Venezuela - Corruption at the top

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dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

Venezuela - Corruption at the top

Post by dan_s »

Ex-Venezuelan exec pleads guilty to money laundering . E&E News .

The former executive director of financial planning for Venezuela's state-owned oil firm has admitted to participating in a high-profile money laundering and embezzlement scheme. As part of his plea to the U.S. District Court for the Southern District of Florida, Abraham Edgardo Ortega said he accepted $5 million in embezzled funds to help shareholders in joint ventures with Petróleos de Venezuela SA, the Justice Department announced yesterday. A total of $1.2 billion has been stolen from the oil giant. Ortega also admitted to receiving $12 million in bribes to take part in a scheme to embezzle funds from the company and to laundering that money through a false investment fund, according to DOJ. Other conspirators in the embezzlement and money laundering plans were indicted on Aug. 16. Ortega's sentencing is scheduled for Jan. 9, 2019.
Dan Steffens
Energy Prospectus Group
jmwSeattle
Posts: 16
Joined: Wed Jan 16, 2019 10:34 pm

Re: Venezuela - Corruption at the top

Post by jmwSeattle »

Nothing yet on Ortega’s fate, but this came up——

“An international banker who catered to mega-rich Venezuelans was sentenced to 10 years in prison by a Miami federal judge Monday for his supporting role in a massive $1.2 billion money-laundering scheme involving stolen funds from Venezuela’s government.”

https://www.miamiherald.com/news/local/ ... 81125.html
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