Spanish Court Reopens Investigation into Hawkers Owner Over Money Laundering. A Spanish court has ordered a review of the case against the Venezuelan businessman and owner of Hawkers. The investigation was previously closed, but the prosecutor’s office insists on new questioning. The focus is on possible laundering of millions through Spain.
A new stage of a high-profile investigation is unfolding in Spain: judges of the National Court have ordered Judge Santiago Pedraz to reopen the case against Venezuelan businessman Alejandro Betancourt, known as the owner of the Hawkers brand. The case had previously been closed, but the Anti-Corruption Prosecutor’s Office insisted on resuming the investigation, citing unresolved circumstances of possible large-scale money laundering linked to transactions involving PDVSA and the private company Administrador Atlantic.
The reason for the review was that, according to prosecutors, key episodes of corruption related to the transfer of funds to Europe were not addressed in Venezuela. The judges agreed: the investigation in Spain can continue since local incidents were not subject to trial in Caracas. The case materials mention an amount of $4.85 billion allegedly taken out of Venezuela through complex currency schemes and investments in Spanish assets.
Among the suspects are not only Betancourt, but also his relative Pedro Jesús Benito Trebbau, entrepreneur Francisco Convit Guruceaga, and three other individuals. Investigators link them to the 'bolichicos' group—businessmen who amassed fortunes on government contracts during the heyday of the Chávez regime. According to prosecutors, part of the funds entered Spain after bribes were paid to Venezuelan officials who have already pled guilty in the US and received actual prison terms there.
Judge Pedraz had previously closed the case, citing the fact that the Venezuelan judiciary had already recognized the legality of the disputed loan and found no evidence of a crime. However, the prosecutor's office considered this decision premature: key witnesses had not yet been questioned in Spain, and some requests to the US and Venezuela remained unanswered. Those expected to be questioned include former PDVSA top managers and other figures already convicted in the US for similar schemes.
An important element of the case was information received from Switzerland: it was the Zurich prosecutor's request in September 2024 that prompted the start of the Spanish investigation. The operation was informally named 'Operation Bolivar' and concerned the transfer of funds from PDVSA and the Venezuelan National Treasury through European banks. As noted by EL PAÍS, the investigation in Spain was conducted in secret for several months and covered not only real estate investments but also the creation of new companies and the purchase of shares.
According to RUSSPAIN, similar cases in Spanish courts often face international legal conflicts, when decisions by foreign courts influence the course of the investigation in Spain. For example, in Catalonia, a judge suspended hearings in another high-profile case due to security threats, which was detailed in the article about the suspension of questioning in the flood case. In Betancourt's case, Spanish authorities decided not to be limited by the conclusions of their Venezuelan colleagues and to continue their own investigation, including new interviews and international requests.
Context: PDVSA is Venezuela's state-owned oil company, which has repeatedly appeared in international investigations into corruption and money laundering. In recent years, Spain has tightened its oversight of foreign investments and transactions involving large sums, especially when the funds originate from countries with a high risk of corruption. The decision of the National Court could set a precedent for similar cases related to transnational capital outflow schemes.
