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Foreign Bribery Gets Businessman 48 Months in Prison

Monday, January 13, 2020
Sandler, Travis & Rosenberg Trade Report

A former general manager of a U.S. energy company has been sentenced to 48 months in prison for his role in a scheme to corruptly secure contracts from Venezuela’s state-owned and state-controlled energy company in violation of the Foreign Corrupt Practices Act, according to a press release from the Department of Justice. The man was also ordered to pay a fine of $127,000 and forfeit $3 million. 

The DOJ states that this individual conspired with others to pay bribes and other things of value to purchasing analysts at the energy company. This ensured that the co-conspirators’ companies were placed on the energy company’s bidding panels, which enabled them to win lucrative energy contracts with it.

The DOJ notes that as part of its ongoing investigation into bribery at the Venezuelan company it has announced charges against 25 individuals, 19 of whom have pleaded guilty.

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