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Ecuador Political News

Businessman Avoids Prison For Petroecuador Bribes

Petroecuador

A New York federal judge on Friday sentenced the owner of an oil and gas services company to probation over a bribery and money laundering scheme involving the payments of millions of dollars to officials of Petroecuador.

During a morning in-person sentencing hearing, U.S. District Judge Carol Bagley Amon deemed that a non-incarceratory sentence was appropriate for Ramiro Andres Luque Flores, the founder of hazardous waste disposal company Galileo Energy SA, and sentenced him to four years of probation with six months of home confinement. Luque was also fined $30,000.

Luque, an Argentinian national, previously pled guilty to conspiracy for bribing Ecuadorian officials with millions of dollars in order to retain business from Petroecuador and cooperated with the government.

To read the full story on Law 360, click here.

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