US Proposes $5 M Price for Venezuelan Crypto Leader Arrest

By stvleong | Steven Leong | 3 Jun 2020

The U.S. government wants the head of Venezuela's crypto-currency initiative, the petro, on charges of corruption and links to the narcotics trade.


On Monday, Immigration and Customs Enforcement (ICE) added Joselit Ramirez Camacho to its Most Wanted List, accusing him of a number of international trade violations and his alleged involvement in the international drug trafficking scene.

Ramirez Camacho is a public official and serves as the superintendent of the petro initiative in Venezuela, a cryptocurrency supposedly backed by the oil and mineral reserves in the country.

ICE's Homeland Security Investigations (HSI) arm wants the superintendent to violate the International Emergency Economic Powers Act and the Kingpin Act, and to break a series of sanctions imposed by the Treasury Department.

ICE provides up to $ 5 million for any information leading to his arrest and conviction.

Ramirez Camacho is "accused of having extensive political , social and economic links to several suspected drug kingpins, including Tareck EI Aissami," a former Venezuelan vice president also wanted by ICE on charges of money laundering and a suspected involvement in foreign drug trafficking.

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If convicted, Ramirez Camacho will be returned to the United States and trialed in New York 's Southern District.

Last month, New York District Attorney Geoffrey Berman accused him of being part of a corrupt group of high-ranking Venezuelan officials – including President Nicolas Maduro – running a "narco-terrorism partnership" intended to flood "the United States with cocaine to undermine the health and well-being of our country."


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Steven Leong
Steven Leong

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