The U.S. has amassed roughly $12 billion from Venezuela's natural resources since President Donald Trump ordered the capture of Venezuelan leader Nicolas Maduro in January, yet a KPMG audit fails to reveal who truly benefits from the funds.
The KPMG report covers the period from Jan. 3, when Maduro was taken, through September, showing about $12.26 billion deposited into a Treasury-run custody account that was initially based in Qatar before shifting to Citibank in New York after criticism. Maduro has been charged with drug trafficking and torture, and the account's balance on Sept. 30 was only about $170 million, indicating rapid disbursement.
U.S. officials claim the money is "distributed back to Venezuela" to support the national currency, but the report provides no clear evidence of the recipients, leaving the claim unverified. Democrats on the House panel have pressed for quarterly audits that the State Department previously promised, yet the KPMG audit is described as incomplete and short on detail. The situation underscores broader concerns about the legality of extracting wealth from a sovereign nation and the transparency of U.S. stewardship of foreign assets.