Gorrin has one year to divest his shares in Globovision, Venezuela’s largest private broadcaster [File: Leslie Mazoch/AP Photo]

The United States has imposed sanctions on a Venezuelan media magnate close to President Nicolas Maduro’s government for allegedly running a currency exchange network it said siphoned $2.4bn to corrupt government insiders.

The US Treasury Department made the announcement on Tuesday, giving Raul Gorrin one year to divest his shares in Globovision, Venezuela’s largest private

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