Alejandro Betancourt López

Alejandro Betancourt López
Alejandro Betancourt
Born1980 (age 45–46)
Caracas, Venezuela
EducationSuffolk University
Oxford University
OccupationsChairman and CEO of Derwick Associates
President of Hawkers
Spouse
Andreína Rojas
​
(m. 2012)​
WebsitePersonal website

Leopoldo Alejandro Betancourt López (born 1980) is a Venezuelan businessman. He is chairman and CEO of Derwick Associates[1] and leads the international investment group O'Hara Administration.[2] Betancourt López is a director of Pacific Exploration & Production Corporation, controlling 19.95% of the company. He is also president of Hawkers, a Spanish sunglasses company,[3] and known as one of the Bolichicos, a term applied to a group of young Venezuelan men who have become millionaires thanks to their close connections to the Chavista regime.[4][5][6]

Early life and education

Betancourt has a double major in Economics and Business Administration from the Suffolk University of Massachusetts, United States[7] and an Executive MBA from Oxford University.[8]

Career

Betancourt started his career at a company specializing in the energy sector and in the exploration, production and trade of oil and its derivatives. The company has presence in the U.S., Europe, Middle East, South America and Africa. There, he served as business manager for Latin America.

He later worked at Guruceaga Group, a company dedicated to international trade in goods, finance, real estate and farm, in which he was manager of new business.[9] He also worked at BGB Energy, a company that was responsible for representing, in joint venture with the old GESCA GAS in Venezuela, international corporation Kawasaki Heavy Industries.

Derwick

Betancourt is the co-founder, along with Pedro Trebbau López, of Derwick Associates Corp., a Venezuelan company working in the energy sector. He has also co-founded eponymous companies in Panama, the United States, Spain, and Barbados.

Since it started operations in 2003,[10] the company has obtained eleven contracts for the construction of power plants in Venezuela; five contracts awarded by Electricidad de Caracas (to join Corpoelec in December 2011), five by Petroleos de Venezuela SA (PDVSA negotiated with Bariven, a PDVSA division), and one by Corporación Venezolana de Guayana (CVG).

As co-founder of Derwick Associates, Betancourt has been linked to corruption scandals in Venezuela.[11][12][13] Derwick was reportedly awarded government projects despite having limited experience in the electricity sector.[11] Derwick denies the allegations.[14]

Thor Leonardo Halvorssen Mendoza sued Derwick and Betancourt.[15] Banco Banesco and Derwick Associates claimed that the accusations were false;[16] the lawsuit was dismissed.[17]

In 2025, Betancourt was investigated by judge Santiago Pedraz of the Audiencia Nacional (Spain's High Court), following a complaint filed by Spain’s Anti-Corruption Prosecutor’s Office in connection with an alleged money-laundering scheme involving funds from PDVSA. The case, originated from a legal-assistance request sent by the Zurich prosecutor's office on September 2024.[18] On 17 June 2025 the Office of the Prosecution Ministry filed a complaint against six Venezuelan businessmen, including Betancourt.[19] Betancourt was detained in London in September 2025 under a Spanish arrest warrant and released hours latter after questioning.[20] The secrecy order on the proceedings was lifted on 11 November 2025.

In March 2026, Pedraz dismissed the case, finding that Venezuelan courts had already examined the origin of the funds and determined that no crime had occurred.[21]

In June 2026, the Criminal Chamber (Sala de lo Penal) of the Audiencia Nacional overturned Pedraz's dismissal as "premature" and ordered the investigation reopened, siding with the Anti-Corruption Prosecutor's Office, which argued several aspects of the alleged scheme, said to involve a fraud of approximately $4.85 billion, remained unresolved.[22] A separate Miami Herald investigation reported that funds tied to an alias identified by several sources as Betancourt had allegedly been transferred by his cousin Francisco Convit, though Betancourt was not charged, since investigators found no evidence he participated in or was aware of the alleged scheme.[23]

Pacific Exploration & Production

In May 2015, O'Hara Administration, an international investment group led by Alejandro Betancourt, became the largest shareholder of the petroleum company Pacific Exploration & Production Corporation by controlling 19.5 percent of its shares.[24]

