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FCPA Blog Daily News

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LatiNode Exec Jailed

Manuel Caceres, the former vice president for business development of telecommunications firm Latin Node Inc. (LatiNode), was sentenced on Thursday to twenty-three months in prison.

Caceres, 66, pleaded guitly in May last year to one count of conspiracy to violate the FCPA and could have been jailed for up to five years.

His ex-employer LatiNode pleaded guilty in 2009 to one count of violating the FCPA. It agreed to pay a $2 million fine. When eLandia International Inc. acquired LatiNode in 2007, it discovered the bribery and self reported to the DOJ.

 Three other executives of LatiNode 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 Honduras’s state-owned telecommunications company, Empresa Hondureña de Telecomunicaciones (Hondutel).

Manuel Salvoch, LatiNode's chief financial officer, and Juan Pablo Vasquez, the chief commercial officer, also pleaded guilty but haven't been sentenced.

Salvoch was scheduled to be sentenced this week. But Laura Sweeney, a Justice Department spokesperson, said the sentencing was adjourned and the court has not yet set a new date.

Caceres was ordered by Judge Joan A. Lenard to surrender to the U.S. Marshals on July 2 to start his jail sentence. She recommended that he be assigned to 'an institution in the State of Florida.'

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