Alex Saab

Alex Nain Saab Morán (أليكس صعب; born 21 December 1971) is a Colombian businessman.

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.

In the early 2000, he formed a network of export organisations with family members listed as officers.

Saab joined a group of Colombian businessmen who were exporting merchandise to Colombia from Venezuela using the CADIVI currency system.

According to a Univisión source, during this time Saab accumulated million dollar debts after the suspension of foreign exchange payments by the Venezuelan government, which in turn alleged that some businessmen in the country had cheated millions from the Cadivi system, although Saab was not accused of such fraud.

Saab sued Univisión's journalist Gerardo Reyes in the US after Reyes reported on these issues.

Saab has been investigated by Colombian authorities for allegedly laundering US$25,000 million between 2004 and 2011.

According to an investigation by Noticias Caracol, businessman César Ruiz Sandoval was a key player in Saab's network starting from 2008 and would reportedly receive financial compensation from companies linked to Saab, up to 260 million pesos from HSC Capital, Golden Sun Trading de Colombia, Promotora Dubera and other companies.

Ruiz owned a company named Marmocol de Colombia that would later be called Criadero Porcino Casa Blanca which had a Saab company among its commercial references, Shatex.

Ruiz is also named as a founder and as a shareholder of Soft Solutions (later named Intratex International), along with other partners of Alex Saab.

César Ruiz was killed on 4 June 2022 and the Office of the Attorney General of Colombia would open an investigation on his murder.

Saab was also enriched due to the materials supplier business of the Housing Mission in Venezuela.

According to the Organized Crime and Corruption Reporting Project (OCCRP), in 2009 Saab and his business partner Álvaro Pulido won "an overvalued government contract to build 25,000 units of low-income housing for three or four-times the worth of the original construction cost."

From 2011, Saab worked with Maduro's stepsons, Walter, Yosser and Yoswal, known as Los Chamos, because of their access to Maduro and former Vice President Tareck El Aissami, to secure government contracts.

On 28 November 2011, Saab's Bogota-based company Fondo Global de Construccion (Global Construction Fund) signed an agreement with the Venezuelan government, which resulted in a contract of US$685 million for the construction of prefabricated homes in Venezuela as part of la Gran Misión Vivienda housing programme, The signing was attended by presidents Juan Manuel Santos and Hugo Chávez, and Venezuela's then Foreign Minister Nicolás Maduro.

Saab's lawyer, Abelardo De La Espriella, said that Saab had no connection with the Global Construction Fund.

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.

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.

The company was investigated by Ecuador's government for alleged money laundering through false exports to Venezuela via Colombia; although Saab was not accused of wrongdoing, in 2013 Ecuadorian prosecutors alleged the company was used to launder more than $130 million, but the case was dropped after several years.

A parallel investigation by Colombia's customs agency was dropped in 2014 when the investigator resigned and moved abroad due to death threats.

In 2014, Antigua and Barbuda's prime minister Gaston Browne invited Saab to become special economic envoy to Venezuela, granting him Antiguan citizenship.

He had a contract to build a factory in Antigua to make housing panels, but the factory never opened.

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.

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 United States, accused of money laundering.

Saab's extradition to the United States was approved by the Barlovento Appeals Tribunal, Cape Verde's Supreme Court of Justice and its Constitutional Court.

The Venezuelan government denied or ignored any relationship with Saab for years, but after his arrest in Cape Verde it started deploying a support campaign in favour of Saab and to prevent his extradition, using government social media accounts and filling Caracas with billboards, murals and graffitis asking for his release, organizing demonstrations in his support, and starting a YouTube series about him.

He was extradited to the United States on 16 October 2021 and charged with eight counts of money laundering, accused of moving $350 million out of Venezuela into accounts controlled in the United States and other countries, as well as falsifying documents to obtain contracts for the construction of affordable housing, facing up to twenty years in prison.

Maduro's government suspended negotiation talks with the political opposition as a response.

According to court documents released in 2022, Saab became a U.S. Drug Enforcement Administration (DEA) informant in 2018, during which time he shared information about the bribes that he offered to Venezuelan officials and contracts with the government.

In December 2023 Saab was released from jail to be sent back to Venezuela in exchange for ten American prisoners being held in Venezuela in a prisoner exchange.

Alex Saab is the son of a Lebanese immigrant, Luis, who settled in the city of Barranquilla and opened various businesses, including Textiles Saab, finding success in Colombia's textile industry.

Alex Saab attended the German School of Barranquilla, an elite private school.

Saab began his career in Barranquilla at age 18, selling business promotional keychains and subsequently work uniforms.

By the time he was 19, he had opened a T-shirt factory.