Real Estate

The luxury real estate portfolio of the looters of Venezuela’s state oil company: 21 homes valued at $52 million | International

Luxury homes, penthouses and apartments in dream skyscrapers. The former Chavista leaders – who looted more than $2 billion from Petróleos de Venezuela, SA (PDVSA) – put some of their ill-gotten gains in a real estate portfolio of 21 exclusive properties, which are valued at around $52 million. This is according to a confidential report from the Financial Intelligence Unit of Andorra (UIFAND), to which EL PAÍS has had access.

The criminal network made these investments while carrying out the looting of the state-owned oil company between 2007 and 2012. This was done through the organization’s alleged frontman, Luis Mariano Rodríguez Cabello. And, through several shell companies (none registering activity), the businessman – according to his testimony – purchased 19 luxury homes in Venezuela between 2008 and 2014. These properties were priced between $304,000 and $5.5 million.

Rodríguez Cabello used his 11 accounts in the Banca Privada d’Andorra (BPA) –

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