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Miami Businessman Pleads Guilty to Ecuadorean Corruption Scheme- The Wall Street Journal

Date: Jan 24, 2020

A Miami-based businessman pleaded guilty on Thursday to conspiring to pay $4.4 million in bribes to officials at a state-controlled oil company in Ecuador.

Armengol Alfonso Cevallos Diaz pleaded guilty in the U.S. District Court for the Southern District of Florida to one count of conspiracy to violate the Foreign Corrupt Practices Act and one count of conspiracy to commit money laundering, the U.S. Justice Department said.

At a plea hearing Thursday, Mr. Cevallos admitted to soliciting and funneling bribes from an oil services company to officials at Petroecuador, according to the Justice Department. His sentencing is scheduled for April, prosecutors said.

To read the full article on The Wall Street Journal, click here.