An Ecuadorian businessman living in the US state of Florida pleaded guilty in connection with a $4.4 million bribery and money laundering scheme that funneled cash to officials of Ecuador's state-controlled oil company in exchange for lucrative contracts, the Justice Department said in a press release on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 24th January, 2020) An Ecuadorian businessman living in the US state of Florida pleaded guilty in connection with a $4.4 million bribery and money laundering scheme that funneled cash to officials of Ecuador's state-controlled oil company in exchange for lucrative contracts, the Justice Department said in a press release on Thursday.
"Armengol Alfonso Cevallos Diaz (Cevallos), 57, pleaded guilty before US District Judge Rodney Smith of the Southern District of Florida to one count of conspiracy to violate the Foreign Corrupt Practices Act (FCPA) and one count of conspiracy to commit money laundering," the release said. "Sentencing is scheduled for April 2, 2020."
Cevallos admitted at the plea hearing that, from 2012 through 2015, he conspired with others to pay bribes of $4.4 million to PetroEcuador officials by using US-based companies and US-based bank accounts to obtain and retain business, the release said.
The guilty plea by Cevallos follows 12 public charges and guilty pleas against other individuals the Justice Department's ongoing investigation into bribery and money laundering involving PetroEcuador, according to the release.
