A former official of the Venezuelan state-owned oil company Petróleos de Venezuela, S.A.("PDVSA") pleaded guilty to participating in a money laundering scheme involving bribes paid by owners of U.S.-based companies to PDVSA officials.
The defendant, a dual U.S.-Venezuelan citizen, was arrested in Spain last year and then extradited to the U.S. after a federal grand jury indicted him along with other PDVSA officials. He pleaded to one count of conspiracy to violate the Foreign Corrupt Practices Act and one count of conspiracy to commit money laundering.
In accordance with the plea agreement, the defendant admitted to soliciting and accepting bribes from owners of energy companies based in the U.S. and elsewhere. He also admitted to channeling a portion of the bribes to PDVSA officials in order to offer the U.S. companies unfair advantages with PDVSA, including (i) winning business from PDVSA and (ii) receiving payment priority over other PDVSA vendors. Sentencing is scheduled for September 24, 2018.
Twelve individuals have pleaded guilty as part of an ongoing investigation into bribery at PDVSA, including a former general manager of PDVSA's procurement subsidiary.
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