Two prominent figures associated with the British polo community have been named in a United States Treasury notice alleging links to a network that handled proceeds from the secret sale of Venezuelan crude oil.

The allegations were included in a regulatory notice issued by the US Treasury’s Financial Crimes Enforcement Network, which outlined concerns about the activities of Zurich-based MBaer Merchant Bank.

The notice proposes designating the now-defunct institution as a financial entity of primary money-laundering concern due to its alleged involvement in facilitating illicit transactions tied to sanctioned actors and corruption networks.

According to the document, the bank’s former vice-chair, Siri Evjemo-Nysveen, is alleged to have used her position to assist in processing payments connected to a scheme involving Venezuela’s state oil company, Petróleos de Venezuela, known as PDVSA.

The notice states that the transactions were reportedly carried out on behalf of her husband, Italian businessman Alessandro Bazzoni, who had previously been sanctioned by the United States in 2021 for allegedly providing support to networks trading Venezuelan oil.

Both Evjemo-Nysveen and Bazzoni are well known in England’s polo circles, where wealthy patrons commonly sponsor and play for professional teams.

Bazzoni has acted as patron of the Monterosso polo team, while Evjemo-Nysveen has supported a team known as Vikings.

The Treasury notice alleges that millions of barrels of Venezuelan crude were secretly sold in ways that circumvented US sanctions imposed on PDVSA.

It states that proceeds from those sales were allegedly diverted through financial channels linked to the Swiss bank.

The same notice also refers to José Luis Chávez Calva as a figure who authorities claim played a role in moving funds connected to the network through European financial institutions.

The individuals named in the document have strongly rejected the allegations.

Representatives for Bazzoni and Evjemo-Nysveen said references in the notice rely on disputed sources and emphasised that Bazzoni was later removed from the US sanctions list.

They said he expects to be cleared again if the claims are reviewed further, and they noted that no investigative action has been taken against Evjemo-Nysveen by American or Swiss authorities in relation to the accusations.

Chávez Calva has also denied any wrongdoing, stating that he has no criminal convictions in any jurisdiction and that any financial accounts connected to the bank were held for legitimate purposes.

The scrutiny comes after Switzerland’s financial regulator revoked MBaer Merchant Bank’s licence in early 2026, citing failures in the institution’s anti-money-laundering controls.

The bank subsequently entered liquidation, intensifying international attention on its past transactions and relationships.

Authorities have not announced any criminal charges linked to the case in the United Kingdom or Switzerland.

Investigations into financial networks associated with Venezuelan oil sales continue to draw global attention as regulators examine how sanctions-restricted transactions may have been routed through international banking systems.