Yesterday, OFAC designated Venezuelan national Pedro Luis Martin Olivares as a significant narcotics trafficker pursuant to the US Kingpin Act. He is a “former Chief of Financial Intelligence for Venezuela’s National Directorate of Intelligence and Prevention Services” (now known as the Bolivarian National Intelligence Service). OFAC also designated Walter Alexander Del Nogal Marquez and Mario Antonio Rodriguez Espinoza for materially assisting/supporting the “international narcotics trafficking activities of [Mr Martin Olivares]”. OFAC further designated 20 companies in Venezuela and Panama that are “owned or controlled by these three individuals” and which are “allegedly [being] used to launder illicit proceeds from both narcotics trafficking and extortion”. As a result, asset freezing measures have been imposed on all of the designated individuals and entities. Links to OFAC Notice and US Treasury press release.