Swiss Banks Land in Middle of Money-Laundering Probe -- Again
- U.S. said to seek banking records in widening Venezuela probe
- Swiss agree to turn over PDVSA-linked records for 18 banks
Supporter of Venezuelan President Hugo Chavez waves a helmet of PDVSA during a speach of President Chavez at the Oil Complex 'Jose Antonio Anzotegui' in Pto.La Cruz in Anzotegui state.Howard Yanes/ BLOOMBERG
Photographer: Howard Yanes/Howard Yanes/BloombergThis article is for subscribers only.
Swiss banks have a new money-laundering worry: Venezuela.
At the request of U.S. authorities, Switzerland has agreed to turn over records from at least 18 banks involving Venezuela’s state oil company, Petroleos de Venezuela SA, which is the subject of a widening corruption investigation by the U.S. Department of Justice, according to Swiss regulators.