) program —designed to distribute food and medicines to the population— through shell companies, falsified shipping records, and bank accounts in multiple countries to conceal the origin of the money.
Saab's guilty plea is considered potentially decisive for broader investigations into the Chavista environment, especially following Maduro's capture by U.S. military forces on January 3, 2026.
The judicial history of Saab has several chapters. He was first arrested in Cape Verde in June 2020 while making a stopover on a flight to Iran, and was extradited to the United States in October 2021 to face charges of money laundering, bribery, and conspiracy.
In December 2023, he was released as part of a prisoner swap between Washington and Caracas, and returned to Venezuela, where the government welcomed him as a political figure. Upon stepping on Venezuelan soil, he declared, "I am proud to serve this government."
The twist came in February of this year, when he was arrested again in Venezuela. In mid-May, he was deported to the United States and formally charged in Miami with money laundering, conspiracy, and bribery of high-ranking Venezuelan officials to profit from government contracts.
His confession and the cooperation agreed upon with the prosecution open a new avenue for criminal investigation against the chavismo environment, the extent of which will largely depend on the information that Saab provides before Judge Williams delivers the verdict in January.
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