No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeBolivarian RevolutionVenezuelan beer magnate accused of treason

Venezuelan beer magnate accused of treason

CARACAS, VenezuelaĀ — Lawmakers from Venezuela’s ruling Socialist party filed treason charges Wednesday against a prominent billionaire businessman for allegedly seeking an IMF bailout for the recession-ravaged oil giant.

Lorenzo Mendoza, head of Venezuelan food and beverage empire Empresas Polar, could face decades in prison if convicted of the charges, which include conspiracy and “usurpation of state functions.”

The charges were filed with prosecutors by 101 lawmakers from the 167-seat National Assembly, said deputy Pedro Carreno of the United Socialist Party of Venezuela (PSUV), as he presented the document.

The complaint is based on a leaked phone call between Mendoza and Venezuelan economist Ricardo Hausmann that was aired a week ago on a TV program hosted by the speaker of the National Assembly, Diosdado Cabello.

Wikimedia Commons/Guillermo Ramos Flamerich
151021Venzuela2

The United States condemned the threat to try Mendoza, who ranks 690th on Forbes magazine’s list of the world’s wealthiest people, with an estimated fortune of $2.7 billion.

In the conversation, Hausmann tells the 50-year-old magnate he has held “conversations” with the International Monetary Fund because he believes Venezuela needs $40 million to $50 million in international assistance to escape its economic crisis — to which Mendoza agrees.

The businessman tells Hausmann, who was Venezuela’s planning minister in the 1980s, that such a bailout will be “the ABCs of what we’ll need.”

The furor comes as President NicolĆ”s Maduro’s government, battered by falling oil prices, struggles to reverse soaring inflation, chronic shortages and what the IMF predicts will be an economic contraction of 10 percent this year.

A treason conviction carries a sentence of up to 30 years in prison in Venezuela, a criminal lawyer told AFP.

Mendoza said the taped conversation was private and called the accusations “an attempt to manipulate public opinion” as Venezuela heads for key legislative elections that the PSUV risks losing for the first time since its late founder Hugo ChĆ”vez came to power in 1999.

“We are deeply concerned by a climate of polarization and intimidation in Venezuela against those with opposing viewpoints,” said the U.S. State Department.

“All Venezuelans deserve to be able to express their opinions freely and without fear of intimidation.”

Trending Now

Seba’s in Uvita Named One of Latin America’s Top 15 Pizzerias

Seba's, a small pizzeria in the South Pacific coastal town of Uvita, has catapulted into the top 15 of the 50 Top Pizza Latin...

Costa Rica’s PoĆ”s Volcano Records Unusual Crater Collapse and Lake Surge

An unusual eruption inside PoƔs Volcano on April 10 sent ash into the air, pushed the crater lake up by as much as three...

How Costa Rica’s Strong Colón Became a Problem for the Economy

Costa Rica has spent much of the past decade walking a monetary tightrope, and the results have been extraordinary in some sectors and quietly...

Costa Rica Suspends Tree Cutting and Construction Permits in Papagayo

Costa Rica's Constitutional Chamber has ordered the suspension of tree-felling permits, construction authorizations, and density modifications tied to a hotel development in the Papagayo...

Canadian Operators Halt Cuba Packages From June to October 2026

Sunwing Vacations and WestJet Vacations will suspend all flights and vacation packages to Cuba from June 20 through October 9, 2026. The Sunwing Vacations...

Costa Rica Activists Rally Against BahĆ­a Papagayo Plan to Cut 700 Trees

Opposition to the BahĆ­a Papagayo development in Playa PanamĆ” is intensifying after SINAC authorized tree cutting in the project area. The citizen group Salvemos...

Latest News from Costa Rica

Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Travel