Alex Saab

Alex Nain Saab Morán (born 21 December 1971) is a Colombian-born Venezuelan businessman who served as Venezuela’s Minister of Industry and National Production from October 2024 to January 2026. Saab was the subject of journalistic investigations for conducting businesses estimated at US$135 million with the Venezuelan government, while other Colombian businessmen had stopped exporting to Venezuela due to uncertainty regarding payments and tight exchange controls. Saab's name has appeared in multiple ICIJ leaks including the Panama Papers, Pandora Papers and the FinCEN Files. Saab was enriched by the materials supplier business of the Housing Mission in Venezuela. Armando.Info, a Venezuelan investigative journalist outlet, reported that Saab received US$159 million from the Venezuelan government to import housing materials between 2012 and 2013, but only delivered products worth US$3 million. He later sold food to Venezuela for more than US$200 million in a contract signed by President Nicolás Maduro. The food was later resold in Venezuela for 112% more than its original price. Saab has been investigated by Colombian authorities for allegedly laundering US$25 million between 2004 and 2011. On 8 May 2019, the Office of the Attorney General of Colombia indicted Saab with charges of money laundering, concert to commit crimes, illicit enrichment, fictitious exports and imports, and aggravated fraud for events related to his Shatex company. During the course of these investigations, his accounting auditors were arrested and charged by the prosecutor's office. Both Saab and his accountant were acquitted of the Colombian charges in May 2024. During a fuel stop at Cape Verde, Alex Saab was arrested while on his way from Venezuela to Iran on a business jet on 12 June 2020. Saab was arrested in accordance to an Interpol red notice in relation to his indictment in the United States, accused of money laundering. Saab's extradition to...