Venezuela Arrests Top Execs of State-Owned Citgo

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The top six executives at Citgo, the US unit of Venezuelan state oil company PDVSA, were arrested on corruption charges, the Andean nation’s attorney general said on Tuesday.

The accused signed contracts that “compromised the national patrimony and the future of this important subsidiary,” Tarek William Saab said.

Taken into custody along with Citgo Petroleum chief executive Jose Angel Pereira Ruimwyk were five company vice presidents: Tomeu Vadell, Alirio Zambrano, Jorge Toledo, Gustavo Cardenas and Jose Luis Zambrano.

All six are accused of embezzling public funds, money laundering and criminal conspiracy, among other offenses.

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