Colombian Businessman Álvaro Pulido Arrested in U.S. over Alleged $2bn Venezuelan Laundering Scheme

Álvaro Pulido, a 62-year-old Colombian national, has been taken into custody in the United States after authorities said he allegedly laundered proceeds siphoned from a Venezuelan government welfare program. The US Department of Justice confirmed Pulido’s arrest during a Homeland Security Task Force operation but did not disclose how he came into US custody.

Venezuelan authorities had held Pulido in custody since March 2023 on accusations that he diverted funds tied to PDVSA, the state-run oil company. US agencies, including the Drug Enforcement Administration and the State Department, had previously offered a $10 million reward for information leading to his arrest.

Federal Charges and Allegations

US prosecutors have charged Pulido in two separate federal indictments alleging involvement in schemes that laundered more than $2 billion linked to bribery and the misuse of public contracts. According to the indictments, Pulido and four co-defendants allegedly paid bribes to Venezuelan officials to win contracts for supplying food and medical goods intended for impoverished Venezuelans.

The government contends the defendants dramatically overcharged the Venezuelan state and moved illicit profits through bank accounts overseas, including accounts in the United States. In addition, authorities allege Pulido collaborated with Alex Saab to launder roughly $350 million from a separate bribery scheme tied to Venezuela’s currency exchange system, using Florida-based accounts.

Connections to Alex Saab and Recent Legal Developments

Pulido’s arrest follows the recent guilty plea by Alex Saab, a Colombian businessman who had close ties to Venezuela’s government. Saab — once influential enough to be named minister of industry in 2024 — was seized by US forces in January in Caracas and later transported to New York on drug-trafficking charges. His standing changed rapidly: the interim Venezuelan government removed Saab from his ministerial role and extradited him to the United States in May.

Pulido is scheduled to appear in a US court after being indicted on allegations of extensive money laundering and bribery. The US Attorney’s Office stated the charges involve multiple schemes that purportedly enriched the defendants at the expense of Venezuelan public programs.