(Updates with new details on defendant, analysis and background)
By Darcy Crowe
Of DOW JONES NEWSWIRES
CARACAS (Dow Jones)--A money laundering case has prompted U.S. authorities to freeze an umbrella account used by dozens of brokers in Venezuela for currency trading, bringing the South American nation's so-called parallel currency market to a halt.
The seizure in unofficial currency market trading threatens to badly hamstring Venezuela's import-dependent economy.
The U .S. District Court of Massachusetts has charged one of the managers of the account for allegedly wire transferring $900,000 in proceeds from "dealing in a controlled substance," according to court documents.
Prosecutors are charging Rama K. Vyasulu, an apparent representative for the umbrella account that Venezuelan traders said was managed by Florida-based Rosemont P. Corporation, also known as Rosemont Money Services.
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