US authorities have indicted a Venezuelan national for laundering the proceeds of inflated procurement contracts that he obtained by bribing senior officials at Petropiar. Notably, Petropiar is a joint venture between Venezuela’s government-owned energy company and an American oil company.
During 2015-19, the 46-year-old defendant schemed to procure multimillion-dollar contracts from Petropiar by paying millions in bribes to the company’s senior officials. He made these bribe payments from his Florida-based bank accounts. In return, the defendant allegedly received benefits, including over $30 million in payments on Petropiar contracts. The defendant allegedly diverted the proceeds towards personal expenses, including real estate and luxury vehicles.
Overall, the defendant is charged with conspiracy to commit money laundering, concealment money laundering, international promotional money laundering, and engaging in transactions involving criminally derived property.
Source: US Department of Justice