Juan Pablo Segura, the newly appointed head of U.S. policy for Latin America, the Caribbean, and Canada, has leveled serious accusations against GAESA, the Cuban military conglomerate. He claims they have embezzled $18 billion from the Cuban people, highlighting a lack of oversight from the General Comptroller over GAESA's operations.
The U.S. Assistant Secretary of State for Western Hemisphere Affairs made this bold statement on Wednesday via a post from his office's official account on X. He referenced past statements made by Gladys Bejerano, Cuba's former Comptroller General, in 2024.
The Unchecked Power of GAESA
Segura pointed out that Bejerano, who served as Cuba’s Vice President and Comptroller General for 14 years, was dismissed by the Cuban regime for publicly acknowledging, "the State had no jurisdiction to audit GAESA." Segura asserted this was merely one way GAESA has siphoned off $18 billion meant for the Cuban populace.
Bejerano, who led the Comptroller from its inception in 2009 until July 2024, confirmed in a May 2024 interview with EFE that GAESA was not subject to the Comptroller's scrutiny. She justified this by calling attention to the conglomerate's "superior discipline and organization," claiming her agency focused its efforts where progress was deemed necessary.
Political Fallout and Financial Revelations
Just two months after her interview, Bejerano was replaced as Comptroller General, following more than 14 years of service. Segura now attributes her removal directly to her comments about GAESA, despite Cuban authorities framing her departure as part of a "natural process of cadre renewal."
Segura's accusation carries extra weight as he is just stepping into his role, having been confirmed by the Senate last Friday. He is now the leading State Department official responsible for policy toward Latin America, the Caribbean, and Canada.
The $18 billion figure that Segura cites aligns with an investigation by the Miami Herald, originally published in August 2025. This investigation was based on leaked internal financial documents from GAESA, revealing the conglomerate's vast resources.
Investigative Insights Into GAESA's Finances
The Miami Herald obtained 22 financial statements from GAESA's internal accounting system, covering March and August 2024, with some documents including 2023 data for comparison. The investigation found that by March 2024, excluding CIMEX assets, the companies analyzed held approximately $18 billion in assets easily convertible to cash. The report placed current assets at around $17.8 billion.
Of this amount, about $14.5 billion was held in bank accounts or financial institutions under GAESA's control. The files included balance sheets, income statements, sales, and profits from companies within the military conglomerate.
The analysis showed that GAESA maintained $14.467 billion in bank deposits in March 2024, representing 76% of its total liquidity. Companies such as Gaviota, CIMEX, TRD Caribe, and Almacenes Universales were among those scrutinized.
The Miami Herald's findings highlighted the vast resources managed by GAESA and the absence of institutional oversight, with Segura now framing the $18 billion as funds "embezzled" from the Cuban people. These revelations also raised questions about Havana's external debts, as GAESA's accumulated funds put the Cuban government's repeated claims of liquidity shortages under scrutiny.
Moreover, pressure from Washington regarding these resources has intensified throughout 2026. In early August, the State Department publicly questioned why GAESA does not use its substantial funds to address the needs of the Cuban population, reiterating the $18 billion financial reserve revealed by leaked documents.
Key Questions About GAESA's Financial Activities
What is GAESA accused of by the U.S. official?
GAESA is accused by Juan Pablo Segura of embezzling $18 billion from the Cuban people, with a lack of oversight from the General Comptroller being a contributing factor.
Why was Gladys Bejerano removed from her position?
Segura suggests Bejerano was removed due to her public statements about GAESA's lack of audit oversight, although Cuban authorities claimed it was part of a routine leadership renewal.
What did the Miami Herald's investigation reveal about GAESA?
The investigation revealed that GAESA managed around $18 billion in assets easily convertible to cash, with a significant portion held in bank deposits, raising concerns about oversight and financial transparency.