Krull, formerly managing director and vice chairman of Swiss bank Julius Baer, pleaded guilty to one count of conspiracy to commit money laundering, and is now expected to be sentenced in late October, according to the Department of Justice press release issued late on Wednesday. His specialty at the Swiss bank was Venezuelan clients. In the plea, Krull detailed how he joined a group of individuals who had embezzled the funds, with the intent to launder the billion-plus dollars using Florida real estate and other false investment schemes to hide the fact that the money came from troubled PDVSA. The embezzlement began sometime in 2014. The co-conspirators in the case include former PDVSA officials and other Venezuelan nationals, including Carmelo Urdaneta Aqui, former legal counsel to the Venezuelan Minister of Oil and Mining, and Abraham Edgardo Ortega, former Executive Director of Finance at PDVSA. Other PDVSA officials were allegedly […]