But a Tachira state judge dismissed the arrest warrants and the courts took no action on a GOV appeal during 1995. The GOV and Venezuelan courts made no other significant arrests or prosecutions for money laundering in 1995. The 1993 Organic Drug Law established procedures for the seizure of assets from narcotics traffickers. However, coordination problems between the judiciary and the executive branch over the disposal of assets have impeded effective use of such provisions. Extradition and Mutual Legal Assistance.
Venezuelan law prohibits extradition of nationals.
The GOV reserved its ratification of the extradition articles of the 1988 UN Convention. The 1993 Organic Drug Law makes no changes to the extradition law, but does provide for the loss of citizenship by naturalization and expulsion of foreign nationals convicted of narcotics offenses. An extradition treaty has been in effect with the U.S. since 1923. In practice, the GOV has generally cooperated with legal assistance requests from other governments. In March 1995, Venezuela signed a Mutual Legal Assistance Agreement with the U.S. to facilitate investigation and prosecution of banking fraud and other crimes associated with the 1994 financial collapse of leading Venezuelan banks.