Venezuela: Venezuela court annuls Congress probe of $11 billion missing at PDVSA

Author(s): Darren Ornitz | Date: October 27, 2016 | Language: English
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Venezuela’s top court on Thursday approved an injunction against a congressional probe that found Rafael Ramirez, the former president of state oil company PDVSA, was responsible for corruption and malfeasance that cost the firm $11 billion.
A congressional commission this month said the funds had gone missing during Ramirez’s time in charge, from 2004 to 2014, citing 11 cases of alleged corruption including overpricing of drilling rigs and a scandal over money laundering through an Andorra bank.
Ramirez, who denies the charges, had requested an injunction from the Supreme Court to block the investigation. Opposition leaders in Congress had said they could use the probe to hold him politically responsible or take legal action against him.

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