Switzerland freezes over USD 880 million linked to Nicolás Maduro and his entourage

Bern. – The Swiss government announced the freezing of assets worth over 880 million dollars related to the environment of the former Venezuelan president Nicolás Maduro, as part of measures aimed at protecting the integrity of its financial system. Swiss authorities reported that the decision was made under the legal framework that allows the blocking of assets of politically exposed persons when there are suspicions about the illicit origin of the funds. The resources will remain frozen while the corresponding investigations are carried out to determine their origin. According to the official statement, the frozen assets include bank accounts and other financial instruments identified by intermediaries of the Swiss banking system. The authorities indicated that the measure seeks to prevent the possible transfer or dispersal of these assets while their legal status is clarified. Switzerland recalled that it has maintained for several years sanctions and financial restrictions linked to the Venezuelan crisis, aligned with international provisions aimed at combating corruption and money laundering.

We recommend reading:Nicolás Maduro and Cilia Flores will appear before the New York court on March 26

The Swiss government indicated that, if the illicit origin of the funds is confirmed, they could be subject to restitution processes for the benefit of the Venezuelan people, in accordance with current legislation. The decision represents one of the largest asset freezes related to Venezuelan political figures in European territory and comes in a context of increasing international scrutiny over the capital linked to the environment of the former ruler.