A former manager at Vitol Group, the world’s largest oil-trading firm, was indicted for allegedly bribing Ecuadorian government officials to get business for his firm with state-owned Petroecuador.
The case, part of a broad U.S. probe into bribes paid to South American officials, is the latest to sweep up the Swiss oil-trading giant. Last year, a former Petroleo Brasileiro SA oil trader who went by the code name “Phil Collins” told a Brazilian judge he received bribes from Vitol to favor the firm in contracts.
U.S. prosecutors allege that Javier Aguilar of Houston, who was previously charged in a sealed criminal complaint and arrested, made $870,000 in illicit payments to Ecuadoran officials so they would help him obtain a $300 million fuel-oil contract with Petroecuador.
The original full article can be found at bloomberg.com
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