Spanish Businessman Testifies Regarding Venezuela Gold Deal Involving State Bank
What happened
A Spanish businessman testified in Madrid regarding a gold deal involving Venezuela. He stated that a contract was signed with BANDES, the Venezuelan state development bank, in 2020. The deal allegedly involved gold that Maduro’s government reportedly handed to a fund in the UAE in 2017, with the contract benefiting a company in the British Virgin Islands.
From riotimesonline.com
Why it matters
The testimony confirms the existence and terms of a gold contract signed by BANDES. The allegations expose potential irregularities in a state-backed gold transaction involving the national bank and offshore financial structures.
From riotimesonline.com
Who's involved
- Nicolás MaduroPresident of Venezuela, whose government is linked to the alleged gold transfer.
- BANDESThe Venezuelan state development bank that signed the gold contract.
- British Virgin IslandsThe British overseas territory where the company allegedly receiving the funds was registered.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- BANDESSpeculative
BANDES might face increased regulatory scrutiny regarding the terms of the gold contract signed by the state bank.
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The entities involved
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Nicolás Maduro
President of Venezuela 2013 to 2026
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Dubai
most populous city in the United Arab Emirates and the capital of the Emirate of Dubai