United States: Businessman Sentenced for Foreign Bribery and Money Laundering Scheme Involving PetroEcuador Officials

An Ecuadorian businessman living in Miami was sentenced today to 35 months in prison for his role in a $4.4 million bribery and money laundering scheme that funnelled bribes to then-public officials of Empresa Pública de Hidrocarburos del Ecuador (PetroEcuador), the state-owned and state-controlled oil company of Ecuador.

Nicholas L. McQuaid, Acting Assistant Attorney General of the Justice Department’s Criminal Division and George L. Piro, Special Agent in Charge of the FBI’s Miami Field Office made the announcement.

According to his plea, Armengol Alfonso Cevallos Diaz, 58, admitted that from 2012 through 2015 he conspired to solicit, intermediate, and pay bribes of $4.4 million from an oil services company and companies associated with or controlled by Cevallos to PetroEcuador officials by using U.S.-based companies and U.S.-based bank accounts in order to obtain and retain business from PetroEcuador. Cevallos also admitted to conspiring to conceal and promote the bribe scheme by laundering the funds through Miami-based shell companies and bank accounts that were used to acquire properties in the Miami area for the benefit of certain PetroEcuador officials.

The original full article can be found at justice.gov

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