Jesús Villanueva
Director of PdVSA (2005-2008); Auditor of PdVSA
Jesus Villanueva rose quickly within Petroleos de Venezuela (PdVSA), the state oil company, after Hugo Chavez's election as president in 1998. Villanueva served as general auditor, then as a director in 2002, later returning to auditor and then becoming a director again in 2005. A 2006 filing with the U.S. Securities and Exchange Commission noted that since he was Audit Committee vice president and also the Audit Committee Financial Expert, Villanueva was not "independent" as defined by the New York Stock Exchange. He left the board in 2008, when Chavez replaced six directors but continued as auditor. Villanueva exposed in a 2009 PdVSA confidential memo costly problems with a nationwide food supply network created by Chavez and PdVSA; an audit revealed that only 25 percent of the more than $2.2 million in food imports ordered by mid-2008 had reached Venezuela within six months after payment. PdVSA is currently the focus of a large U.S. investigation into graft, money laundering and other corruption.
Thanks for that link. Son of Kofi Annan...surprise, surprise. among others...