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FCPA Blog Daily News

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Tuesday
Nov272018

Former Venezuela treasurer jailed ten years in billion-dollar bribe case

Venezuela's former national treasurer was sentenced to ten years in prison Tuesday for his role in a plot to launder $1 billion in bribes. 

Alejandro Andrade, 54, Venezuela's national treasurer from 2007 to 2010, pleaded guilty in December 2017 to a money-laundering conspiracy. His plea was unsealed last week.

Andrade received the maximum sentence possible under his plea deal.

He also forfeited $1 billion in personal assets, including bank accounts, aircraft, real estate, vehicles, horses, and watches.

Andrade lives in Wellington, Florida. He helped prosecutors bring an FCPA and money-laundering case against Raúl Gorrín, a Venezuelan who owns the Globovision news network.

Gorrín, a Miami resident, was charged in an indictment unsealed last week with bribing officials in the Venezuela National Treasury to help him evade currency controls and embezzle state funds.

Another defendant in the case, Gabriel Arturo Jimenez, pleaded guilty under seal in March this year to a money-laundering conspiracy.

Gorrín bribed Andrade and Jimenez with money and "private jets, yachts, homes, champion horses, high-end watches and a fashion line," the DOJ said. 

Jimenez's sentencing is set for November 29.

____

Harry Cassin is the managing editor of the FCPA Blog. 

Reader Comments (1)

This is a strong message that will give others thinking of pillaging a LatAm country pause to reflect that there are consequences in the US.

Batista flee Cuba in January 1, 1959 with US$440,000,000. Billions today. There would not have been a Castro but for Batista corrupt dictatorship.

PS: fix the type set. it is microscopic to view what I just typed.
November 30, 2018 | Unregistered CommenterEl Viejo
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