Trouble piles up for Maduro: Switzerland freezes assets of Venezuelan president after US arrest

Switzerland froze any assets held in the country by Venezuela's Nicolas Maduro and associates, the governing Federal Council said on Monday, following his arrest by US forces in Caracas and transfer to the United States.The measure, effective immediately and valid for four years, aimed to prevent an outflow of potentially illicit assets and came in addition to existing sanctions imposed on Venezuela since 2018, the statement said.The asset freeze did not affect members of the current Venezuelan government, and Switzerland said it would seek to return any funds found to be illicitly acquired to benefit the Venezuelan people, Reuters reported.The Federal Council said the situation in Venezuela was volatile, with various outcomes possible in the coming days and weeks. It said it was following the situation closely, and called for de-escalation and restraint, while also offering its good offices to find a peaceful solution."The Federal Council wants to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation," it said.The asset freeze was a precautionary measure and applied to Maduro and his associates as foreign politically exposed persons, the government said.No figures were given and the government did not immediately reply to a request for comment on what, if any assets, Maduro and his associates, held in Switzerland.Meanwhile, Venezuelan President Maduro, along with his wife, Cilia Flores, was expected to appear at noon for a brief but required legal proceeding after they were jailed in Brooklyn following their seizure by the US military from their Caracas home in a surprise raid. As a criminal defendant in the US legal system, Maduro had the same rights as any other person accused of a crime including the right to a trial by a jury of regular New Yorkers. Maduro’s lawyers were expected to contest the legality of his arrest, arguing that he was immune from prosecution as a sovereign head of state.