Ex-Julius Baer Wealth Manager Arrested in Miami in PDVSA Affair
- Five Julius Baer bankers left in June as part of ‘realignment’
- German banker charged for alleged role in money-laundering
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A private banker who until last month was one of Julius Baer Group Ltd.’s wealth managers for Venezuela has been arrested for his alleged role in a billion-dollar scheme to launder funds from the nation’s state oil company PDVSA.
Matthias Krull, a German citizen, was charged for his alleged role in using Florida real estate and false-investment schemes to launder money stolen from PDVSA, the U.S. Justice Department said on Wednesday.