MIAMI>> The United States freed a close ally of Venezuelan President Nicolás Maduro in exchange for the release of 10 Americans imprisoned in the South American country and the extradition of a fugitive defense contractor known as “Fat Leonard” who is at the center of a massive Pentagon bribery scandal, the Biden administration announced Wednesday.

The deal represents the U.S. government’s boldest bid to improve relations with the major oil-producing nation and extract concessions from the self-proclaimed socialist leader. The largest release of American prisoners in Venezuela’s history comes weeks after the Biden administration agreed to suspend some sanctions, after a commitment by Maduro and an opposition faction to work toward free and fair conditions for the 2024 presidential election.

The release of Alex Saab, a Maduro associate who was arrested on a U.S. warrant for money laundering in 2020 and long was regarded as a criminal trophy by Washington, is a significant concession to the Venezuelan leader. U.S. officials said the decision to grant him clemency was difficult but essential to bring home jailed Americans, a core administrative objective that in recent years has resulted in the release of criminals who once once been seen as untradeable. The deal also guarantees the release of 10 Americans who had been held in Venezuela, including six who have been designated by the U.S. government as wrongfully detained.

“These individuals have lost far too much precious time with their loved ones, and their families have suffered every day in their absence. I am grateful that their ordeal is finally over, and that these families are being made whole once more,” President Joe Biden said in a statement.

Venezuela’s government described Saab as “a victim” of “illegal detention” and characterized his release as a “symbol of victory” achieved through the country’s “peaceful diplomacy.” The government, in a statement, urged the U.S. to remove all sanctions against Venezuela.

The agreement also will result in the extradition of Leonard Glenn Francis, the Malaysian owner of a ship-servicing company in Southeast Asia who is the central character in one of the largest bribery scandals in Pentagon history.

The 6-foot-3 Francis, who at one time weighed 350 pounds and was nicknamed “Fat Leonard,” was arrested in a San Diego hotel nearly a decade ago as part of a federal sting operation. Investigators say he and his company, Glenn Defense Marine Asia, bilked the Navy out of more than $35 million by buying off dozens of top-ranking Navy officers with booze, sex, lavish parties and other gifts.

The case, which delved into salacious details about service members cheating on their wives and seeking out prostitutes, was an embarrassment to the Pentagon. Three weeks before he faced sentencing in September 2022, Francis made an escape as stunning and brazen as the case itself as he snipped off his ankle monitor and disappeared. He was arrested by Venezuelan police attempting to board a flight at an airport outside Caracas and has been in custody since.

The exchange also would be seen as a major U.S. concession to Maduro, likely angering hard-liners in the Venezuelan opposition who have criticized the White House for standing by as the leader of the OPEC nation repeatedly has outmaneuvered Washington after the Trump administration’s campaign to topple him failed.

In October, the White House eased sanctions on Venezuela’s oil, gas and mining industries but threatened to reimpose the restrictions if Maduro, by Nov. 30, did not live up to his promise to pave the way for free and fair elections next year. He is seeking in 2024 to add six years to his decade-long, crisis-ridden presidency. That deadline has passed and so far Maduro has failed to reverse a ban blocking his chief opponent, María Corina Machado, from running for office.

Biden told reporters earlier in the day that, so far, Maduro appeared to be “keeping his comment on a free election.”