U.S. Officials Intervened in Swiss Case Against Venezuelan Businessman Betancourt, Reports Say

S. Intervention in Betancourt Case

Senior S. officials intervened in an international criminal investigation into Venezuelan businessman Alejandro Betancourt, according to two people familiar with the matter, as reported by The Detroit News. The officials lobbied to resolve the case in Switzerland in a way that would avoid criminal charges and end travel restrictions against Betancourt, and they have not acted on a Swiss arrest warrant, the sources said.

Betancourt, 46, has faced multiple investigations in Switzerland, Spain, and the United States over alleged money laundering, including a role in a loan arrangement that S. prosecutors say embezzled more than $1 billion from Venezuela's state-owned oil company. He was arrested twice in Britain in 2025—first after Spain issued a warrant, then in November at Switzerland's request—and was barred from leaving the UK for months as authorities considered extradition.

Despite the scrutiny, Betancourt has not been charged in the , Switzerland, Spain, or Venezuela. His S. attorney, Jon A. Sale, previously denied his client's involvement, telling the Miami Herald in 2021, "My client denies any wrongdoing."

Lobbying and Travel

Weeks after the S. military captured Venezuelan President Nicolás Maduro on Jan. 3, senior S. officials began lobbying Swiss officials to resolve their case against Betancourt, according to people familiar with the discussions. In early February, then-Attorney General Pam Bondi spoke with her Swiss counterpart Stefan Blattler about Betancourt, as reported by The Detroit News.

On March 19, Swiss prosecutors held a video meeting with Betancourt's attorneys, including Todd Blanche and Colin McDonald. On May 13, Swiss prosecutors dropped their extradition request to Britain; the Justice Department then received a request from Switzerland for Betancourt's arrest. The S. has allowed Betancourt to enter the country repeatedly for meetings with the Trump administration, and he has traveled to the S. at least twice and taken private jets to Venezuela.

A former prosecutor quoted by The Detroit News said of the intervention, "It made no sense," reflecting concerns about the appropriateness of S. officials' actions.

Betancourt's Role and Business

Betancourt has become the cornerstone of the Trump administration's Venezuela strategy, according to a major investigation published by The Sunday Times and reported by Yahoo News New Zealand. He was picked by Secretary of State Marco Rubio to serve as the key intermediary between the Trump administration and the government of interim President Delcy Rodríguez, sources told The Sunday Times.

Betancourt is styling himself as Venezuela's new "oil tsar," helping Washington negotiate deals and revive oil production after Maduro's removal. His company, NABEP, ramped up oil output to nearly 200,000 barrels from 18,000 in two years, as reported by The Detroit News.

Mauricio Claver-Carone, Rubio's friend and adviser on Venezuela, told Reuters that S. officials used Betancourt because he understood the oil business in both Venezuela and the United States. Bloomberg separately reported that Claver-Carone helped assemble many of the figures executing Washington's strategy, including Betancourt.

Controversial Past

Betancourt's history is controversial. He co-founded Derwick Associates, which received about $5 billion in no-bid Venezuelan government power contracts despite having no previous experience, according to a report by Yahoo News New Zealand. Transparency International estimated Derwick overbilled Venezuela by 9 billion, though Derwick disputed the allegations.

Betancourt was identified as an unnamed conspirator in a 2019 criminal complaint against his cousin Francisco Convit, and in 2024, Raul Gorrin was charged by the S. with involvement in the alleged loan scheme. Betancourt's attorney has consistently denied any wrongdoing.

Oil Deals and S. Policy

The Sunday Times investigation also reported on broader S. efforts to revive Venezuela's oil industry. Bloomberg reported preliminary agreements worth billions went to American firms like Lionheart Capital and Pacific Coast Energy Co. Florida energy businessman Harry Sargeant III sold his minority interest in North American Blue Energy Partners for $300 million to an undisclosed party reportedly close to Betancourt.

Reuters reported that Claver-Carone was no longer overseeing Venezuela policy in July; he said he left voluntarily, but sources said he was forced out. Reuters also reported Claver-Carone played a key role in Centerview Partners winning a contract worth more than $150 million to advise on restructuring roughly $200 billion in Venezuelan debt without competitive bidding. Centerview banker Matthieu Pigasse denied that Claver-Carone or S. officials were involved in securing the mandate.

Trump said shortly after Maduro's removal that major oil companies would invest at least $100 billion in Venezuela. However, ExxonMobil's CEO called the country "uninvestable." One S. oil industry source told The Sunday Times: "We just want to get this done. We just want to sign the deals. We just want to see the oil flowing."