The Department of Justice announced March 27 that the former chief executive officer and former managing director of a U.S. broker-dealer were each sentenced to four years in prison for their roles in a scheme to pay bribes to a senior official in Venezuela’s state economic development bank in return for trading business that generated more than $60 million in commissions. The two former officials were also ordered to forfeit the $3.6 million and $2.7 million they earned, respectively, from the bribery scheme. They had each previously pleaded guilty to one count of conspiracy to violate the Foreign Corrupt Practices Act and the Travel Act.

Copyright © 2021 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.

ST&R: International Trade Law & Policy

Since 1977, we have set the standard for international trade lawyers and consultants, providing comprehensive and effective customs, import and export services to clients worldwide.

View Our Services 


Cookie Consent

We use cookies on our website. By continuing to use our website, you agree to the Privacy Policy and Terms of Use.