No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeBolivarian RevolutionVenezuelan beer magnate accused of treason

Venezuelan beer magnate accused of treason

CARACAS, Venezuela — 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 Nicolás 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 Chávez 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

Bachelor Star Cassie Randolph Weds Musician in Intimate Costa Rica Wedding

American reality TV star Cassie Randolph tied the knot with musician Brighton Reinhardt in a private ceremony at The Point Luxury Villa in Tamarindo....

Porter Airlines Inaugurates Toronto-Liberia Service in Costa Rica Expansion

Canadian carrier Porter Airlines touched down in Costa Rica for the first time, marking the launch of its new route between Toronto Pearson International...

Inter Miami Crowned MLS Champion as Messi Orchestrates Historic Final

With three goals created by Lionel Messi, Inter Miami were crowned champions of Major League Soccer (MLS) for the first time, beating the Vancouver...

Latin American Stars Shine in Australian Open 2026 Entry Lists

Tennis Australia unveiled the entry lists for the 2026 Australian Open on Monday, showcasing nearly complete top-100 fields for the season's opening Grand Slam....

Former Trump Campaign Chief Involved in Honduras Politics

Trump's former campaign manager, Brad Parscale, provided advice to the campaign of Nasry Asfura, a right-wing presidential candidate in Honduras endorsed by the U.S....

Limón Costa Rica Tops Skyscanner 2026 Travel Trends

Limón Province has claimed the top spot in Skyscanner's 2026 global travel trends report, driven by a 289 percent rise in flight searches compared...
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Travel

Latest News from Costa Rica