Home Markets Morgan Stanley and Interactive Brokers Face Federal Scrutiny in Venezuela Probe

Morgan Stanley and Interactive Brokers Face Federal Scrutiny in Venezuela Probe

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Federal authorities are scrutinizing two U.S. trading giants and the financial advisers who handled the accounts of a businessman under investigation for allegedly helping a former Venezuelan oil minister launder billions of dollars, according to people familiar with the matter.

Morgan Stanley,

Interactive Brokers LLC and several financial advisory firms managed large-sum accounts for Venezuelan businessman

Luis Mariano Rodriguez Cabello,

who is under investigation for his role in allegedly helping conceal some of the $2 billion in question within the U.S. financial system for his cousin, former Venezuelan oil minister

Rafael Ramírez,

according to the people as well as government documents reviewed by The Wall Street Journal.

U.S. and international agencies are examining whether Mr. Rodriguez helped Mr. Ramírez amass funds from Venezuelan state accounts…

Click here for full article…www.wsj.com