Alex Saab, a former high-ranking Venezuelan official accused in a U.S. case of siphoning off money from big government contracts, pleaded guilty on Tuesday to one count of money laundering and agreed to cooperate with investigators.

The plea in a federal court in Miami may prove a blow to former President Nicolás Maduro of Venezuela, Mr. Saab’s longtime ally, who is awaiting trial on drug charges in New York. Mr. Maduro was captured by the U.S. military earlier this year.

Federal prosecutors claim that Mr. Saab at one point controlled some of Mr. Maduro’s funds, raising speculation that they could use his plea to strengthen their case against Mr. Maduro.

On Tuesday, Judge Kathleen Williams read the key points of the 12-page agreement that led to Mr. Saab’s guilty plea. In it, he agreed to be “debriefed” by U.S. agents on his role in a sophisticated money laundering scheme. He also agreed to forfeit $195 million in cash and to help the government identify and recuperate undisclosed properties.

In return for the plea, the government recommended that Judge Williams impose a reduced sentence. The charge carries a sentence of up to 20 years in prison.

Four other people accused of conspiring with Mr. Saab were also indicted, but their names have not been made public.

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