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Guatemala’s Financial Sanctions List Expanded: US Targets Key Figure in Corruption Scandal
The US Treasury Department’s Office of Foreign Assets Control (OFAC) has added a high-ranking Guatemalan official to its financial sanctions list for his role in widespread bribery schemes and corruption.
The Designated Individual
Luis Miguel Martinez Morales, the former head of the now-defunct Centro de Gobierno, was designated under Executive Order 13818, which targets individuals responsible for serious human rights abuse and corruption. Martinez is accused of influencing government contracts to benefit himself and close associates, as well as soliciting kickbacks in exchange for securing government business.
Corruption Scandal Rocks Guatemala
Martinez’s designation marks the latest development in a long-standing corruption scandal that has plagued Guatemala. The Guatemalan people have spoken out against the corrupt practices of their government officials, and international pressure has mounted on President Alejandro Giammattei to take action.
Key Facts About the Corruption Scandal:
- Widespread bribery schemes and corruption have affected various sectors in Guatemala
- International pressure has been mounting on President Alejandro Giammattei to address the issue
- The Guatemalan people have spoken out against corrupt government practices
US Commitment to Addressing Corruption
The US government has taken steps to address corruption in Guatemala, including imposing visa restrictions on individuals involved in undemocratic acts. The Department of State has also used a range of tools to promote accountability for corrupt actors in the country.
US Efforts to Combat Corruption:
- Imposing visa restrictions on individuals involved in undemocratic acts
- Using various tools to promote accountability for corrupt actors
- Collaborating with international partners to address corruption
Sanctions Implications
As a result of Martinez’s designation, all property and interests in property owned by him that are in the United States or in the possession or control of US persons are blocked and must be reported to OFAC. Any entities owned 50% or more by Martinez are also subject to sanctions.
Key Sanctions Implications:
- All property and interests in property owned by Martinez are blocked
- Entities owned 50% or more by Martinez are subject to sanctions
Global Magnitsky Human Rights Accountability Act
Martinez’s designation is part of the US government’s broader effort to combat human rights abuse and corruption worldwide. The Global Magnitsky Human Rights Accountability Act aims to impose tangible consequences on those who commit serious human rights abuse or engage in corruption, protecting the financial system of the United States from abuse by these individuals.
The Global Magnitsky Act:
- Aims to impose consequences on those who commit human rights abuse or engage in corruption
- Protects the US financial system from abuse by individuals involved in human rights abuses