[2] In March 2015, El Mundo reported him as part of a group of senior Venezuelan government officials with accounts at the Banco Madrid and Banca Privada d'Andorra, with savings in dollars which pointed to him having received commissions.
In 2016, deputies of the National Assembly of Venezuela questioned the external advisor of the Brazilian company Odebrecht for the then four-year delay of the Tocoma Dam, and subsequently declared seven former electricity ministers politically responsible: Rafael Ramírez, Alí Rodríguez Araque, Jesse Chacón, Argenis Chávez, Javier Alvarado and Nervis Villalobos.
[3] In March 2016, an article of the web portal Sumarium indicated that in February the Anti-Corruption Prosecutor's Office of Spain had opened an investigation into Villalobos, former President Duro Felguera, and Juan Carlos Torres Inclán, for international bribery.
[1][4] On 13 September 2018 El País reported that Villalobos was prosecuted by a court in Andorra for his link to money laundering in a banking establishment and membership in a network which between 2007 and 2012 collected bribes from companies that later benefited from millionaire awards from PDVSA.
[5] In March 2021, the Swiss Federal Administrative Court refused to grant Villalobos and his family a residency permit, considering him a "threat to public safety and a risk to the reputation of the nation".