By the end of August 2015 Betancourt increased his control over the shares of Pacific to 19.95% and was appointed director and member of the board. Betancourt publicly shared plans to expand the operations of the company and enter new markets to grow.[25][2]

BDK Financial Group

In June 2015 the BDK Financial Group, of which Alejandro Betancourt is a major shareholder, inaugurated the Banque de Dakar headquarters in Senegal.[26] The objective of the financial group is to offer banking services in French-speaking Africa. In March 2016 the group appointed Alfredo Sáenz Abad as president of the bank.[27]

O’Hara Administration

Betancourt leads the O’Hara administration group of international investors. The other key executive of the group as portfolio manager and director is Orlando J. Alvarado.[28]

The group currently holds 19.95% of Pacific Exploration & Production Corporation shares. In August 2016, O’Hara together with the Mexican investor Fernando Chico Pardo presented a restructuring bid for Pacific worth $575 million.[29] Betancourt fought off potential shareholders in a bid "to gain control of the company themselves", though when a deal with Mexico's ALFA fell through, Betancourt and his group lost 70% of their investment.[30]

Hawkers

In October 2017, Betancourt led a €50 million Series A funding round for the company, which was one of the largest financings in Spanish history at the time.[31] Hawkers appointed Alejandro Betancourt as its new president one month later.[32]

By 2018, he began opening physical stores for the brand, resulting in 60 brick-and-mortar locations by 2025.[31]

Betancourt is currently the largest shareholder of Hawkers. He has overseen the company’s new plan for expansion as well as its adjustment to the recession in Spain.[33][34]

Auro

Betancourt participated as a notable shareholder in the founding of Auro New Transport, a vehicle for hire company in Spain.[35] In November 2022, Uber and Cabify placed competitive bids of around 200 million euros to buy the company.[36]

North American Blue Energy Partners

Betancourt controls North American Blue Energy Partners (NABEP), which The Washington Post described in 2026 as the second-largest private oil company in Venezuela. The newspaper reported that NABEP had increased output from 18,000 barrels per day to nearly 200,000 barrels per day over the preceding two years, and that Betancourt had become a key intermediary between the United States and Venezuela, helping to broker early contracts to restart oil production in the country.[37]

On 28 August 2026, President Donald Trump announced an agreement under which the United States would take a controlling stake in a joint venture holding long-term contracts over a share of Venezuela's oil reserves. According to The Washington Post, NABEP would be the principal private Venezuelan participant in the arrangement.[37] The newspaper also reported that United States officials had lobbied during 2026 to resolve the Swiss money-laundering investigation into Betancourt in a way that would avoid criminal charges and end travel restrictions on him, that the United States had not acted on a Swiss warrant for his arrest, and that he had been permitted to enter the country repeatedly for meetings with the Trump administration. Betancourt has not been charged, and his attorney has denied that he was involved in money laundering.[37] The New York Times reported that NABEP is controlled by Betancourt's family, is registered in Barbados and produces around 200,000 barrels per day, and that it planned to take on up to $5 billion in debt to raise output to one million barrels per day within five years. The company's holdings originated in Petrozamora, a producer in mature fields in Lake Maracaibo in which Betancourt had acquired a stake, with further fields added later.[38] Under the announced arrangement, the Office of Strategic Capital of the United States Department of Defense would support development of 17 oil fields while NABEP led operations, and the State Department said the United States would receive 55 per cent of the joint venture's output; the United States would also hold the right to acquire shares in NABEP or a related entity through a warrant.[38] The newspaper reported that State Department officials had during 2026 pressed the Swiss government over its investigations into Betancourt and asked the British government to lift travel restrictions on him, and that the department had issued him a multiple-entry visa. It reported that his personal bank accounts had been under investigation by prosecutors in Zurich for more than a decade without his being formally charged, and quoted Sara Chouraqui, NABEP's general counsel, as saying that Betancourt "has never been charged with a crime in any jurisdiction".[38]

Personal life

Betancourt is a descendant of Hermógenes López, the former acting president of Venezuela.[39]

In 2024, Alejandro Betancourt was appointed Knight of the Order del Camino de Santiago.[8]

