Venezuela investigates sports stars in big currency scam

http://news.yahoo.com/venezuela-investigates-sports-stars-big-currency-scam-022852153--spt.html

CARACAS (Reuters) - Prosecutors in Venezuela are investigating members of its national motorsports teams for possible currency violations, officials said on Thursday, and the sports minister said tens of millions of dollars were claimed by people forging her signature.

A decade of currency controls has led to a shortage of dollars at the official rate of 6.3 bolivars, and huge profits for those who can access greenbacks and then resell them on the black market for about seven times that price.

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"There was just one racer who, in a year and half, was approved for $66 million," Benitez told the paper. "Just two of these drivers were claiming in a year what it costs us to take the whole team of more than 600 athletes (to an event)."

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Public anger over the latest allegations is fueled by the impression that well-connected individuals were able to use their position to profit from access to lucrative dollars.

Ordinary travelers now face random checks by officials at Venezuela's main international airport to see if their documents match their requests for Cadivi dollars.