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FCPA Blog Daily News

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Wednesday
Nov212018

Former Venezuela treasurer forfeits $1 billion in DOJ plea deal

Alejandro Andrade cops pleaVenezuela's former national treasurer helped prosecutors bring an FCPA case against a media tycoon, and agreed as part of his own plea deal to forfeit $1 billion in personal assets.

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

As part of the plea agreement unsealed (pdf) Tuesday, Andrade 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 was charged in an August 2017 indictment unsealed Monday with bribing officials in Venezuela over at least a decade.

Prosecutors said Gorrín, 50, a Miami resident, bribed officials in the Venezuela National Treasury to help him evade currency controls and embezzle state funds.

Another co-conspirator with Gorrín, Gabriel Arturo Jimenez, pleaded guilty (pdf) under seal in March this year to a money-laundering conspiracy.

Jimenez, 50, a Venezuelan living in Chicago, owned Banco Peravia in the Dominican Republic. The DOJ said Gorrín used the bank to launder money embezzled from Venezuela.

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

Gorrin allegedly used a series of shell companies to hide the bribes. 

He partnered with Jimenez to acquire Banco Peravia, the DOJ said.

Andrade's sentencing is set for November 27 and Jimenez's for November 29. Under their plea deals, they each face maximum sentences of up to 10 years in prison.

The DOJ charged Gorrín with one count of conspiracy to violate the FCPA, one count of conspiracy to commit money laundering, and nine counts of money laundering.

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

Reader Comments (3)

What we all must bear in mind is that the consequences of all this pillaging is that the Poor, the Weak and the Defenseless SUFFER and often DIE. Children die because of malnutrition and lack of medicine.

No one should benefit from the tragedy that has befallen the Venezuelan people. Empathy and Compassion is needed for these poor people.

Chavez was a charismatic idiot while Maduro is a straight out imbecile. Both have fooled the Venezuelan people who are paying with their lives for their uninformed decision.
November 21, 2018 | Unregistered CommenterEl Viejo
I'd like to know whether those forfeited assets will be repatriated to Maduro's Venezuela (only to be embezzled again), used to help Venezuelan refugees, or put to another use.
November 21, 2018 | Unregistered CommenterBonnie J. Palifka
Repatriated? Nope! The Department of Just US will keep that money!

What an idiot that guy is. He used HSBC bank accounts in Switzerland. He had it ALL to move to Switzerland and live like a KING! He doesn't even speak English. Why Miami? What a moron!

Now he will be deported to Venezuela and right at the airport, they will kill him like a dog!
November 22, 2018 | Unregistered CommenterArnold
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