A Miami-based Ecuadorian citizen pleaded guilty to DOJ charges of bribery and money laundering. The scheme involving the alleged bribery of public officials at a state-owned and state-controlled oil company in Ecuador.
In the agreement with the DOJ, Armengol Alfonso Cevallos Diaz pleaded guilty to one count of conspiracy to violate the Foreign Corrupt Practices Act and one count of conspiracy to commit money laundering. Specifically, he admitted to conspiring with others to:
- bribe the oil company officials through various means of interstate commerce, including U.S.-based companies and bank accounts; and
- conceal and promote the bribery scheme by (i) laundering funds through Miami-based shell companies and bank accounts and (ii) buying properties in and around Miami for the benefit of the oil company officials.
This guilty plea is the latest in a string of prosecutions related to alleged bribery and money laundering involving Ecuador's state-owned oil company (see previous coverage).
Sentencing will take place on April 2, 2020.
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