Spain’s Alejandro Betancourt Case Stalls as Washington Stays Silent
VENEZUELA · JUSTICE
Key Facts
- —What happened Spain’s inquiry into Alejandro Betancourt is stalled while Washington ignores a request for legal help.
- —Who decides Judge Santiago Pedraz gave the United States until December 2026 before he may shelve the case.
- —How big Spanish prosecutors allege a US$4.35 billion PDVSA loan and about US$42 million in bribes.
- —The US side Reuters says Florida prosecutors paused their own inquiry; CNN says the Miami office closed it.
- —No charges He has never been indicted or convicted in the United States, Spain or Switzerland.
- —What he says His lawyers say he committed no crime and that no charges have been brought.
Spain’s National Court has investigated Alejandro Betancourt for more than a year. El País reports the case is now stuck because Washington will not answer a request for help.
Spain’s National Court has spent more than a year investigating Alejandro Betancourt, a Venezuelan businessman. El País reported on 14 September 2026 that the case has been stalled for months.
What Spain Is Waiting For
Spain’s National Court, known as the Audiencia Nacional, handles the country’s biggest corruption cases. It has investigated Betancourt since 2025 over alleged money laundering and tax fraud.
The investigating judge, Santiago Pedraz, asked US authorities for help nearly a year ago. He wants testimony from five witnesses already convicted in the United States.
El País reported on 14 September 2026 that nobody in Washington has replied. The Spanish file has not moved since.
Spanish law needs a proven underlying crime before a laundering charge can stand. Without that witness evidence, Pedraz says the case cannot go forward.
The Judge Sets a December Deadline
In a court filing dated 10 August 2026, Pedraz wrote that he cannot wait indefinitely. He said carrying on without the underlying crime would be useless.
He allowed a reasonable amount of time that, in his words, cannot extend beyond December. If no answer arrives, he may shelve the case a second time.
Pedraz had already shelved it in March 2026. The court’s criminal chamber ordered him to reopen it in June, calling the dismissal premature.
El País asked the US Justice Department about the delay and got no reply. The State Department declined to comment on the record.
What Spanish Prosecutors Allege
Spain’s Anti-Corruption Prosecutor’s Office filed the original complaint in June 2025. That office is the unit that brings major graft cases in Spain.
Investigators say PDVSA, Venezuela’s state oil company, issued a US$4.35 billion loan in 2012. They allege the money was meant to leave the country and then be laundered.
They also allege about US$42 million in bribes reached officials. Prosecutors believe large sums were later put into Spanish property and companies.
The complaint also named five other people, none of them convicted of anything. None of this has been tested at trial, and no court has ruled on it.
What the United States Did in Its Own Case
Reuters reported on 5 September 2026 that federal prosecutors in Florida paused their own inquiry. Eight people familiar with the matter described that pause.
Two of them said supervisors later discouraged the prosecutors from going further. Four said the team was never given a reason.
CNN reported a day earlier that the Miami office had closed the case. It said the instruction came from the office of then-Deputy Attorney General Todd Blanche.
A Justice Department spokesperson called that account a complete fabrication. The spokesperson said Blanche had never told anyone to close any case.
Reuters could not establish when the pause began or why it happened. It also could not say whether the pause was linked to any cooperation.
Switzerland, Britain and the Charges That Never Came
Switzerland has investigated Betancourt for money laundering for years. It dropped its request to extradite him from Britain in May 2026.
Reuters said US officials had pressed the Swiss government to ease its inquiries. Four people familiar with the matter described that pressure.
The Zurich Public Prosecutor’s Office said the withdrawal touched only the British extradition step. It said the criminal case against him was otherwise unaffected and would continue.
Betancourt has been investigated in the United States, Spain and Switzerland. Reuters reports that he has never been indicted in any of them.
He has not been convicted of anything, anywhere. Reporting says US prosecutors treated him as an unindicted co-conspirator in a case against others.
What Alejandro Betancourt and His Lawyers Say
Jon Sale, a lawyer for Betancourt, told CNN that his client committed no criminal activity. He said there was no evidence Betancourt knew any money came from bribery.
Sarah Chouraqui, a lawyer for his oil company, told Reuters the allegations had been examined widely. She said no charges had been brought against him.
In Spain his defence has filed a Venezuelan prosecution document that clears him. It says the Venezuelan case closed in 2023 and cannot be tried again abroad.
Spain’s anti-corruption prosecutors reject that reading. They say the Venezuelan file never examined the specific acts under study in Madrid.
Betancourt and his company Derwick Associates have long denied any wrongdoing. Derwick built power plants in Venezuela under contracts worth about US$2 billion.
How Countries Ask Each Other for Help
Countries share evidence through mutual legal assistance treaties. These are formal deals to pass on bank records, documents and witness statements.
Spain asked Washington to let the five convicted witnesses testify by video link. Prosecutors who know the system say such requests should normally move quickly.
There is no legal deadline forcing the United States to answer. A judge quoted by El País said replies tend to come when it suits Washington.
Extradition is a separate process. It asks one country to hand a person over for trial somewhere else.
What Happens Next
The Spanish case is formally open as of mid-September 2026. In practice it is frozen until Washington replies.
Pedraz can shelve it again after December if nothing arrives. A higher court could once more order him to carry on.
Switzerland says its criminal case continues, and it has set no timetable. The paused US inquiry could in principle be restarted.
Betancourt is meanwhile the Pentagon’s partner in a large Venezuelan oil venture. That deal is what pushed his old legal files back into the news.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
Has Alejandro Betancourt been charged or convicted of anything?
No. Reuters reports he has been investigated in three countries but never indicted. He has no conviction.
Did the United States stop Spain’s investigation?
Not by any formal order. El País says Spain is stuck because Washington never answered its request for help.
What do Spanish prosecutors allege?
They allege money laundering and tax fraud tied to funds taken from PDVSA. These remain allegations.
What does Alejandro Betancourt say?
His lawyers say he broke no law. They note that no charges have been brought against him anywhere.
Sources: Reporting by El País, Reuters and CNN. https://english.elpais.com/international/2026-09-14/united-states-stalls-spanish-investigation-into-alejandro-betancourt-its-new-oil-czar-in-venezuela.html https://www.reuters.com/business/energy/venezuelan-billionaire-us-investigated-money-laundering-now-has-pentagon-oil-2026-09-05/ https://www.cnn.com/2026/09/04/politics/trump-admin-quietly-closes-probe-betancourt https://elpais.com/espana/2026-06-02/la-audiencia-nacional-obliga-al-juez-pedraz-a-reabrir-la-causa-contra-el-venezolano-dueno-de-las-gafas-hawkers.html
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