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Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

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FCPA Blog Daily News

Entries in Venezuela (55)


Former PDVSA finance chief cops plea after taking $5 million in bribes

The former executive director of financial planning at Venezuela’s state-owned oil company pleaded guilty Wednesday for his role in a $1.2 billion embezzlement scheme.

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Swiss banker admits role in Venezuela money laundering ring

A former Julius Baer Group wealth manager pleaded guilty Wednesday for his role in a billion-dollar scheme to launder money embezzled from the Venezuela state oil company.

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Feds make another FCPA arrest in PDVSA bribery case

A dual U.S.-Venezuelan citizen was arrested at Miami International Airport Tuesday and charged with bribing an official at Venezuela's state-owned energy company.

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FCPA guilty plea in PDVSA bribery case

A dual U.S.-Venezuelan citizen pleaded guilty Monday to bribing officials at Venezuela’s state-owned oil company and laundering bribe money others paid to the officials.

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Martin Kenney: ConocoPhillips exposes the Venezuela kleptocracy

The breaking news is that U.S. petroleum company, ConocoPhillips, headquartered in Texas, has been authorized by a Curacao court to seize in the region of $636 million in assets belonging to Petróleos de Venezuela, S.A (Venezuela’s state oil company, or PDVSA).

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Tom Fox: Houston company sues former Venezuela oil minister for bribe demands

Former Venezuela oil minister Rafael RamirezBribery and corruption are rarely used as the basis of civil actions between entities and individuals. It is the exceptional case where a party claims that its refusal to submit to demands for bribes can lead to a claim of civil liability.

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DOJ charges Venezuela energy company workers with money laundering, FCPA conspiracy

The DOJ unsealed an indictment Monday against five former employees of Venezuela’s state energy company, charging all of them with money laundering and two with also conspiring to violate the Foreign Corrupt Practices Act.

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Florida businessman pleads guilty in Venezuela PDVSA bribery scheme

The part owner of several Florida-based businesses pleaded guilty Wednesday to foreign bribery charges in a plot to win contracts from Venezuela’s state oil company.

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FinCEN warns banks about laundering Venezuela bribe money

The Treasury Department's Financial Crimes Enforcement Network issued an advisory Wednesday to alert banks about graft money flowing out of Venezuela.

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Ex-Morgan Stanley trader hid Venezuela bond trades from compliance reviews

The Financial Industry Regulatory Authority (FINRA) barred a former Morgan Stanley representative for concealing the customers behind around $190 million in Venezuelan bond trades.

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Martin Kenney: Grand Corruption is a crime against humanity

The perpetrators of Grand Corruption are an A-List of kleptocrats who have pillaged their respective countries and their people of countless billions of dollars.

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Two more FCPA guilty pleas in Venezuela oil company bribe case

Two executives from U.S.-based energy companies pleaded guilty Tuesday to foreign bribery charges involving payments to officials at Venezuela’s state oil company, Petroleos de Venezuela S.A. (PDVSA).

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