OFAC designated a Colombian national and a "vast corruption network" for aiding Venezuelan leader Nicolás Maduro and his regime to profit from a Venezuelan food subsidy and distribution program.
According to OFAC, Alex Nain Saab Moran, with the help of business partner Alvaro Enrique Pulido Vargas, created a network of front and shell companies that profited illicitly from involvement in Venezuela's food subsidy and other social programs. According to OFAC, the network of shell companies "laundered hundreds of millions of dollars in corruption proceeds around the world." Mr. Maduro's three stepsons were also sanctioned for allegedly funneling money in exchange for access to contracts with the Government of Venezuela, including its food subsidy program.
All property and interests in property of these individuals, as well as any entities that owned 50 percent or more by them, that are in the United States or are in the possession or control of U.S. persons, are now blocked and must be reported to OFAC. Additionally, OFAC regulations generally prohibit any dealings by U.S. persons, or within the United States, that involve these individuals, their property or interests in property.
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