Washington sanctions former Venezuelan intelligence chief

Washington on Monday slapped three Venezuelan officials — including a powerful former intelligence chief and convicted felon — with sanctions, accusing them of using their positions of power to run a drug trafficking, extortion and money laundering racket.

Among those named was Pedro Luis Martin Olivares, the former Chief of Financial Intelligence for Venezuela’s National Directorate of Intelligence and Prevention Services, which is now known as the Bolivarian National Intelligence Service, or SEBIN.

According to the U.S. Treasury’s Office of Foreign Assets Control, Martin Olivares took bribes from drug traffickers in exchange for shutting down military radar that might track them. He also facilitated shipments of cocaine from Colombia into Venezuela and helped sell the drugs to other drug trafficking organizations and corrupt Venezuelan officials.

“This action is in response to Martin’s extensive drug trafficking and money laundering activities. Systemic corruption and a collapse in the rule of law are defining features of Venezuela’s government,” Treasury Secretary Steven T. Mnuchin said in a statement. “We will deny corrupt Venezuelan regime officials access to the U.S. financial system as we work with international partners to support the Venezuelan people in restoration of democracy and a return to prosperity.”

Martin Olivares was indicted by a grand jury in Miami in 2015 for attempted drug trafficking and using a U.S. registered aircraft with the intent to distribute controlled substances in the United States. And he’s thought to be a key figure in the “Cartel de los Soles” — a drug trafficking ring allegedly run by Venezuela’s current and former military officials.

Also sanctioned in Monday’s action were Walter Alexander Del Nogal Marquez and Mario Antonio Rodriguez Espinoza, who were accused of working with Martin.

Treasury also designated 20 companies in Venezuela and Panama that are controlled by the three men, and which the government says were used to allegedly launder drug and extortion money.

The sanctions freeze the U.S.-based assets of the men and their companies, and generally prohibit U.S. citizens and residents from dealing with them.

Starting in 2015, the Obama and Trump administrations have sanctioned more than 60 Venezuelans, including President Nicolás Maduro. Washington has also hit Venezuela with broad financial sanctions as it’s pushing the Maduro administration to delay controversial and questioned presidential elections on May 20.

This story was originally published May 7, 2018 at 4:16 PM with the headline "Washington sanctions former Venezuelan intelligence chief."