Orlando Castro Llanes (October 30, 1925 - February 25, 2014) was a Venezuelan businessman whose financial empire of banks and insurance agencies collapsed in 1994 and was subsequently convicted and imprisoned in the United States. From Communist to capitalist He was born in Havana, Cuba, in 1925, and became active in politics. He was head of a wing of Cuba’s Communist Party until after the 1959 Cuban Revolution, when he allegedly quarrelled with Fidel Castro and left the country. He moved to Venezuela, where he became an insurance salesman. He was successful at this, and rose to control a conglomerate of insurance companies, banks, real estate, radio stations and newspapers. He was reputed to be one of the wealthiest men in Venezuela. His Grupo Empresas Latinoamericanas included the Banco Progreso in Venezuela, the Banco Progreso Internacional de Puerto Rico, and the Banco Latinoamericana in the Dominican Republic. The fight over Banco de Venezuela In 1990, he bought a large block of shares in the prestigious Banco de Venezuela (BdV), a bastion of Caracas's old-money elite, and tried to get on its board of directors. However, according to Castro, he was never accepted in exclusive political and economic circles and was considered unfit by the Venezuelan elite to lead the country’s most important banking institution. At a stockholders' meeting, when Castro wanted a seat on the board, BdV's chairman suspended the meeting and muffled Castro's protest by shutting off his microphone. Castro now attempted a hostile takeover of BdV, which was bitterly contested by BdV's management. He worked through his subsidiary Grupo Progreso Latinoamericana, supported by Banco Consolidado of José Alvarez Stelling, and Grupo Banco Unión. A small group of shareholders, all members of the Caracas Country Club, joined with the Banco Provincial, the powerful industrial group Grupo Polar, and Finalven to oppose the takeover. BdV hired Thor Halvorssen Hellum, Special Commissioner for International Narcotic Affairs in the administration of President Carlos Andrés Pérez, to investigate rumors of money laundering by Castro. Halvorssen concluded that Castro was laundering drug money and was involved in other financial irregularities. He gave his information to friendly members of the Venezuelan Congress, who had parliamentary immunity. Castro’s allies started a media campaign to discredit Halvorssen. Money laundering accusations In March 1991, after the allegations of money laundering were made public, the US Customs Service froze Banco Progreso accounts at Bank of America International in New