Venezuela arrests Citgo chief in anti-corruption dragnet
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November 22, 2017
CARACAS, Venezuela (AP) — Venezuelan authorities detained the acting president of Citgo, the state-owned oil company's U.S. subsidiary, and five other executives for their alleged involvement in a corruption scheme, officials said Tuesday.
Jose Pereira and five Citgo vice presidents have been detained on suspicion of embezzlement stemming from a $4 billion agreement to refinance company bonds, chief prosecutor Tarek William Saab said.
Saab said the deal provided "unconscionable and unfavorable" terms for state oil giant PDVSA and offered Citgo itself as a guarantee on repayment without prior g...
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