Venezuela arrests two in oil corruption probe

Top officials accused of embezzling funds

CARACAS, Venezuela — Venezuelan authorities on Thursday arrested two former top officials in a widening corruption probe into the state-run oil industry that some see as an attempt by President Nicolas Maduro to consolidate power within his socialist party ahead of next year’s presidential elections.

Former Oil Minister Eulogio del Pino and Nestor Martinez, ex-president of state oil company PDVSA, were arrested just four days after being removed by Maduro in a surprise cabinet shake-up. Both are accused of embezzling state funds, conspiracy and money laundering among other charges, Tarek William Saab, who took over as chief prosecutor following the ousting of one of Maduro’s top critics, said at a press conference in Caracas.

As Saab was speaking, footage of the arrests was broadcast on state TV. In one sequence, military intelligence agents wearing ski masks with assault rifles drawn knock on the residence of Del Pino, who calmly opens the door and consents to being handcuffed while dressed in a jersey of Venezuela’s national soccer team.

In a pre-recorded video released after his arrest, Del Pino said he was the victim of an unjustified attack.

“I hope this revolution gives me the right to a legitimate defense,” he said in the outdoor recording.

Saab said the arrests fulfill a government pledge to assure Venezuela’s vast oil wealth is spent on the poor and isn’t pilfered by corrupt officials with mansions and yachts in the

U.S. While corruption in the country sitting atop the world’s largest oil reserves has long been rampant, officials are rarely held accountable — a major irritant to Venezuelans now struggling to eat three meals a day amid widespread shortages and triple-digit inflation.

“This shouldn’t be seen as an isolated act,” said Saab, adding that 15 other PDVSA managers and officials tied to the oil probe had been arrested in the past 24 hours and a total of 65 since August.