In the 15 years since, financial experts
and U.S. prosecutors say the government exchange has also turned into a tool to
empower Venezuelan leaders and enrich already wealthy business insiders. They’ve
siphoned billions out of national coffers by exploiting exchange rates rigged
to make astronomical profits in currency transactions that are inaccessible to
a population struggling with widespread food shortages and runaway prices. A
landmark $1.2 billion money-laundering case in Miami has pulled back the
curtain on the murky government exchange, detailing how it operates and, at
least in this scheme, who is accused of cashing in on it. More… 
Wednesday, September 12, 2018
Venezuela’s hyperinflation fuels misery for poor but enriches elite through currency exchanges
In the 15 years since, financial experts
and U.S. prosecutors say the government exchange has also turned into a tool to
empower Venezuelan leaders and enrich already wealthy business insiders. They’ve
siphoned billions out of national coffers by exploiting exchange rates rigged
to make astronomical profits in currency transactions that are inaccessible to
a population struggling with widespread food shortages and runaway prices. A
landmark $1.2 billion money-laundering case in Miami has pulled back the
curtain on the murky government exchange, detailing how it operates and, at
least in this scheme, who is accused of cashing in on it. More… 
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