Legal News

DOJ announces sentencing of businessman for bribery and money laundering offence

Published on: 29 January 2021
Published by LNB News

LNB News 29/01/2021

Document Information

Issue Date: 29 January 2021

Published Date: 29 January 2021

Jurisdiction(s): United Kingdom

Article summary

The US Department of Justice (DOJ) has announced that a businessman, Armengol Alfonso Cevallos Diaz, has been sentenced for 35 months in prison on 28 January 2021 for foreign bribery and a money laundering scheme of $4.4m which involved the Ecuador's state–owned and state–controlled oil company, PetroEcuador Officials. Diaz admitted to conspiring to conceal and promote the scheme by laundering funds though Miami-based shell companies and bank accounts used to acquire properties in Miami for the benefit of ‘certain PetroEcuador officials.’

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