References

  1. ↑ "Alejandro Betancourt: «\'Venezuela tiene mucho potencial si la entiendes'" [Alejandro Betancourt: 'Venezuela has a lot of potential if you understand it']. ABC (in Spanish). 17 January 2014. Retrieved 13 July 2014.
  2. 1 2 Willis, Andrew; Kurmanaev, Anatoly; Kary, Tiffany (21 August 2015). "Man Who Spoiled Pacific Rubiales Oil Deal Has a Growth Plan". Bloomberg News. Retrieved 28 October 2015.
  3. ↑ Negre, Javier (12 December 2016). "Él es el rey venezolano de las gafas de sol de Elche" [He is the Venezuelan King of Elche sunglasses]. El Mundo (in Spanish). Retrieved 27 December 2016.
  4. ↑ Martín, María (17 August 2026). "Alejandro Betancourt, the under-investigation billionaire linking Delcy Rodríguez to Trump". El País (in Spanish). Retrieved 20 August 2026.
  5. ↑ González, Ángel (17 August 2016). "Alejandro Betancourt: de financiar el golpismo a pieza clave entre Washington y Caracas" [Alejandro Betancourt: from financing coups to key figure between Washington and Caracas]. La Jornada (in Spanish). Retrieved 20 August 2026.
  6. ↑ Bart, Katharina (8 October 2020). "Swiss Bank's Venezuela «Bolichico» Ties". finews. Retrieved 20 August 2026.
  7. ↑ Armengol, Luis. "Venezuela tendrá uno de los centros más innovadores de América del sur" [Venezuela will have one of the most innovative centers in South America]. Innovaspain. Retrieved 25 June 2014.
  8. 1 2 "Listado de caballeros y damas" (PDF). List of new members (in Spanish). Orden del Camino de Santiago. Retrieved 7 August 2024. Knight number 1559
  9. ↑ "Alejandro Betancourt, CEO Derwick". Alejandro Betancourt. Retrieved 2 July 2015.
  10. ↑ "DERWICK ASSOCIATES S.A." OpenCorporates. Retrieved 6 October 2014.
  11. 1 2 Penaloza, Pedro Pablo (10 March 2019). "Más de una década de corrupción e improvisación dejan a Venezuela a oscuras" [More than a decade of corruption and improvisation leave Venezuela in the dark]. Univision (in Spanish). Retrieved 2019-03-12.
  12. ↑ "La burguesía venezolana 'exilia' su dinero a España" [The Venezuelan bourgeoisie 'exiles' their money to Spain]. El Mundo (in Spanish). 7 April 2016. Retrieved 12 March 2019.
  13. ↑ "Venezuela: detrás del apagón, decadencia y corrupción" [Venezuela: behind the blackout, decadence and corruption]. www.lanacion.com.ar (in Spanish). 2019-03-08. Archived from the original on 2019-03-09. Retrieved 2019-03-12.
  14. ↑ Dube, Ryan and Maolis Castro (8 March 2019). "Venezuela blackout plunges millions into darkness; Maduro, without evidence, blames sabotage by local opponents and the U.S. for power outage". Wall Street Journal. Retrieved 10 March 2019. One company, Derwick Associates, formed by a number of well connected young businessmen with scant experience in the power business, received about $1.8 billion in contracts from Venezuelan state companies to buy and install turbines, paying a U.S. company about $1 billion to do the work. Derwick officials said they paid no bribes to any Venezuelan officials and the prices charged by the company reflected the high costs of doing business in Venezuela.
  15. ↑ "Thor Leonardo Halvorssen Mendoza sues Derwick, alleging corruption". Miami Herald. 27 March 2014. Archived from the original on 30 March 2014. Retrieved 4 April 2014.
  16. ↑ "Banesco desmiente el pago de $50 millones a Cabello a través de ese banco". El Nuevo Herald (in Spanish). Archived from the original on 1 April 2014. Retrieved 7 April 2014.
  17. ↑ "Corte de EEUU desestima acusación contra Derwick Associates" [US Court dismisses accusation against Derwick Associates]. Globovision (in European Spanish). 18 July 2015. Archived from the original on 15 June 2018. Retrieved 10 March 2019.
