Venezuelan President Nicolas Maduro Accused of Using Cryptocurrency for Drug Trafficking

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Venezuelan President Nicolas Maduro Accused of Using Cryptocurrency for Drug Trafficking
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Today, March 26th, the United States Department of Justice directly accuses Venezuela’s president Nicolás Maduro Moros, and 14 Venezuelan Officials including Joselit Ramirez Camacho, Venezuela’s Superintendent of cryptocurrency, of Narco-Terrorism, Corruption, Drug Trafficking, and Other Criminal Charges.

U.S. Attorney General William P. Barr announced a series of direct charges against President Nicolas Maduro and the main leaders of the Venezuelan regime, such as Padrino Lopez, Diosdado Cabello, Tareck El Aissami, among others offering a series of rewards for their captures.

The U.S. Department of State said in the formal statement that it was

 “offering rewards of up to $15 million for information leading to the arrest and/or conviction of MADURO MOROS, up to $10 million for information leading to the arrest and/or conviction of CABELLO RONDÓN, CARVAJAL BARRIOS, and ALCALÁ CORDONES, and up to $5 million for information leading to the arrest and/or conviction of MARÍN ARANGO”

The formal accusation claims that Joselit Ramirez Camacho, Superintendent of Cryptocurrencies (Sunacrip) worked with Tareck El Aissami to provide private flight services for the benefit of Maduro’s 2018 presidential campaign, in violation of OFAC’s sanctions.

Ramirez was appointed Superintendent of cryptocurrencies on June 20, 2018, replacing Carlos Vargas, who is known to be the driving force behind cryptocurrencies in Venezuela, and the first Superintendent of SUNACRIP in Venezuela.

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Alysa D. Erichs, special agent in charge of Homeland Security Investigations (HSI), explained in a press conference that senior leaders of the Venezuelan government are using cryptocurrencies to carry out their illegal acts of drug trafficking, money laundering and activities associated with terrorism.

It is unclear whether Agent Erichs is referring to cryptos in general or the national cryptocurrency “Petro“, backed by oil and monitored directly by Sunacrip, an entity created by the government to regulate the digital currency and of which Ramirez has the highest position, this cryptocurrency is promoted by the government as a medium of payments in national and international transactions to other countries as a measure to evade the economic sanctions imposed by the administration of Donald Trump.

The Department of Justice said on Twitter that Nicolas Maduro’s government is plagued by a large network of criminality and corruption, which uses its allies in the “Revolutionary Armed Forces of Colombia (FARC)” and high ranking government officials to send drugs to the United States.

Since there’s a legal premise that every person is innocent until proven guilty, there is no other option for the Venezuelan people but to wait and see if this search and capture is carried out or if someone will even be able to collect one of these rewards since unlike other top criminals, who are usually off the grid, all those named in the previous list are seen daily walking around Venezuela under public eye…

And everybody knows where they are.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.