Former Julius Baer Banker Gets 10 Years for Venezuelan Plot
- Matthias Krull pleaded guilty to role in money-laundering case
- Judge suggests she could reduce term if he cooperates fully
Photographer: Diego Giudice/Bloomberg
This article is for subscribers only.
A former Swiss banker was sentenced to 10 years in prison for his role in a plot to launder $1.2 billion stolen from Venezuela’s state-owned oil producer, but the judge said she may reduce his term if prosecutors are satisfied with his cooperation.
The banker, Matthias Krull, 45, was sentenced Monday in federal court in Miami, where he pleaded guilty on Aug. 22. He admitted that he joined a network of money launderers that used real estate and false-investment schemes to hide funds taken from Petroleos de Venezuela S.A., known as PDVSA.