Alejandro Andrade, former national treasurer for the government of Venezuela, was sentenced to 10 years in prison on Monday by Judge Robin Rosenberg of the US District Court Southern District of Florida for his role in a $1 billion bribery and money-laundering scheme.
Andrade started his political career as a bodyguard to the former president of Venezuela, Hugo Chavez. From there, he moved up the political ranks, attaining key positions in the Venezuelan Economic and Social Development Bank and as Venezuela’s Treasurer.
The indictment alleged that Andrade used his position to allow others access to special exchange rates. Andrade’s co-conspirators could then purchase US dollars from the Venezuelan treasury at a discount, and they would then turn around and sell the dollars for profit.
Andrade has cooperated with federal authorities in their pursuit of his co-conspirators, including Raúl Gorrín, the owner of Globovision.
