Venezuela arrests nine CVG officials over corruption probe

Investigation into state metals conglomerate follows similar probe at PDVSA

Venezuelan authorities have taken nine officials from state-owned metals conglomerate Corporacion Venezolana de Guayana (CVG) – including from steel-maker subsidiary Sidor – into custody during corruption investigations, attorney general Tarek Saab said on Sunday.

Prosecutors began investigating irregularities at CVG and Sidor on Friday, adding to investigations into alleged corruption at state oil company PDVSA and a government agency overseeing cryptocurrency transactions, both led by Tareck El Aissami who subsequently resigned as oil minister.

Nestor Astudillo and Pedro Maldonado, the presidents of Sidor and CVG respectively, are under arrest, as well as four company vice presidents and three managers, Saab said on Twitter.

The government of Venezuela’s President Nicolas Maduro on March 31 appointed an oversight board in CVG, according to the country’s official gazette, which was read on state television.

Some 42 people have been arrested as part of investigations into corruption, Saab tweeted on Saturday night, without giving more details.

Last week 21 people – including officials, businessmen and a member of the National Assembly – were charged relating to losses incurred by PDVSA when tankers left the country with cargoes that had not been paid in full, the authorities said.

-Reuters

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