The U.S. is considering sanctions against Wall Street billionaire David Martinez as part of its effort to topple Nicolas Maduro's regime by cutting off its access to financing, according to three people familiar with the matter.
Treasury Department officials have also discussed naming Martinez, the founder of the Delaware-domiciled hedge fund Fintech Advisory Inc., as a specially designated national for his business dealings with sanctioned Venezuelan officials, including Finance Minister Simon Zerpa and Economy Vice President Tareck El Aissami, two of the people said, asking not to be identified because the information is private. Martinez visited Caracas as recently as December to pitch deals that would ease the government's cash squeeze.
An SDN label on Martinez, a Mexican national who also holds British citizenship and spends much of his time in New York, could restrict his travel and limit his access to U.S. bank accounts, among other repercussions. He's the sole owner of Fintech, which has an office on Manhattan's Park Avenue, regulatory filings last year showed.