  18. ↑ "PDVSA-linked businessman López still under investigation, Swiss prosecutor says". MLex. Retrieved 24 July 2026.
  19. ↑ Dorta, Irene (8 December 2025). "La Audiencia Nacional investiga una red de blanqueo de millones desde Venezuela que implica al dueño de la marca de gafas Hawkers" (in Spanish). El País. Retrieved 8 December 2025.
  20. ↑ Flórez, Tono Calleja (24 September 2025). "La UDEF registra por orden de Pedraz las propiedades de un exviceministro de Chávez y de un empresario venezolano". El Periódico (in Spanish).
  21. ↑ Galvez, J.J. (27 March 2026). "Judge Pedraz closes the case against the owner of the Hawkers sunglasses brand for alleged money laundering". El País (in Spanish). Retrieved 6 April 2026.
  22. ↑ Dorta, Irene (2 June 2026). "La Audiencia Nacional obliga al juez Pedraz a reabrir la causa contra el venezolano dueño de las gafas Hawkers". El País (in Spanish).
  23. ↑ "Venezuelan tied to epic corruption case funneled millions into secretive Luxembourg companies". Miami Herald. 11 February 2021. Retrieved 24 July 2026.
  24. ↑ "Alfa Oil Dream Nears Reality as Pacific Rubiales Accepts Bid". Bloomberg News. 21 May 2015. Retrieved 26 May 2015.
  25. ↑ "Pacific Exploration & Production Announces Changes to its Board of Directors and Nomination Agreement with ALFA and the O'Hara Group". PR Newswire. 31 August 2015. Retrieved 28 October 2015.
  26. ↑ Navas, José Antonio (28 September 2015). "Alberto Cortina y Alex Betancourt ultiman la compra del Versus Bank en Costa de Marfil" (in Spanish). El Confidencial. Retrieved 15 March 2016.
  27. ↑ Navás, José Antonio (8 March 2016). "Sáenz adquiere un 5% del 'holding' africano de Alberto Cortina y Alejandro Betancourt" (in Spanish). El Confidencial. Retrieved 14 March 2016.
  28. ↑ "O'Hara Administration Co., S.A.: Private Company Information". Bloomberg Businessweek. Retrieved 5 October 2016.
  29. ↑ Willis, Andrew; Deveau, Scott (17 August 2016). "Mexico's Chico Pardo, O'Hara Said in Group Bid for Pacific E&P". Bloomberg Markets. Retrieved 5 October 2016.
  30. ↑ Schaefer Muñoz, Sara; Kurmanaev, Anatoly (19 April 2016). "Colombian Oil Producer Pacific Falls From Grace". The Wall Street Journal. Retrieved 27 April 2016.
  31. 1 2 "How Alejandro Betancourt López Transformed a Small Spanish Startup Into a Global Sunglasses Empire". The European Business Review. November 21, 2025.
  32. ↑ Valladares, Elena Campos. "Hawkers nombra presidente a Alejandro Betancourt". FashionNetwork.com (in Spanish). Retrieved 2016-12-27.
  33. ↑ "El Hormiguero y Pablo Motos se alían con Hawkers y Alejandro Betancourt". The World News (in Spanish). Archived from the original on 2019-12-16. Retrieved 2019-12-16.
  34. ↑ "El Hormiguero y Pablo Motos se alían con Hawkers y Alejandro Betancourt". La Region (in Spanish). 22 May 2019.
  35. ↑ lainformacion.com (2022-01-25). "Cabify amenaza con sanciones a VTCs que salieron alegando incumplimientos". La Información (in Spanish). Retrieved 2022-11-20.
  36. ↑ Marco, Agustín (2022-11-18). "Uber y Cabify lanzan ofertas millonarias por Auro, la VTC de los nuevos ricos españoles". elconfidencial.com (in Spanish). Retrieved 2022-11-20.
  37. 1 2 3 Halper, Evan; DeYoung, Karen; Faiola, Anthony; Schmidt, Samantha (August 28, 2026). "Trump says he has secured a vast U.S. stake in Venezuelan oil industry". The Washington Post. Retrieved August 29, 2026.
  38. 1 2 3 Elliott, Rebecca F.; Kurmanaev, Anatoly; Wong, Edward (29 August 2026). "Trump's Venezuelan Oil Deal Relies on a Powerful and Divisive Partner". The New York Times. Retrieved 30 August 2026.
  39. ↑ "Los petrodólares venezolanos que se esconden tras las gafas de Hawkers" (in Spanish). 28 November 2017. Retrieved 3 October 2019.
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