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Wednesday
Apr252012

No Prison For LatiNode Exec

Samuel Rubenfeld at the Wall Street Journal reported the sentencing today of Juan Pablo Vasquez, a former executive at Latin Node Inc.

He received three years probation and a $7,500 fine after pleading guilty in January last year to conspiring to violate the FCPA.

LatiNode, a Florida-based telecommunications firm, was acquired by eLandia in 2007. Vasquez served as its vice president of sales and chief commercial officer.

Last week, Manuel Caceres, LatiNode's former vice president for business development, was sentenced to twenty-three months in prison. He pleaded guitly last year to one count of conspiracy to violate the FCPA.

LatiNode pleaded guilty in 2009 to one count of violating the FCPA and paid a $2 million fine. It admitted paying or arranging bribes of $1.1 million to officials at Hondutel, the Honduran state-owned telecommunications company.

Two other LatiNode executives have pleaded guilty to FCPA conspiracy charges.

Jorge Granados, who once headed the Florida-based company, was sentenced last year to forty-six months in prison. He admitted payiing more than $500,000 in bribes to officials from Hondutel.

Manuel Salvoch, LatiNode's chief financial officer, also pleaded guilty but hasn't been sentenced.

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