Saab has agreed to cooperate with the US justice system and its investigations into corruption, and is thus subject to a lower prison sentence than the maximum term of 20 years in prison for the money laundering offence.
Alex Saab was a former Minister of Industry in Venezuela. He was a close ally of Nicolás Maduro, was removed from his position as minister and extradited from Venezuela to the United States in May this year.
Saab, born in Colombia, has previously been convicted in the United States.
