Connect with us

Hi, what are you looking for?

Ecuador Political News

Former Gunvor employee pleads guilty in Petroecuador bribery case

Preventive Prison for Those Involved in Corruption of Petroecuador - Prensa Latina

A Canadian man once employed by the commodities trading house Gunvor Group pleaded guilty on Tuesday to involvement in what U.S. prosecutors called a scheme to bribe Ecuadorean government officials to win business from state-controlled oil company Petroecuador.

Raymond Kohut, 68, entered his plea to a money laundering conspiracy charge before U.S. District Judge Eric Vitaliano in Brooklyn, New York. He faces up to a 20 years in prison and agreed to a $2.2 million criminal forfeiture.

U.S. and Brazilian authorities have for many years been investigating some of the world’s largest commodity trading firms over allegations of fraud and bribery.

To read the full story on Reuters, click here.

Archives

You May Also Like

Chevron Ecuador Blog Posts

1. Steven Donziger Is an Adjudicated Racketeer. The U.S. District...

News & Updates

Disbarred lawyer Steven Donziger likes to present himself to the...

News & Updates

A dishonest campaign is underway to rehabilitate disbarred lawyer Steven...

News & Updates

Steven Donziger is the best example of how a handful...