WASHINGTON—The U.S. indicted a Colombian businessman and sanctioned his firms over accusations he ran global money-laundering operations that diverted hundreds of millions of dollars of state funds into overseas accounts for the Venezuelan regime, including through an emergency food program.

The coordinated action against Alex Saab Morán’s network on Thursday was part of the Trump administration’s broader effort to pressure Venezuelan leader Nicolás Maduro into handing power over to the opposition by cutting off revenue to...