The detention of 10 officials and 11 businessmen is just the beginning of what is being called one of the most lurid plots in recent years, involving a range of corrupt activities.

The investigation has focused on the state oil company, PDVSA, as well as a government entity supervising crypto currency operations and the judiciary. While the investigation has been ongoing since October, it has only recently led to the resignation of the country’s oil minister, Tareck El Aissami, who had served the government for two decades.

According to Attorney General Tarek Saab, the investigation has revealed a web of corruption involving officials, businessmen, and young people, including the so-called mafia women, who participated in corruption and money laundering. Saab also highlighted the role of a Venezuelan entity supervising the use of crypto currency, which was assigned oil cargoes for sale with no administrative control, resulting in many buyers not paying for the oil correspondingly.

Additionally, PDVSA has accumulated $21.2 billion in commercial accounts receivable since 2020, including $3.6 billion potentially unrecoverable, after turning to dozens of little known intermediaries to export its oil under U.S. sanctions. This has further complicated the situation and highlighted the need for reform within the company.

The 21 individuals arrested are facing a range of charges, including appropriation of public assets, money laundering, influence peddling, and criminal association. The attorney general also noted that officials involved could potentially face charges of treason.

In response to the ongoing investigation, President Nicolas Maduro has appointed Pedro Tellechea as the new oil minister, delegating in him the supervision of the entire industry. However, this move alone may not be enough to address the underlying issues of corruption within Venezuela’s government and institutions.