Published: Oct 27, 2010 4:42 PM EDT
Updated: Oct 27, 2010 1:42 PM EDT

MIAMI (AP) - A Venezuelan is jailed in the U.S. on charges of attempting to extort $1.5 million from a businessman involved in a securities controversy in Venezuela.

Prosecutors say 61-year-old Rafael Ramos De La Rosa faces a bail hearing Wednesday in Miami federal court. Court records did not list an attorney for Ramos.

The case involves businessman Tomas Vasquez and his former securities firm that was taken over by a Venezuelan securities commission. Prosecutors say Ramos was appointed receiver of the company. Ramos allegedly told Vasquez if he didn't pay the money his reputation would be ruined and Vasquez might face arrest in Venezuela.

Authorities say Ramos was arrested last week by the FBI in Miami carrying a $750,000 check, part of the Vasquez payment.