Trusted sources opposed to the government of Venezuelan President Hugo Chavez have reported that high-ranking government officials responsible for the movement of billions of dollars of Venezuelan government reserves from US banks to Swiss financial institutions have collected illicit "commissions" from a number of the receiving banks, It has been alleged that some of the massive funds transfers, believed to be now located in as many as 40 Swiss banks, including 4 major banks, were solicited by certain unidentified bankers and encouraged by the payment of fees, paid personally to the corrupt Venezuelan PEPs, of 1 to 2% of the value of the deposits. These illegal fees, which could be in the millions of dollars for the large transfers, and which are obviously the proceeds of crime, are then deposited in financial institutions outside Venezuela. Are there money laundering issues here? Take your pick.

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