June 27, 2019

OFAC sanctions two officials for their roles in the Venezuelan Ministry of Electric Power and the state-owned electricity company

The Office of Foreign Assets Control of the US Department of the Treasury has designated Luis Alfredo Motta Dominguez, who served as President of the Venezuelan National Electric Corporation (Corpoelec) and Minister of Electric Power until March 2019, and Eustiquio Jose Lugo Gomez, currently the Deputy Minister of Finance, Investments and Strategic Alliances for the Ministry of Electric Power, pursuant to Executive Order 13692, as amended, for exploiting the public trust and plundering Venezuelan assets.  As a result of the designations, all US property owned by the two individuals is blocked, and US persons are prohibited from engaging in transactions involving such property.

In a separate action, the US Department of Justice indicted both Motta and Lugo, charging them with laundering the proceeds of corruption, including violations of the Foreign Corrupt Practices Act.  On June 24, 2019, two businessmen pleaded guilty in US District Court for the Southern District of Florida to FCPA conspiracy charges related to the same conduct.