Search

Editors

Richard L. Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Harry Cassin Managing Editor


Elizabeth K. Spahn Editor Emeritus

Cody Worthington Contributing Editor

Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor


FCPA Blog Daily News

« Illya Antonenko: Should U.S. companies even care about GDPR? | Main | Six compliance failures at United Technologies »
Thursday
Sep132018

Two more guilty pleas in PDVSA bribe case

A Texas-based businessman who paid bribes to win work in Venezuela, and the corrupt official who took the bribes, pleaded guilty in federal court in Houston.

Juan Carlos Castillo Rincon (Castillo), 55, of Conroe, Texas, was the former manager of a Houston-based logistics and freight forwarding company.

He pleaded guilty Thursday to one count of conspiracy to violate the Foreign Corrupt Practices Act.

Castillo admitted bribing an official at Venezuela’s state energy company, Petroleos de Venezuela S.A. or PDVSA.

The official who took the bribes, Jose Orlando Camacho (Camacho), 46, of Miami, pleaded guilty in July 2017 to conspiracy to commit money laundering. His plea was unsealed Thursday.

Both are scheduled to be sentenced in Houston on February 21, 2019.

As part of their plea deals, Castillo and Camacho each agreed to "forfeit the proceeds of their criminal activity."

The DOJ has now charged 18 defendants in the PDVSA bribery case. Fourteen have pleaded guilty.

The defendants include both vendors and former PDVSA officials.

The vendors are mostly charged with FCPA-related offenses while the former PDVSA officials generally face money laundering charges.

___

Richard L. Cassin is the publisher and editor of the FCPA Blog.

Reader Comments (1)

It may sound too harsh, but their sentence should be to send them back to Venezuela with a one way ticket so they can experience the hell their activities turned that country into.
September 14, 2018 | Unregistered Commenterindira
Comments for this entry have been disabled. Additional comments may not be added to this entry at this time.